How To Become An Entrepreneur [ Guide ]

Entrepreneurs are changing the world everyday. They are everywhere, from a small start up company to a multi billion dollar company. If you want to become an entrepreneur, you need to create your own market if there is no market.
You need to become a risk taker, who comes with no limitations.
Even you need courage to disrupt the old market to create a new one.
Entrepreneurs are the ones who think they can change the world and they are the ones who actually do.

1. Develop a mindset.

You need to shift the gear of your mindset. You need to develop your mindset and fill it with the best books, best ideas and best conversation.
If you want to make it as an entrepreneur, you need to install a whole new mindset. This will help you see the world from different perspectives.
Read great business books. Investment in your business can crash but investment on your brain will always lead you successful life.
Majority of world’s population are neither an entrepreneur nor a great thinker. However, only 5.9% people in the world are successful entrepreneur.
So, do something and start learning from great people who is already successful as an entrepreneur.
You can learn from Books, YouTube or a mentor. So, invest on the greatest asset you have, “the brain”.

2. Seek opportunity.

Entrepreneurs are the ones who seek opportunity when everyone is complaining. Stop complaining and start looking for opportunities around you.
Look around you and figure out what is the biggest problems most people are facing and that is your opportunity.
However, most people keeps complaining until an entrepreneur comes and solve their problems.
You can create a great business around solving a problem and earn huge amount of money aswell.
Founder of Alibaba group “Jack Ma” suggest everyone to “stop complaining and see the opportunity”.
So, if you want to become an entrepreneur, you need to look for opportunities and work towards a business plan that solves the problem.

3. Think different and big.

Entrepreneurs are visionary people. They think different from other people. They think for long term of business, not a short term.
However, thinking big is part of entrepreneurs mindset. When you will become an entrepreneur, thinking big will come naturally to you.
Entrepreneurs are always thinking one step ahead for a company. They are always looking for new opportunities to bring their business to a next level.
You need to start thinking differently in order to think big.

4. Create value for other people.

When most business people are chasing money from their business. Entrepreneurs are chasing value to help other people from their business.
As it is said – “Don’t chase money, chase value because money will end up chasing value”.
When you chase value, money will follow.
For example, entrepreneurs are chasing their vision to create value for other people and this is the reason why money follows them.
You need to create value for other people in order to become an entrepreneur. The more people you serve from your business, the more you will earn from your business.

5. Fill the market gap.

You need to look around the market and find it out, is there any gap between the specific market where people needs you?
If you can fill the market gap then you can create a monopoly in your market. You don’t need to compete with any other business for the market share.
If you want to be an entrepreneur, then you need to think where people needs you. When you help people where they needs you, it will make you a very successful entrepreneur.
So, start filling the gaps and eventually you will have more opportunities around you.

6. Make a business plan.

If you want to become an entrepreneur, you need the right business plan. You need to write down the details about the strategy, amount of money you need, and other required data of your business.
Write down your goals on a paper. Start writing the strategy and execution plan. After that you need to figure out the how much resources your business require and other analytical data for your business plan.
For example, you need to research and write down…

• The amount of money you need.
• How many people you need.
• What technologies you need.
• How your business will generate revenue.
• Is that recurring revenue model.
• What product or service you will offer.
• What type of customer you want to target.

It will help you to analyse the data for your business model.

7. Find an investor.

You don’t always need your own money to start a business. You can find an investor for your business. Investor will acquire some percentage of your company.
There are two types of investors. There are more but these two types of investors are primary.

1. Angel Investor.
2. Venture capitalists.

Angel investors are people who invest their money not more than million dollar. You can find them around you easily. They can be your friends, dad’s friend, family, other relations or some people around you who are interested in investing in a company.
However, you can find an individual who is a professional angel investor in your area.
On the other hand, venture capitalists is a type of private equity, a form of financing which is provided by firms or funds to small, early-stage, growing companies.
If you want to fund your business like an entrepreneur, you need a great idea and business plan to show investors and convince them to invest in your company.
This will help you to start your company and make it as an entrepreneur.

8. Be productive.

Entrepreneurship is a challenge for an ordinary person. They need to upgrade their skills, talent and work ethic. You need to read and learn in order to grow yourself into a better version.
For example, you need to eliminate things from your life which is not leading you to your goal. You need to sacrifice today for a better tomorrow.
Most people don’t want to do this and this is the reason they fall into an ordinary life.
Productivity is all about producing huge amount of work in less time. You need work hard and smart together.
You need to prioritize your schedule and eliminate stuffs which is useless.
In order to become an entrepreneur, you need to be productive in life. Self improvement is the key to success as an entrepreneur.

9. Utilize smart people.

You cannot grow your business alone. As an entrepreneur, you need a mastermind group, who are smarter than you and who can help you in your business.
For example, if you have an car company, then you can hire some of the smartest car designers, engineers, mechanics and marketing team who knows more than you.
You only need to manage and lead those people into your company and take the best out of them.
You only need to focus on your vision and every other work can be done by the smart people you hire. So, you need to start thinking, behaving, and leading as an entrepreneur.

10. Be super competitive and dominating.

You need two special skills inside you and those are competitive skill and dominating skill. You need to outwork people. Business is all about competition and domination. You need to be highly competitive person to in order improve your game.
Entrepreneurs are dominating and they are working day and night to dominate their industry. If someone works for 5 days in a week, entrepreneur will work 7 days a week.
In order to become an entrepreneur, you need to compete with other people and work harder than them and outwork them to dominate.

Conclusion

Being an entrepreneur takes huge amount work, time and energy. But the reward is what other people can only dream about.
This is what you need to remember.

1. Develop a mindset
2. Seek opportunity
3. Think different and big
4. Create value for other people
5. Fill the market gap
6. Make a business plan
7. Find an investor
8. Be productive
9. Utilize smart people
10. Be super competitive and dominating

SOURCE: vancruzer.com