Today I’m going to talk about how to become an entrepreneur and the things you need to do before becoming an entrepreneur. Most entrepreneurs fail. The tips I’m going to give you, whether you want know how to be an entrepreneur or not, are going to help you in your work life, as well as help you being an entrepreneur.
The first thing you need to do is to work for someone else.
When you’re starting off, you’re going to make a lot of mistakes, you’re not going to learn how to communicate with people, how to build teams.
You’re not going to learn how to hire, you’re not going to learn how to fire. And even when you work for someone else, you don’t learn that right away. You have to be in the workplace for many many years, even get promoted before you learn some of these things.
The second thing you need to do is read books from other entrepreneurs.
There are so many people like the CEO of IBM talking about mistakes they’ve made. By reading these books you’ll learn from other people’s mistakes and avoid making them when you go out on your own.
I’m not that smart, but what’s helping me do well is I’ve learned from other people’s mistakes as well as my own, and I’ve avoided making the same mistakes over and over again.
And eventually, that’s led me to what I should be doing, right?
The third thing you need to do is learn to budget.
It’s harder to make money than it is to save it.
And when you’re entrepreneur you’re going to be strapped for cash. If you don’t know how to live on a budget or save money, you’re not going to do well.
The fourth tip is to learn to solve problems.
When you’re beginning your entrepreneurship journey, you don’t have big budgets, you don’t have a ton of staff, you don’t have a ton of people with the experience to help you out.
If you can’t figure out problem-solving and work on your problem-solving skills, you’re not going to succeed.
The fifth thing you need to do is figure out your passion.
If you don’t love what you’re doing, you’re not going to keep doing it over and over again. You’re going to quit as an entrepreneur.
The sixth thing is you need to be efficient with your time.
You don’t have enough time in the day. There are only 24 hours in a day.
And last but not least, find a problem that you want to solve.
So you’re not going to make money because you want to make money. You’re going to make money because you’re solving a problem, helping people out.
And that problem that you’re solving, your solution better be cheaper, or more efficient, if not ideally both. When you do that, people start paying you. If your solution isn’t cheaper or more efficient, why would they pay you versus the competition?
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