How to Become a Small Business Entrepreneur?
Being an entrepreneur is not just about the income or even the idea of being your boss. It’s about proving to yourself that you don’t need an existing system of values to triumph. It’s about showing that you can start your institution and carve your piece of the pie instead of waiting for someone else to give you a slice. Still, how does one get to the point where one becomes an entrepreneur (even a small business one)? Well, here are a few things worth considering.
Start as a One-Person Enterprise
The truth is that you don’t have to be too ambitious when it comes to starting your first enterprise. Sure, having an official launch date is a great idea, however, you could also start with something smaller. There are a lot of fields in which you can just start working as a freelancer, a self-published author, or a specialist for hire and then work your way up. In other words, you can start as a one-person enterprise. There are so many successful enterprises out there that have started as one-person startups.
Buy a Franchise
You don’t have to develop your IP when you can just choose an industry and buy a franchise instead. Buying a franchise business means getting a tested business model for free, as well as getting easier access to both workforce and financing. The biggest problem with branding lies in establishing brand recognition but if you purchase a franchise, you’ll have the privilege of skipping this step in its entirety. While this is not an instant-win card, the truth is that franchises have a significantly lower chance to fail than their traditional counterparts.
Look for Low Investment opportunities
There are a lot of fields in which you can start a business with virtually no funds. For instance, nowadays, to become a self-published author all, you need is a couple of dollars that you’ll spend on stock images for your cover. Later on, you can just self-publish on platforms like Amazon Kindle Direct Publishing. The truth is that with so many gig and freelance work platforms out there, you can find work without spending too much on advertising. Sure, it will be slow at first but without fundraising to get started, you won’t have to worry about the break-even point.
Explore Your Fundraising Options
Normally, fundraising would be your biggest concern when it comes to starting a business. The majority of people either look for a loan, borrow money from friends and family, or sell their scrap car at the best price. Still, in today’s world, it’s easier than ever to get in touch with venture capitalists or even find angel investors. On the other hand, you also have an access to numerous crowdfunding platforms. This means that you can just present your ideas to the world and receive a lot of small donations from people who are enthusiastic about your business sense. Keep in mind that having a good idea and knowing how to present it is not the same thing.
Respect Your Work
In the end, it’s all about how you see yourself. Every freelancer is an entrepreneur but not every freelancer acts this way. Why is this the case? Is it about their income, lack of leverage, or the very nature of their employment? Nope! It’s all about the mindset. The truth is that you need to start seeing your work as something that has worth. Negotiate like a real entrepreneur and you’ll be seen as an entrepreneur. Ask about the conditions, set your demands, and feel free to ask questions (real questions). You can’t expect anyone else to respect your work before you start doing so yourself.
In Conclusion
Becoming an entrepreneur is easier than you think, it just comes down to changing your definition of what an entrepreneur is. If you’re imagining a person sitting at the head of a conference table during the board meeting, chances are that you’re already on the wrong track, seeing as how not a lot of people got there the way you think. Taking small steps is better than dreaming big and the only thing that can get you to where you want is to start acting as soon as possible.
