You Still Want to Be an Entrepreneur?

You will have to do many things as an entrepreneur. There will be things you need to do that you love and know how to do already. More likely, there will be things that you have to do that you NEVER thought about or that you NEVER thought you would be the one doing or that you NEVER thought about doing. What are some of those things that you will have to do to succeed as an entrepreneur?

5 Things You’ll Have to Do to Succeed:

Sell Yourself 1. Sell yourself and your idea.

Do you need to convince everyone how great you and your idea are? No, it won’t be everyone, but you will need to sell your self and your idea to those that will invest in, purchase, or use your products and services. You will need to build your credibility. You will need to become a thought leader on a topic that matters to your idea, company or industry.

MP9003212172. Wear multiple hats.

What is your core expertise? You may end up doing that, or you may end up doing the selling (see the item above). Or you may find that there isn’t anyone else to do a task and that it still needs to get done. Identify which area your expertise is in and any secondary skills that you may have. You will wear multiple hats as an entrepreneur, but which ones will they be? Marketing, sales, customer service, legal, business development, operations, finance, engineering, or something else? You will do more than your core area of expertise and that will make you uncomfortable. You will need to do these tasks anyway until you can convince someone else to do them or until you have the cash flow to hire someone else to do them. You may also wear multiple hats for a very long time.

MP9003876393. Unpleasant tasks.

Everything needs to get done and someone has to do it. That someone is likely you. You may find yourself cleaning toilets or cleaning the company kitchen or buying groceries or packing shipping boxes or bookkeeping or cold calling or other tasks you consider to be unpleasant. But, these things still need to get done. As the owner, you will be the last stop, the buck will stop with you and you will have to do unpleasant task along the way to success.

CB0487354. Expect the unexpected (good and bad).

Unexpected things will happen. At one company, we received news of our biggest deal (up to that point) on Christmas Eve. I once had to spend a million dollars in a week, which on its face doesn’t seem like it would be hard to do, but it needed to be specific to our business needs and it also needed to be done by a tax deadline and meet tax requirements. Although it was an unexpected good thing that happened, it was a lot harder than you might think. Bad things can happen too, like not getting badly needed servers or contact signed on time. A lot will go wrong. But a lot will go right too. We often retell stories about the bad things that happened and we forget to talk about the good things that happened. Both things will happen, but take a little time to celebrate the good things so that you can remember them too!

Four business executives having meeting in boardroom5. Pick an Amazing (Kitchen) Cabinet.

You will need to surround yourself with trusted and reliable friends and mentors who tell you the truth. Choose people you would sit around your kitchen table with and hear what they have to say. These are NOT yes (wo)men. These people will tell you the hard stuff and things you don’t want to hear. You NEED to listen to them. Choose these people wisely, they are important.

2 Bonus Tips:

  • business cardAlways, always, always have a plan B (or C). Don’t be such a stickler to a plan (or business plan) that you forget to address the reality that is in front of you. Things change. Sh*t happens, plan for it.
  • Network, network, network – you never know where your next customer will come from – the soccer field, the women’s room (I mean, if you are a woman), friends, neighbors, etc. They are all potential customers or contacts that can help build your business. Always carry a business card or something (for example, if you are an author, have bookmarks to hand out) to share with people you meet.

Deciding to become an entrepreneur is a tough step to take but it is totally worth it!

See the first in the 3 part series: So You Want to Be an Entrepreneur?

See the Last in the 3 part series: 50 Signs of Entrepreneurs

 

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