Entrepreneurship. It's a big, scary word that's impossible to spell correctly. What does it mean? According to the Oxford dictionary, it means “ the activity of setting up a business”, but entrepreneurship, and being an entrepreneur means a lot more than that. Read more to learn about 10 things you should know about entrepreneurship.
1. You need to pursue something you are passionate about.
Being an entrepreneur is a lot of hard work. And some days, you’ll want to quit, throw in the towel. That is why it is so important to find something you are passionate about. It will keep you motivated and driven.
2. It is a 24/7 job.
Sure, you may avoid the ol’ 9-to-5 workday...but entrepreneurship is 24 hours a day, 7 days a week. Sometimes you have to give weekends, vacation time, evenings for the business. No doubt...entrepreneurs are busy!
3. It’s not a sprint, but a marathon.
You may think entrepreneurs experience quick success and fast money. But that is rarely the case. Entrepreneurs pour time, money, and energy to get their business off the ground.
4. Don’t create products...solve a problem.
Look around the world. Try and pinpoint the issues you see in your day to day life. Ask yourself, “what could solve this issue?”
5. Obstacles are everywhere!
Don’t worry, you’ll get frustrated! Being an entrepreneur is not easy. But remember the passion and purpose of your business! It will be easier!
6. Learn from your mistakes, your friend’s mistakes, your dog’s mistakes…
To make those obstacles not seem so big, learn from everyone around you. Listen to the lessons that your friends, family, coworkers, mentors have to tell you so you don’t end up making the same mistakes!
7. Get the right team around you.
Find your strengths. And then find the people who can balance out your skills so you have a team that can do anything.
8. Figure out where you will get your money.
There are many ways to get funding for your business. Fortunately, Sparkyard is the right place to find the right funding, whether that is venture capital, angel investments, loans, etc….
9. You will be the “Jack of all Trades”.
Being an entrepreneur means wearing many different hats. Be flexible, learn what you can, and enjoy the process. Sometimes scary or stressful, being diverse is essential to building and growing your company.
10. The reward is great!
Hopefully, if you made it this far, you aren’t scared of still pursuing your business. Entrepreneurship is exciting, and we are here for you every step of the way.
The 10% Entrepreneur by Patrick J. McGinnis
The $100 Startup by Chris Gillibeau
Are you an entrepreneur who needs help taking the next step? Or are you a entrepreneur who wants to launch something but aren’t sure where to start? No matter what your situation is, Sparkyard can help. Any type of business, any industry – we’ll help get you connected to free resources in our area to help you start or grow your company. Click here to request your free Action Plan from Sparkyard.