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Minggu, 06 Juni 2010

How to Become an Entrepreneur

How to become an entrepreneur in 3 simple steps

Becoming an entrepreneur is the dream of many people especially in these times of economic hardship, when being your own boss seems to be a great way out of the recession. But regardless of your own motivation of becoming an entrepreneur, before starting out as one, you have to asses yourself and decide if your current situation and context would help you to reach your goals.

Step 1: Make sure that becoming an entrepreneur is the right decision for you

The dictionary definition of the term 'entrepreneur' specifies that it means 'a person which runs a small business and assumes the risk and rewards that come from it'. This is crucially important to clarify before starting on the path of entrepreneurship: you have to accept risk as a daily part of your life and you have to deal with it almost on a daily basis.

This is the main factor that separates entrepreneurs from normal people: the degree to which they accept risk in their lives. 90% of the population hates risk so they prefer the safety of a 9 to 5 job where they know that at the end of the month a paycheck is waiting if they do their job. Where as, entrepreneurs risk to go long periods without any money coming in, but they also could reap great rewards if their business succeeds.

Step 2: Find a good idea for your future business

After you have decided that indeed you can accept risk in your life, then it's time for you to cook up a great idea that you can implement into your first start-up. In order to do so just take a good look at you passions and see what you could love to do for a long time without getting bored or annoyed.

If you are good at any kind of sports, if you have hobbies or pets that you love, all of these could make the basis of your future business. Just find something that you can put passion in and start thinking at ways you can develop it into a business.

Step 3: Get founding for your business and start it up!

Once you have decided on what kind of business you want to start, you have to make a business plan that should include everything you can think of: expenses, potential revenue, advertising, employees etc. A good business plan will give you a correct idea about how big your initial investment will be.

If you've got the money then great! Start your business a.s.a.p. and you will learn how to become an entrepreneur along the way. However, if you haven't got the money to invest, there are some options you could turn to: try getting a venture partner, a bank loan, an angel investor or some governmental funding. All of them are great sources of potential investments so take your time and see which one is best for your situation.

What if you can't come up with a great business idea?

As long as you are determined to be an entrepreneur, nothing ca stop you, then even if you have no original idea to build on. In this case the answer is quite simple: just follow other people that had success and imitated what they did until you achieve the same results. The idea here is that people are all the same so if anybody did something, there is no reason why you can't do it to.

How to Become an Entrepreneur

By Richard J Gregory

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