Imagine the kind of life where you can work in your boxer, listening to the Ipod while working, report to no one for every business decision you make, you are the boss yourself and staffs working for you…that is the lifestyle we think entrepreneurs enjoy, but the truth is, life wasn’t that wonderful.
Being an entrepreneur is no glory and fame. Most of the time they have to make difficult decision and do dirty job when no one else is watching. Most of the new wanna-be entrepreneurs want fame but they are not ready for the worst. You got to roll up your sleeves for the tough time ahead as this would be a bumpy ride.
Before you start embarking the journey as an entrepreneur, here are a few things that you need to take note:
Mindset
A strong urge to be an entrepreneur is not enough. One needs to change his mindset completely from an employee and start thinking like a business owner. An entrepreneur must be proactive, start seeking new sales lead instead of waiting. Entrepreneur sees failure as a step closer to success, turn problems into opportunities and someone who can handle fear properly.
Take responsibility for everything.
An entrepreneur does not blame the market, economic climate or competitors if the business is not doing well. They practically do most of the important stuff by themselves such as getting VC funding, hiring talents, managing cash flow, handling legal issues etc.
Serve a niche market, not everybody living in the planet.
Most entrepreneurs will try to sell their service or their products to anyone they come across. Instead entrepreneur should focus on develop something of value to a small and specific market. It is easier to satisfies the need of a small population. The big players are those who dominated the general market. If you go head on with the big retailer, your are sinking your own ship.
Keep learning
An entrepreneur should not stop learning and improving their business venture. They act like a sponge that will absorb everything they can. They learn from the competitors and refine their strategy. A small business has the liquidity to change, in contrast to the big players with many layers of bureaucracy.
Reference
Preparing For Entrepreneurship by Joe Lee
