How To Be An Entrepreneur
Part of the blog series
- Should I Become An Entrepreneur & Start My Own Business?
- What Business To Start? 20+ Business Ideas To Find Your Niche
- Understand USP & Figure Out How To Provide Value
- How To Pick A Good Company Name - Business Name Ideas
- Minimum Viable Product (MVP) - How To Launch A Business Fast
- Marketing 101 - How To Market Your Business & Set Up Marketing Channels
- Networking 101 - How To Network & The Importance Of Business Networking
- Habits of Successful Entrepreneurs (The Success Mindset)
- When & How To Pitch - Techniques To Raise Money For Your Business
A comprehensive but simple guide on how to become an entrepreneur, adopt the entrepreneur mindset and get started on your first business. Learn the basics of entrepreneurship in 9 steps. No money or experience necessary to get started.
How to become an entrepreneur? Well, easy. Just open a travel blog, or start selling lemonade in your backyard.
The real question is of course, how can one become a successful entrepreneur?
Learning how to become an entrepreneur is a little bit like learning how to become good at a sport.
You can get a couch to give you some magic bullets and guidelines, but at the end, you're going to have to do the heavy lifting and training yourself if you want to get good at it.
In an attempt to summarize the most important aspects of succeeding as an entrepreneur, I've created this step by step guide on how to become an entrepreneur.
I don't have all the answers, but I've been an online entrepreneur for the last 12 years and did learn a few pitfalls that you can hopefully avoid.
This guide is in no means the full complete guide on entrepreneurship, but hopefully it will get you started and induce some action.
The 9 steps to become an entrepreneur
In this blog series on how to be an entrepreneur, I'm going to guide you through each step of becoming an entrepreneur and hopefully get you started.
Have in mind that every entrepreneurial journey looks a bit different, and there's no right and wrong place to start.
But something is certain – one must start, and unfortunately most people dreaming about becoming an entrepreneur never do.
Here's 9 steps that will help you to get started and give you the general idea of the process of how to be an entrepreneur.
1. Decide if you really want to be an entrepreneur
Entrepreneurship is sometimes misunderstood for an easy path. It's important that you understand what will be demanded from you if you wanna make it in this game.
2. Figure out what business to start
The next stage is for you to decide what business idea to go forward with, but more importantly, to understand how that process looks in real life.
3. Understand and find your unique selling proposition (USP)
Choosing your USP and how you're going to give value to the world is one of the most crucial stages of creating your business. I've got plenty of USP ideas to get you thinking.
4. Pick your company name
Many people struggle to pick a good company name, and there's a lot to think about when finding the right one for your business. I've put together my top tips and resources.
5. How to launch your business fast with a MVP
It's important to understand what a minimum viable product is and how to use your MVP to conduct micro experiments, gather feedback and launch quickly.
6. How to market your business with a high ROI
Understanding the basics of marketing, getting your first customers, scaling, and choosing the best marketing channels is how you'll get that steady stream of customers that makes your business profitable.
7. How to network for your business
There are so many benefits to networking, but still, this isn't easy without knowledge and experience of how to do it effectively. I've shared the best networking venues and my top tips to give your the confidence to get started.
8. How to master the success mindset
An entrepreneur is as successful as their mindset is, so it pays off to learn the habits of highly successful entrepreneurs and how to set up your life for success.
9. How to pitch and when you should raise money
Not everyone needs to raise money to get their business started, and not everybody should. First of all, you need to understand why this is, and then if you do choose to, how and where to pitch.
What's the definition of an entrepreneur?
What does it mean to be an entrepreneur?
Before we jump into how to actually become an entrepreneur, lets quickly declare what an entrepreneur is – for the sake of this blog post.
The Oxford definition of what an entrepreneur is:
“A person who sets up a business, taking on financial risks in the hope of profit.”
That sounds pretty good. The only thing to add here is that in modern time we don't really need to take that much of a financial risk.
There's many businesses you can start that barely requires any up front investment (affiliate marketing is how I started). You can also raise money from an investor without any personal risk.
So, the risk today isn't that high for most businesses.
What does an entrepreneur do then?
An entrepreneur solves problems.
The tricky part about becoming an entrepreneur today is about finding an area where you can provide value and satisfy a demand.
That's what we'll cover in this blog series on how to be an entrepreneur.
How much does an entrepreneur make?
In case you're wondering how much entrepreneurs actually make, here's a table listing the average salaries for entrepreneurs across the globe.
The average salary is not low, but most entrepreneurs aren't making much more than $50 000 per year, which could come as a surprise to some people. A general belief seems to be that entrepreneurs makes a lot of money.
|United Arab Emirates (UAE)||$2722|
*Data in this table is based on various sources and reflects the average salaries for entrepreneurs and founders.
Do you need a degree to become an entrepreneur?
The short answer is no. You don't need a diploma to become an entrepreneur.
In fact, I personally wouldn't recommend anyone to go to school to become an entrepreneur, unless it's a very specialized education program that is inline with what you want to focus on.
However, you do need to be learning. Being an entrepreneur, you need to know a broad spectrum of topics related to running a business.
You don't need to a jack of all trades, but you need the basics in accounting, marketing, technicals etc.
In my own experience, school isn't the best way to learn the practicality of these traits.
You usually learn them as you go about building your business.