I think the most important thing for an entrepreneur to do is to never give up. The choice to be an entrepreneur is a difficult path. The easy choice is to give up and work for someone else. But you have to ask yourself is it worth it? There are risks in both options. When you pursue your own business you are risking failure and you don’t have a guaranteed paycheck. When you’re working for someone else there are different types of risks you’ll be taking. These risks can look different for different people. For me the risk of working for corporate America for the rest of my life is risking my happiness.
This blog post, “How Will You Measure Your Life?” talks about the importance of living a life you can be proud of. It talks about doing what you love. My favorite quote is as follows:
“Do what you love because you’ll be better at it.”
Being an entrepreneur means you create your life and your dreams. Whereas working for someone else you’re making their dreams come true. There is another resounding quote that comes to mind and it’s along the lines of if you can’t stop thinking or talking about something then don’t stop working towards it.
I am choosing the entrepreneur path because it’s important that I make a difference in my own life, in my daughter’s and other people’s. An essential component to having a successful business is service and giving back to others. I want my life to be full of meaning and positive change for others.
“We need to eat to live; food is a necessary condition of life. But if we lived mainly to eat, making food a sufficient or sole purpose of life, we would become gross. The purpose of a business, in other words, is not to make a profit, full stop. It is to make a profit so that the business can do something more or better. That “something” becomes the real justification for the business.”Click here to read more
To be successful in entrepreneurship you have to have specific habits that enable success. A fixed mindset will not lead you to achieve your goals. There are so many setbacks and twists and turns that can happen while on your journey. Stephen R. Covey summed up what it takes to be successful in just 7 habits:
- Be proactive
- Begin with the end in mind
- Put first things first
- Think win/win
- Seek first to understand . . . Then to be understood
- Sharpen the saw
My Advice For Someone Considering Entrepreneurship:
Get experience. If you fall into the get-rich-quick schemes where a “guru” is showing off their mansion and their Lambo saying you can have it all too in as little as 3 months! Run! Just run and don’t look back. All they want is your money, that’s how they afford their fancy lifestyle is by playing off your desire to be rich and have nice things.
Think about it this way, there have been scam artists since the beginning of time. Not all people are honest and a get quick rich scheme is something to avoid at all costs. People nowadays don’t freak out when they get scam calls or emails requesting money, so scam artists are evolving and they’re playing on your pain points. Don’t fall for it.
Experience is what is going to lead you to true success and happiness. When creating a business that solves a problem and helps other people you will find so much more happiness and fulfillment in life.
Howard Stevenson is a Harvard Business School grad and in this article, he talks about identifying entrepreneurship opportunities. He stated the following:
“If we are to make full use of our opportunities in life, we must know ourselves—in particular, our strengths and our weaknesses. We must look at our capabilities and see how they compare with those who might be directed to the same goal. We must, if we wish to be successful and make a difference in the world, choose an area where we have a comparative advantage and where our best can be significant no matter how limited the area.” (3) (Click here to read more about finding entrepreneurial opportunities)
He graduated from Harvard Business School and he didn’t start a business as soon as he graduated. Instead, he went out into the field and got experience. He worked for Apple in the sales department and learned first hand how to launch products and other ins and outs of a large established business.
My Advice for Finding Direction:
Find a purpose. It may take months, it may take years. But when you find a purpose you will find the direction for your life and how to live. It’s important to have a code of ethics things you will never do but you have know yourself through and through.
Entrepreneurship takes soul searching, so take your time with it. Entrepreneurship isn’t a quick fix to your financial problems, if you are started a business just for the sole purpose of acquiring money and expensive luxuries then you may find how hollow and empty your life can be. But when you are starting a business with a real purpose and intent to make a positive difference in the world or a group of people’s lives you will find so much more fulfillment.
For example, I tried several entrepreneurial ventures that haven’t worked out. There are a few reasons why they didn’t work out, I think the main reasons were lack of direction, support, and timing. The last reason was divine intervention, my support system was an abusive husband, and my direction when I was developing and testing out different businesses was to get rich.
I have since left my abusive ex-husband and I am happily divorced with conviction in what I’m pursuing in life. My direction and purpose is based on 2 things. The first is to provide a better life for my daughter, and my second reason/purpose is to have the resources to be able to help other victims of domestic violence.
When I was divorcing my ex-husband I decided to start an online business and donate 10% of the profit to domestic violence victims. It gave me the energy to carry on each difficult day while recovering from what I had been through. It took the focus off of myself and turned it onto other people and how I could help them. My focus was on helping others and it gave me passion and drive unlike anything else I had tried before.
So it may take weeks, months, or even years to find your purpose but don’t give up. There’s so much more to life than getting rich and having all the latest and greatest material things.