How To Become An Entrepreneur
How To Be An Entrepreneur That Is Wildly Successful
Do you realize that every single thing that you and I use on a daily basis, for whatever reason it may be, was developed by an entrepreneur?
It's an interesting thought I know. All things had to start somewhere!
Thanks to the creative minded individuals constantly seeking to make things better, I now have a toothbrush, toothpaste, soap, a towel, a shower, a pillow and a warm bed.
And because of their entrepreneurial efforts, I can live life comfortably.
What Is An Entrepreneur?
This is a broad question that has potentially hundreds of answers depending on who you talk to. An entrepreneur is any small business owner or creative minded individual who seeks to create, improve, innovate or change the world to make it a better place.
In efforts to provide a more definitive answer to this question, recall some of the most famous entrepreneurs of our time and the contributions they made to this world:
- Walt Disney - Creator of The Walt Disney Company
- Steve Jobs - Creator of Apple, Inc.
- J.K. Rowling - Author of the Harry Potter novels
- Bill Gates - Creator of Microsoft Corporation
- Thomas Edison - Creator of the light bulb (or the improvement of it, that's another story)
What do each of the above have in common? They made the world a better place and impacted millions through their creative mind and the bringing to life their innovative ideas.
What is an entrepreneur? Here's your starting point, you be the judge.
What is the entrepreneurial mindset?
I like to think of it as your inner child-like imaginative mindset. Only now, you probably have a better idea as to how to achieve those dreams (which are just as much capable of becoming a reality).
Finding a way to make something better, or to create something completely new that solves a problem or attracts an audience, is using your entrepreneurial mindset.
There is a trick to keeping that mindset alive. It's found in the famous quote by Thomas Edison:
"I have not failed. I've just found 10,000 ways that won't work." - Thomas Edison
Successful entrepreneurs all have a few things in common. Want to become an entrepreneur yourself? Here's how the experts achieved wild success as entrepreneurs:
1. Open Mindedness
I like to think of this as keeping your creative "child-like" mindset alive and active. When you were asked what you wanted to be when you were a kid, the sky was the limit. What happened between then and now, and why is your answer possibly different?
The sky is the limit whether you're a kid dreaming of what you want to be when you grow up, or whether you're in your mid 40's with a great startup idea. With the right open mindset and creative thinking, you have the potential to bring that idea to reality.
Recommended Reading: Side Hustle: From Idea To Income In 27 Days by Chris Guillebeau
2. Self Motivated
Successful entrepreneurs don't need to have a boss or manager hovering over them to keep them working hard. Their motivation comes from their vision of the potential future they could have if they stick to the process and keep creating, building, and innovating.
Self motivated individuals don't ask "IF" it can be done, but "HOW" it can be done. They don't stop until the job is done and know that "if there's a will, there's a way".
3. Not Afraid of Risk
Being an entrepreneur is often seen as a "risky" occupation or title. Successful entrepreneurs have a whole different perspective on risk, and see the reward brighter than the risk that is associated with that reward.
The potential outcome is much more attractive than the fear of failure. They know that failure WILL happen, and that it only takes one successful idea to make all the difference. Perseverance eliminates their fear of risk.
4. They Are Always Learning - Education Is A Lifetime Pursuit
Entrepreneurs are always anxious to learn and grow their knowledge base. This only furthers them along their path to success, and they enjoy expanding their knowledge. Many entrepreneurs read on average as many as 60 books per year! Whether you read one book per month or five per month, the important thing is to always seek for higher education and apply the principles to your work.
Recommended Resource: Audible by Amazon: Try Audible and Get Two Free Audiobooks
5. Great Networkers
You've probably heard the phrase "it's not what you know, but who you know". When it comes to being an entrepreneur, both what you know and who you know play a vital role in your success. Keeping well established relationships and connections to like minded people in different industries will get you access to knowledge and resources you may never have gotten otherwise.
Recommended Reading: Crushing It! by Gary Veynerchuck
A top pick for the entrepreneurial minded individual. Gary Veynerchuck is a successful entrepreneur who teaches how to grow you audience and monetize your expertise in any industry.
Learn how he built his multi-million dollar business in his #1 New York Times Bestseller, "Crushing It!".
Steps To Become A Successful Entrepreneur
The great part about being an entrepreneur, is that it takes no prior experience, no college degree, no entrance barriers that keep anyone from starting. Anyone and everyone with a desire to succeed and a creative mindset can put their divine talents to work. But how should you start? What are the key considerations you must know? You'll find that right here.
The 3 P's To Become An Entrepreneur
There are 3 basic key ingredients you must have in place when beginning your path to become an entrepreneur. They are:
Without the above three attributes, chances of you quitting are guaranteed. Each failure is another step forward, but the entrepreneur who quits after a few failures didn't exercise enough patience, persistence or passion. Keep those top of mind, and success is guaranteed.
Recommended Reading: The Compound Effect by Darren Hardy
Steps To Becoming An Entrepreneur
There is no defined process per say to become an entrepreneur, but in an attempt to make things easy for you, I've laid out a simple process that will get you off to a great start.
1. Determine your niche / market
The easiest way to begin this is to start with a list of your favorite things to do such as hobbies, interests, expertise, etc. This will perhaps change multiple times over the years, or may be a list of a few different industries all together rather than just one.
Recommended Reading: The Entrepreneur Rollercoaster by Darren Hardy
The idea is to expound your knowledge in these areas of interest even further, and over time become an "expert" on the topic.
2. Build your online presence
If you don't have your personal social media accounts set up with Facebook, Twitter, Pinterest, Google+ and Instagram, you need to get that started...YESTERDAY! This will be your quickest access to free marketing that will get your next big idea out to the public. Whether you know exactly what that next big idea is or not, you need to be growing your visibility online with social media.
Along with social media, you need to have a website set up. This is your digital address for your world-class business. If you don't have one, how do you expect people to find you? If you don't know exactly what your next idea will be, don't worry.
Getting online and growing a like minded audience is what's important. I suggest starting out with a domain name that has to do with your full name, initials or a name that people may know you by. This website will evolve over time, and if necessary can be transferred to a more definite domain as your idea or business grows.
Recommended Reading: Crushing It! by Gary Vaynerchuck
3. Set up Google Alerts
If you want to be innovating in your chosen industries, you need to be knowledgeable of what's out there and what the most recent trends are. Google Alerts is a great tool for keeping on top of what the market is doing, and new products and trends that you should be aware of. These just might spark the idea for the missing piece to the puzzle to your next invention.
4. Don't quit your day job just yet...
It doesn't take a full time job schedule to be an entrepreneur. With a few hours a day outside of your regular work schedule, you can find the traction you need to get things going. As success grows, you can better determine if and when you decide to quit your day job to peruse your business or idea full time.
Create a schedule that works with your family and work schedule, and put in a couple hours of work each day to unleashing your creative mind through blog posts on your website, thinking time to get new ideas and inspiration, note taking, searching for sources and educating yourself on "how to's" and "next steps" through online research.
5. Keep a physical or digital notebook with you everywhere you go
This is perhaps the most important piece of the puzzle to keeping those inspiring ideas that come to you sporadically. Using a note taking app on your phone or by carrying a Moleskine pocket notebook with you, you can quickly jot down notes, pictures, and ideas to add to your working projects.
As you review and refer to these weekly, more ideas will grow and build upon one another. This step alone is the cornerstone to prospecting for the next big project, business or invention.
Rinse And Repeat!
Follow the 5 steps above regularly and keep the 3 P's in mind, and you've got yourself a guaranteed formula for success.