Be Your Own BossBusinessChecklist Archive BusinessStart-Ups

The quickest way to learn how to be an entrepreneur

Editorial Feature

Want to be your own boss?

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For many individuals, being your own boss, and striving to achieve their objectives is the ultimate career dream.

An entrepreneur is a person who creates their own business. Every person’s road to entrepreneurship is different, but being a successful entrepreneur sometimes means you have to prepare for failure and criticism. There are approximately 407,505 new businesses born across all sectors in 2020. Sadly, not all of them make it, around 90% of start-ups fail. 

As we grow older, we tend to gravitate towards careers that are exciting or unusual. There are many reasons why entrepreneurs are successful. They often have the ability to solve a problem or provide a service that helps the community. How do you know whether becoming an entrepreneur is right for you? Most entrepreneurs share the same traits. Entrepreneurs, first and foremost, appreciate their freedom. They want to be their own boss, in charge of their own schedules and lives. 

Are you ready to embark on the next chapter of your life as a business owner? Discover the abilities and qualities you’ll need to succeed if you want to be an entrepreneur.

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Find the right business for you

Many people desire to start their own business but are unsure about which field to pursue. Entrepreneurship is a broad phrase. You can be an entrepreneur in almost any field. So, finding a field to work in and building a business to establish is the starting point. You’ll need more than money to keep you motivated; you’ll need a reason to do what you’re doing. You must enjoy what you do in order to achieve long-term success, as well as one that will be successful. Make sure it’s something you are passionate about as being an entrepreneurship is demanding. 

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Business planning

You must have a business strategy before you start your company. You need to prepare ahead of time, this will help you get to market faster. The reasoning behind a business plan is it assisting you in gaining clarity, focus, and confidence in your business. Your business will take shape as you put out your objectives, strategy, and action actions.

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Know your target audience

You should also do market research, examining the audience for a demand.  This might be the most crucial action you do. Maybe you aspire to start a restaurant in your hometown. What about the other restaurants? Do they seem to be doing well? Is there another restaurant in your neighborhood that could potentially be a competition? 

Find out if consumers will actually buy your items or services before you invest money. Outside your family and friends, who will buy your products or services? 

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Test the idea

How do you know if somethings going to work? It sounds self-explanatory but tests. The best place to do this is with local companies. If you’re trying to sell a product start off with small companies to see if the product will sell. Before investing more money, and more time into something testing to see whether or not It will work will save you time. 

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Build your network

Getting a business off the ground is the tricky part. To make it simpler seek the help of other experts. Those that invest the effort to network will reap the benefits.  Seek entrepreneurs within your family, friends, neighbours. Make it your mission to learn new things about entrepreneurship.

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Continue to learn new things

Once you’ve become an entrepreneur the learning doesn’t stop there. Continuing to learn is the key to success. The more knowledge you have about something the better. Reading books by a successful entrepreneur you admire is also a good idea. Even if the books you’re reading are not in the same field as you, their triumphs and mistakes may teach you a lot. Observing how others tackle difficulties might provide you with ideas for how to solve your own problems.

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Christina is a freelance journalist based in London, holding a Bachelors and Masters degree in Journalism. She has gone on to work as a journalist with The Career Changers, and is now the business and education editor for Hurst Media Company’s Checklist website.

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