What is it to be an entrepreneur? It’s certainly not just about owning a business; it’s a lot more than that. It’s about conviction and the way you think. Entrepreneurs do things differently and being an entrepreneur is not easy. It brings a lot of challenges along with it, and one should be bold enough to take risks and accept failures. As Jessica Herrin, founder and CEO of Stella & Dot, rightly said, “You have to see failure as the beginning and the middle, but never entertain it as an end” (Pande, 2019). Being entrepreneurial means to know the industry well and be able to make the most of the knowledge to create new opportunities. The path to becoming an entrepreneur has no limits, it also about attitude and perspective to strive for change instead of settling in to routines and exact plans.
When I started my journey to entrepreneurship, I had no clue about business or even how to start one. I only followed my instincts and to be honest, I fared well. However, it was important for me to gain some knowledge about business, and through Design Thinking, I was introduced to the best techniques of doing a business. I learned the procedure of starting a venture and let me tell you, it is a lot of work! The first and foremost important step is to discover and evaluate your entrepreneurial spirit. This means to discover yourself, and know your strengths and weaknesses. After obtaining honest answers about yourselves, you need to figure out your type of business and set your goals accordingly.
Once you have identified a business opportunity, it is essential to know your market and target customers. Research plays a vital role in any business as it becomes your guide throughout your entrepreneurial experience. One must have a complete knowledge regarding their competitors or partners and the trend of the industry, along with recognising potential customers. Testing the products or services is also a must before starting a venture, and once you have achieved positive feedback regarding the same, making a business plan and model becomes the key to success of the business; a business should be able to create value. For the final steps, understanding finances, marketing and building a support network is also important.
Sounds simple, but the procedure require a lot of brain and body storming. The main factor is to always think about your customers and their needs, this helps in the growth and sustainability of the business. These steps will help you in becoming your own boss.
Pande, K. (2019). 47 Uplifting Entrepreneur Quotes to Ignite Your Drive. [online] Blog.hubspot.com. Available at: https://blog.hubspot.com/sales/motivational-quotes-from-some-of-the-world-most-successful-entrepreneurs [Accessed 6 May 2019].
Monosoff, T. (2019). So You Want to Be Your Own Boss…. [online] Entrepreneur. Available at: https://www.entrepreneur.com/article/207488 [Accessed 6 May 2019].