What Does It Take To Be An Entrepreneur?
More and more people are making a living by starting their own business.
Whether it's freelancing, selling a product or service, opening a brick-and-mortar store, or starting up your own nonprofit to fight for Social Justice, you have decided to become an entrepreneur. However, with so many opportunities on the table these days entrepreneurship isn't as simple as it used to be before the internet revolution.
In this article we'll discuss what it takes to be an entrepreneur as well as provide some resources that can help you take the first step in becoming an entrepreneur.
What Is An Entrepreneur?
According to the Merriam-Webster Dictionary, the definition of entrepreneur is "one who organizes, operates, and assumes the risks of a business or enterprise."
An entrepreneur is someone who takes a big risk to create his or her own business.
According to Investopedia an entrepreneur is: For those living in North America and Europe, "entrepreneurship" is typically associated with starting a new venture. But for many around the world, entrepreneurship can simply mean being self-reliant. An entrepreneur can be defined as anyone who relies on his or her own resources and abilities rather than those of others in order to make a living.
The Different Factions Of Entrepreneurship
Business Ownership
You always hear about how Mark Zuckerberg started Facebook from his college dorm room or how an unknown rapper like Eminem was able to go platinum without a record label behind him.
But the harsh reality is only 30% of small businesses survive five years. While it may be easier today than ever to become an entrepreneur, the risk of failure is very high. That's why it's necessary to take your time and be sure you're ready before you quit your day job to devote yourself full-time to your own startup.
There's no shame in working a day job while you build up your dream business. In fact, it shows that you're serious about entrepreneurship.
Freelancing Online
Freelancing online is a great way to start your own business and make money from home.
These days there are many freelancing websites that provide opportunities for people to work from home. While it may seem like an easy and accessible way to make a living, please be cautious of companies that ask for too much money up front or will not give you all of the details about their opportunity.
People who offer these types of online business opportunities are hoping you don't read the fine print and stumble blindly into them. They know the odds are stacked against them that you'll pass.
Starting A Business From Scratch
There are many ways to start a business and many different types of businesses that can be started. However, for most people the decision of whether to start a business from scratch or get an existing business started is one that should not be taken lightly.
If possible, it is always better to work with someone else who has already started a business and trust that they have the resources to get you where you want to go. If you're unable to find someone with a similar background then perhaps starting from scratch is the best option for you. However, if you have the resources to do so then start a business from scratch.
What are some of the resources that can help you start your own business?
As stated above, many resources are available to help you get started.
These include:
It is important to be aware of our rights as entrepreneurs as well as any potential pitfalls that may affect us from both a legal and financial perspective. Here are just some of the many things to consider when starting an entrepreneurial venture:
Both individual and business owners should always be mindful of taxes that affect them in different ways depending on where they live and how they choose to operate their businesses.
Consider the following tax laws just to name a few:
If you are an entrepreneur or business owner in the U.S., these taxes and fees may affect you:
If you are an entrepreneur or business owner in Canada, these taxes and fees may affect you:
Entrepreneurship is not always easy to understand. However, it is important that entrepreneurs develop skills that will help them along their way as they pursue their entrepreneurial dreams. If you are interested in learning more about what it takes to be an entrepreneur I recommend reading a variety of books that can help you learn about starting a business, creating your own product or service, and running your own small business online.
You can start your own business without a college degree. You can start a business without a background in engineering. And you can start a business by studying the adage that says "it takes money to make money."
Maybe we're not born with the innate ability to be an entrepreneur. However, that doesn't mean we'll never find ourselves in a position to take full creative control of our lives and our businesses by learning the skills of entrepreneurship and working hard to change the status quo for our dreams.
How can we change the status quo for our dreams?
Let's face it, every small business owner wants to be successful, but few are smart enough to realize that success requires a lot more than just being smart. The skills of entrepreneurship are essential to transforming your dreams into a reality. And it is essential that you develop these skills before you decide to become an entrepreneur.
An entrepreneur is someone who takes a big risk and sacrifices his or her time and money in order to create his or her own business. It is important for entrepreneurs to realize their dream and never give up on their business goals since failure often knocks at the door overnight. Entrepreneurs rely on their own intelligence to create their own business, and if they are not smart enough then they find themselves running in circles.
Entrepreneurs are often self-employed or work for themselves. They don't have a boss who tells them what to do and when to do it. Entrepreneurs work out of a place called the "office." There are many different types of offices that entrepreneurs use, but most have plenty of room, which enables them to set up their office as they please.
An entrepreneur uses his or her time wisely in order to achieve success, so he or she doesn't waste too much time on unnecessary chores like answering phone calls or doing the laundry. Entrepreneurs are busy, so they make sure to be productive with their time. Otherwise they won't be making any money.
Each individual has a passion to handle various tasks in life. But, it is only the entrepreneurs who have the passion to start something and work on it several times until they come up with the results they want. In every business, there are problems that need to be resolved, but as an entrepreneur you must face them eventually in order to cope up with your business requirements.
Entrepreneurs are abundant in all parts of the globe and their existence is always acknowledged.
Conclusion
The key to success with entrepreneurship is to be self-motivated, tenacious, and determined. It is the individual who carries out and completes their tasks in the most efficient manner possible. This will encourage others in their field to follow suit. Similarly, those without the passion for entrepreneurship may find themselves creating a one-hit wonder; thus, creating solid foundations for future endeavors that build on what was once a unique idea.
Being an entrepreneur can be risky as it requires you to take personal risks, but if you are passionate about what you are doing then you will succeed along the way regardless of the length of time it takes.