Entreprenuership 101:

Tips to help you become your own boss someday

by amanda harper

If it was easy, everyone would do it. But if you aspire to become an entrepreneur, we’re guessing you’re the sort of person who remains undaunted in the face of challenges, disappointment and setbacks. If your dream is to have the best boss in the world – yourself – here are some things to think about before diving in.

Connect

The most important thing you can do as a future entrepreneur? Get to know current entrepreneurs! Connecting with people who are living the life you aspire to will help you better understand how to make it happen. These are the people who will help you hone your processes and avoid some of the pitfalls of going it alone. That said, don’t expect your small biz friends to do the work for you – and certainly not for free. Even if someone is interested in becoming a mentor to you or assisting you in launching your business, compensate them for their time, wisdom and support.

Build a Team

The idea of doing it all yourself is admirable, but the reality is that you will have certain needs that you won’t have the skills to meet. More importantly, when you need those services, you will want to have someone in your corner who you already trust and who understands your business. From your lawyer to your accountant, your banking specialist to your insurance agent, make sure you are working with people whose goals align with your own.

Truly Understand Your Idea

Yeah, yeah, you’re certain you’re sitting on a billion-dollar idea. But do you really, truly understand how your idea would translate into a business? The process of constructing your business plan will ultimately highlight questions you don’t have answers to. Take every opportunity to consider and define aspects of your business’s identity so that you understand it from every angle. If you hope to secure funding for your idea, you will need to have answers to any question that might arise. Another way of putting it: how can anyone else understand your business if you don’t?!

According to Indeed.com, you should at least be able to answer four questions: why, what, who and how? Why is your business needed, and what need does it fill? What is the product or service you’ll be providing? Who is your specific target customer audience? How will you develop your product or service and deliver it to your clients?