I know so many entrepreneurs, who are starting small business ventures and trying to make a name for themselves, which I love to see. However, I feel like being on the outside looking you only get to see the rewards and benefits of being an entrepreneur. You never see what goes on behind the scenes. The sleepless nights, long hours, little pay, and the list goes on and on. Some people are built for that type of lifestyle. Others fail miserably and have to go back to the drawing board. If you’re thinking about starting your own business and being an entrepreneur here are some things you should consider before taking that big step.
1. Time is Everything
Being an entrepreneur requires most of your time. A typical work week for an entrepreneur is double what you would be giving to Uncle Sam at his corporation. Meaning you would be putting in sixty to eighty hours a work week instead of forty when you own your own business.
2. Research Your Market/ Consumer
Before you start your business make sure you fully understand and research your target consumer. Be educated on the product or service you are trying to sell. Never go in blind, remember people that purchase your product or service trust you to be an expert.
Make sure you have a passion for what you are doing. If you are going to be spending most of your time building your business then you should love what you are doing and be dedicated.
4. Know Your Goal
Make sure you know what your end goal is for this business. Understand why you are doing it and see the “big picture.”
5. Have a Plan of Attack
If you don’t have a plan then you are going nowhere fast. Make sure you write out your plan, set long term and short term goals for your business. Set weekly goals and never stop working on your plan.
If you feel you have the dedication and discipline to do all of these things than being an entrepreneur may be your calling. The benefits of being an entrepreneur are endless. Are you willing to sacrifice your now for the payoff later?