I have always seen myself as a bit of a closet entrepreneur. And I have always though that one day I might give it a go. And that time is now. Entrepreneurship, is my ultimate destiny I have thought. But am I prepared for the journey?
Let’s start with the definition of entrepreneur. It is a noun defined as “a person who sets up a business or businesses, taking on financial risks in the hope of profit.”
I think the most important words in the definition are: “risks” and “hope”. In other words, a very uncertain world indeed. I think if you’re thinking about embracing entrepreneurial opportunities, you have to first prepare yourself for the uncertainty and roller-coaster ride that lies ahead.
I have been planning for 6 months, improving my skill set and have been preparing myself mentally and financially, or so I thought, for what lay ahead. I would like to share some of my experience with others who are considering the same entrepreneurial route.
Things to consider in the journey to becoming an entrepreneur
- Think of it as a project: Plan activities in the same way you would plan any large project. It is much easier to tackle when you have a structured plan and list of what you need to do.
- It can be lonely: especially at the start, you end up working alone and often at home – with only your own company. Break up your day if you can. Get out the house!
- Lack of second opinion: There is no-one else to bounce ideas off and no workshop-environment where you can think issues through collaboratively.
- Get a business coach: I have the help of a fantastic and successful entrepreneur who has offered to help me on this journey.
- Research: Research is slow and takes much longer than you thought it would. And prepare yourself for finding things you hoped you wouldn’t find!
- Roller-coaster ride: One day you’ll be positive, excited and confident that your concept will be a great success, and later niggles, concern and uncertainty will take over, and you start to doubt your ideas and plans.
- Believe in yourself: Only you can make it happen! It is of course also easier if other people believe in you too, as that will help bolster your self-belief.
- Work hard, but make time to rest: Your body does need rest. Not a licence for being lazy, just ensure you give your body the best chance to support you.
I have been struggling with all of the above – more than I thought I would. I am an energetic, able, confident person with a good track record of success. When I think rationally, I realise that I have all the ingredients to make this a success. And that is what I try to keep my focus on.
I would be keen to hear if anyone else out there is on the same journey. What do you find are the joys and drawbacks of the experience?