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?
April 18, 2013 at 1:18 pm
All about the “risk” for me, would love to do it, have loads of ideas but always seem to think “but what if it doesnt work”.
Really do wish you all the luck in the world with it
April 18, 2013 at 1:36 pm
Thanks Mark O, it is a very scary process and thank you for the good wishes. But it is one thing that I don't want to regret on my deathbed, thinking “If only I tried it ….”