The 3 Core Factors to Becoming an Entrepreneur

July 22, 2016

12:30 pm

People often marvel at the idea of being an entrepreneur. For many, entrepreneurship is a goal they have in life and they’re just waiting for the day it happens. These are the types of people that will never actually become entrepreneurs.

While there is no perfect guide to entrepreneurship, there are a few factors that should be taken into consideration before beginning the endeavor. While you certainly won’t want to fail at becoming an entrepreneur, you’ll never be able to fail if you never try. Following these steps should hopefully inspire your entrepreneurial appetite.

Be Honest with Yourself

The life of an entrepreneur can be great – you’re your own boss, you make the rules, you run the business. However, all of these are easier said than done. Entrepreneurship isn’t an easy path – you have to be honest with yourself in order to prepare for it. Instead, it is often much more difficult than getting a regular job.

If hard work is something that you’re afraid of, then entrepreneurship isn’t for you. Hard work is always going to lead to rewards and entrepreneurs understand that as well as anybody. Excuses won’t cut it in this field.

If your business fails, this isn’t something to be upset about. You’ve gained valuable experience and you’ve already taken the first – and most difficult – step into entrepreneurship.

Start Thinking Bigger

Just because some college drinking buddies want to open a bar doesn’t mean they should. Likewise, just because you’ve come up with what you think is a good idea doesn’t mean it’s perfect. There’s a lot of research, planning and general deep thinking needed to succeed as an entrepreneur. Without proper preparation, your dream business could fail quite quickly.

At the same time, some “entrepreneurs” continually plan their business, sometimes over the span of multiple years. At some point, you’ll need to stop preparing for the small things that happen in the business world. Each day you spend preparing to become an entrepreneur is another day of your life that you aren’t an entrepreneur.

Stop Distracting Yourself

I often see people who want to be an entrepreneur but just never get around to it. Entrepreneurship isn’t just a state of mind or something you tell someone – it’s action. If you are wanting to become an entrepreneur, then you need to drop what you are doing and jump in. Preparation is good, but no amount of preparation is going to prepare you for entrepreneurship.

You can read dozens of guides and books on how to become an entrepreneur. Each is going to be full of useful information, and you’ll learn more and more from each that you read. However, none of this will amount to anything if you never actually start your business. My best advice on becoming an entrepreneur: Don’t be timid and take your idea to the market.

Did you like this article?

Get more delivered to your inbox just like it!

Sorry about that. Try these articles instead!

Jordan French is founding CMO of BeeHex Inc. 3D printing, President of O'Dwyer-ranked Notability Partners and cofounder of "Airbnb Police" start up BNB Shield. Jordan French is a technology commentator, biomedical engineer, intellectual-property attorney and business strategist for film and music stars. French works with Billboard-charted artist and multi-platinum producer, B. Howard, who wrote and produced songs for Vanessa Hudgens, Ginuwine, Dru Hill, Akon, Ne-Yo, Jason Derulo, Chris Brown and Wyclef Jean. French is on the leadership team at FOWNDERS, the social-impact start-up accelerator based in Newark, NJ. He is the Marketing & PR director of Scorpion Computer Services, Inc. and consults for executive producer Walter O’Brien, the inspiration behind the hit CBS television drama, Scorpion. As founding CEO and COO Jordan French built Status Labs into a Fast-50 and Inc.-500-ranked marketing firm and represented the people of the United States as an enforcement attorney at the Federal Energy Regulatory Commission where he tracked down energy-market manipulators and enforced electric grid reliability rules.

Leave a Reply

  • (will not be published)
Startup_Mixology_300x250