Entrepreneurship is a cornerstone of the American Dream. There are over 31 million entrepreneurs in the United States and this number is growing rapidly every year.
Different people have different motivations for getting into entrepreneurship, but the one thing that doesn’t change is entrepreneurship isn’t a walk in the park – at least going by the high failure rate of small businesses in the country.
Also, you don’t just wake up one day and decide to be an entrepreneur. There’s a process, just as there’s a process to becoming a doctor, pilot, or teacher.
Here’s a guide on how to be an entrepreneur.
Most people don’t think you need to learn about entrepreneurship to become an entrepreneur. They assume that simply starting a shop in the neighborhood or online makes one an entrepreneur.
Owning a business doesn’t make you an entrepreneur. It makes you a business owner.
There is a reason entrepreneurship courses are offered in colleges, even up to graduate and doctoral levels.
As such, when you want to become an entrepreneur, learning about entrepreneurship is the right thing to do. And no, you don’t have to go to college and pursue 4-year programs. Well, you can do that if you have the time and money, but there are shorter entrepreneurship courses that will give you good preparation for a life in entrepreneurship.
Learning isn’t just about pursuing courses. You can also learn by watching and listening to the entrepreneurs you admire.
Need somebody you can learn from? Check out Jasdeep Singh, a UConn MBA graduate and experienced entrepreneur.
Develop Business Ideas
Learning about entrepreneurship and leaving it there doesn’t make you an entrepreneur. True entrepreneurs always seek to practice what they have learned. This means you need to get down and work on starting a profitable business.
And starting a business starts with developing ideas. Not all ideas you develop will be viable. Your entrepreneurship knowledge will enable you to test various ideas and separate the viable from the unviable.
Don’t rush to bring your idea to market even if you strongly think that the idea will be a success. Take your time to do in-depth market research and develop a quality product.
Bring a Product to Market
The market is where the rubber meets the road; the ultimate ground for entrepreneurs of all kinds to prove their craft.
A big part of becoming an entrepreneur is successfully bringing a product (or service) to market. This involves setting up a business and selling the product or service to consumers.
It’s possible to find success at the first attempt, but don’t give up if your business fails a few years after launch. An entrepreneur doesn’t give up no matter how many times they fall. They always rise up and try again.
As you run your business(es), keep learning about entrepreneurship. Reach out to other entrepreneurs and build a network.
How to Be an Entrepreneur Simplified
OK, not really simplified, but you get the point. There’s nothing easy or simple about entrepreneurship. It’s a journey full of twists, turns, and bumps. But with this guide on how to be an entrepreneur, you now know how to get started on the right footing.
Keep tabs on our blog for more entrepreneurship tips and insights.