How and Why You Should Become an Entrepreneur

One of the best ways in which you can obtain great success in life, is by becoming an entrepreneur and starting your own business.

If you take a look at some of the people who have acquired great success today, you will see that this is indeed true. You simply have to take a look at Bill Gates (Microsoft), Larry Ellison (Oracle), Sergey Brin and Larry Page (Google) and Mark Zuckerberg (Facebook), to get an idea.

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One of the good things about becoming an entrepreneur is that the avenues are endless. You are not restricted by education or industry to name a few. So if you have always placed a limit on your journey to success, due to not having a PhD, then let this stop you no longer.

We should however, not kid ourselves. The road to becoming an entrepreneur is not for the weak. If you do not have self-discipline, courage, a vision and plan, then you will fail. Only a few new businesses make it past the 4 years mark.

So before you begin your journey to becoming a successful entrepreneur, ask yourself these following questions:

Question 1: Are you the sort of person who cannot and will not be stopped?

Question 2: How will your business help others?

Question 3: Are you going to create a new product or service, or are you going to build upon existing ones?

Question 4: What is the aim of your business, is it to make a quick extra income or are you building it to last?

These questions are important, since they are the building blocks to your business, so let’s look at these questions in a little more detail.

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Question 1: Are you the sort of person who cannot and will not be stopped?

There isn’t much I can say about this one. If you didn’t answer this question with a yes, then you will find it impossible to be successful as an entrepreneur.

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Question 2: How will your business help others?

You must be very clear about this question, since every successful product or service, is designed to help people in one way or another.

It is a good idea to create a business that you are passionate about. This is due to the fact, that you will have some knowledge in this area. You are also more likely to succeed when you are doing something you enjoy.

Since becoming an entrepreneur does not limit you to only one thing. You could also just create a company in a field that you are not passionate about, but you can see success for that business further down the road.

So for example; you may discover that more people are likely to become overweight in the future, and so you may decide to create products and services for weight lost.

Although you may have big dreams as an entrepreneur, remember that there is nothing wrong with starting out small, this is in fact a good idea, but never forget about scalability.

If you are in business for the long run, then you should consider a business that is scalable. It may be small at the beginning, but it should have the abilities to grow, and even become massive.

Once you have identified a need and a way in which you can help people, you are ready to begin.

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Question 3: Are you going to create a new product or service, or are you going to build upon existing ones?

As an entrepreneur you now have to decide on one of two basic things:

1. Will you create a product or service that is entirely new to the field of business that you have chosen?

Or

2. Will you create a product or service that takes something that already exist and make it better, or more efficient?

If you do not like the idea of creating a new product or service, then you can go along the road of improving something that already exist. This is the part that many successful entrepreneurs have taken today. They simply just improved the performance, productivity, or profit margins of a product or service.

Maybe you can come up with a fresh marketing strategy that will persuade people to pay a premium for the products or services of your business.

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Question 4: What is the aim of your business, is it to make a quick extra income or are you building it to last?

You must now as an entrepreneur decide upon the future plans of your new business. Are you creating a business that will last for many years, or are you creating one for some quick extra income, that you may sell or walk away from.

Remember that as an entrepreneur the decision is all yours and you have many choices. You do not have to follow a set path if you don’t want to. There is nothing wrong, if you decide to build a business that you do not want to manage forever.

Some entrepreneurs may choose to build a legacy, while others may just want to cash in. You may not want to do what it takes to create a legacy and decide to grow your business then sell it, but as I have said before, there is nothing wrong with that.

The desire to become an entrepreneur is a great one, and it is one that can bring you great success. Once you decide to start this journey you should never stop. If you really believe this to be your true calling in life, then you should start by focusing all your energy on this goal.

You will have some hard decisions to make, since you will need to quit everything else that is not inline with this desire.

If for example; you have a job that is getting in the way, hand in your notice, and then find another way of sustaining your life. You owe it to yourself to make the best of yourself.

Begin the journey today.

Please remember to follow me @yourfinesight for more like this.