So, you’re looking to become an entrepreneur huh? You better be hungry. This post is not for wantrepreneurs.
The biggest difference between a wantrepreneur from an entrepreneur is that entrepreneurs ‘do’ . They imagine and implement action to ‘do’ while wantrepreneurs imagine and ‘don’t do’.
So what’s an entrepreneur before he or she becomes an entrepreneur?
Here’s a little bit about entrepreneurs:
- Entrepreneurs have a passion for business
- They have a tremendous work ethic
- Entrepreneurs understand the importance of sacrifice
- They take immediate and purposeful action
- They’re always strategizing and finding ways to doing things better
- Entrepreneurs are problem solvers
By definition an entrepreneur is a person who organizes and operates a business or businesses, taking on greater than normal financial risk in order to do so.
Prior to entrepreneurship
See the thing is that before a person becomes an entrepreneur they’ve already honed a set of skills in a specific industry or environment that has allowed them to succeed prior to entrepreneurship.
In other words…
These are people who have already been setting goals for themselves and working towards achieving them.
If you dream of becoming an entrepreneur but haven’t yet developed a set of skills to provide value in the marketplace then you will be in for a massive disappointment.
When does that entrepreneurship transition occur?
The entrepreneurship transition occurs when an individual is ready to provide direct value in the marketplace.
At this point, the entrepreneurship spirit wants to roam outside norm environments and face the unknown.
A leap must occur
Though it’s a rather daring moment for every entrepreneur, it’s this barrier that’s broken by the individual that ultimately separates them from a wantrepreneur.
If you find yourself on the edge today, about to make that jump…
Keep reading below.
Here Are 5 Ways You Can Prepare Yourself for The Entrepreneur Life
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#1. Not everyone will understand your vision
By now you know not everyone will be supportive towards your ambitions. And that’s okay, they’re your ambitions.
For those in your inner circle that do show support, remember them when you takeoff. It’s a lonely road, the path to greatness.
Don’t put your energy towards trying to convince others what the universe has implanted in your imagination. Remember, the vision is in your head not theirs.
#2. Financial literacy will keep your business healthy
Knowing how to manage your revenue and profits will keep your business healthy.
Pay your expenses and vendors first then hold the profits. Once you build some capital be sure to reinvest a percentage of your profits to grow your business.
You can reinvest in your website, advertising, or other growth opportunities such as free lancers for stunning social media content.
#3. Every day is an opportunity to provide more value
Things will not always go as you anticipate; however, always look for the opportunities.
I had a client that wanted to make some last minute changes to a project. While it was a little frustrating, I collectively looked at it as a way to further provide value.
Instead of selling myself short, I demonstrated a positive attitude and willingness to help in order to assure them they were in GREAT hands.
Every day is an opportunity to provide more value. Find where you can provide more value even if it’s not in a physical product.
How else can I provide value?
If you’re pitching via email provide the value there, in the way you format your text. Did you get an opportunity for a phone conference or zoom meeting? Take the opportunity and further provide value with your tone of voice and facial expressions. Did you get the project? Amazing, now overdeliver and further demonstrate the value you can ultimately present to the client.
There is always a loophole to provide value in your business whether the circumstances are highs or lows.
#4. Sales are everything
The context on the paragraph above demonstrates you should always be selling yourself. Whether you’re reaching out to new business or not, sales are everything.
Sell your attitude, sell your willingness to help, and sell your product or services.
But most importantly, never stop feeding the sales pipeline. Develop leads and prospect as much as you can to secure cashflow. Without cashflow you will have no business.
If you have experience in sales then you know it takes persistence, patience, and a strategy to sell. If you have no experience in sales find a strategy that works for you and continue to apply it to build a clientele.
#5. Taxes are inevitable
When you start your business you kinda forget that at some point you’ll have to file taxes for your business.
2021 will be the first year I file taxes for my business and it’s not very exciting, but taxes are inevitable and you will have to go through this process too.
For this reason, it’s important that you don’t blow all your profits or overindulge in your small victories. A portion of your profits will go towards taxes so as an entrepreneur, delayed gratification is REAL.
For more posts on business and sales click here.
My entrepreneurship world
I’ve had the privilege to make money off the things I love to do. I make a little bit of money from my blog and I’ve even earned money from my music. In fact, my first online business started as a side hustle providing online services to musicians and artists. That was a lot of fun (before Franknez.com).
2021 will be my sixth year with sales experience. I received most of my sales experience selling for my families business bringing close to half a million dollars in sales revenue during the course of five years.
My advertising agency and Franknez.com both turned 1 year old this year. 2021 is also my first year working on both ventures full time so I’m excited to bring tons of value to both my readers and new customers in the market.
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I’ve been a little slower at publishing new posts for my readers the beginning of this year due to my how much I’ve been pushing for my business. I promise my schedule is improving. Thank you for being here today.