Every body wants to be a business owner, some are lucky to have made it, while others are still struggling to get it right, before you dive into becoming an entrepreneur, however, to achieve success, you need to understand first who an entrepreneur is and who an entrepreneur is not, and what it takes to becoming an entrepreneur.
This post shall be discussing on who and entrepreneur is and what it takes to become an entrepreneur, this put together will help you to know the pitfalls that you need to avoid.
Who then is an “Entrepreneur?”
“Entrepreneur” is a term we hear a lot in this country, but only a handful of persons can actually define who an entrepreneur is.
When we think of entrepreneurs, what comes to our minds are business owners of all types. Restauranteurs, auto shop owners, cobblers, self-employed photographers; etc all of these also count as entrepreneur careers.
The defining factor?
The word entrepreneur comes from the French word “to undertake.” a person who undertakes risk and initiative with the end goal of financial profit.
Entrepreneurs are defined as anyone who takes a risk with the goal of financial profit.
Talking a bold step towards creating something that will bring the money and not putting money first. A lot of people by putting money first have missed the mark, there must be a motivating factor other than money. The Bible talks about the love of money;1 Timothy 6:10
[10]For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
The craving for money can make an individual miss the mark, in becoming a successful entrepreneur.
Making money is not the only motivator for entrepreneurs, but risk-taking, usually in the form of financial investments, is the underlying theme of all entrepreneurs.
Entrepreneurs are also working to build something that will last. One of the defining factors for an entrepreneur is to take the necessary steps to create a business that will, when managed properly, continue making them money while they are not working.
With genuine passion, hard-work, a great idea, and a knack for learning, anyone can build a business and become a success.
Jacob was a successful entrepreneur who struck a bargain with boldness and exhibiting the traits above, took the risk and it worked out fine for him.Genesis 30:31-32
[31]And he said, What shall I give thee? And Jacob said, Thou shalt not give me any thing: if thou wilt do this thing for me, I will again feed and keep thy flock:
[32]I will pass through all thy flock to day, removing from thence all the speckled and spotted cattle, and all the brown cattle among the sheep, and the spotted and speckled among the goats: and of such shall be my hire.
A cafe owner, for example, will make money while the cafe is doing business, even if she’s picking up kids from school.
Where do I start?
What are the steps to becoming an entrepreneur?
First I will like to say that there is no straight road to becoming an entrepreneur. For example, the owner of a delivery company wouldn’t take the exact same path as an interior decorator. But there are some similar steps all of them should take.
These steps are itemized as follows;
Step 1: Find Your Industry or Niche
First and foremost find your specific niche. Many people want to become entrepreneurs, but they don’t know what industry to get involved with.
Your niche might be something you have worked in for years. Example If you have been an electrician for a company, electrical related may be your area. If you have worked at a restaurant for many years, you probably have a good understanding of how to run a food service business.
Jacob in the course of serving Laban became a shepherd, and have a good understanding of how to keep and manage flocks, he became skilled and experienced in that field.Genesis 30:38-39
[38]And he set the rods which he had pilled before the flocks in the gutters in the watering troughs when the flocks came to drink, that they should conceive when they came to drink.
[39]And the flocks conceived before the rods, and brought forth cattle ringstraked, speckled, and spotted.
It will be a wrong idea having learnt a lot in that field of shepherding and when is time to create a business of his own choose to maybe till the ground, and harvest crops where he knew nothing about.
Your current experience is a great place to starting looking for your niche.
It will also help if you love your niche. To have years of success, you have to love what you do. Eventually, money won’t be a big enough motivator to keep you working sixty to seventy hours a week to sustain the business. You’ll need more than money to keep you motivated, you’ll need a purpose.
Jacob tarried because there’s a purpose and didn’t rest, relent or gave up until the purpose was met.
Step 2: Research Your Market
You should also research the available market, analyzing the area for demand and need.
Maybe, you want to open a fine Italian dining restaurant in your hometown. Are the other restaurants succeeding? Is there another fine dining in your area? Can the local customers afford to eat at a high-end restaurant, or would they prefer a more-moderate place to eat? Do they even like Italian food?
You cannot start a car business in a Riverine area where the means of transportation is canoe and speedboat.
Finding the answers to these questions, and more, will be essential to your long-term success.
Step 3: Educate Yourself
There are three types of educations that you should consider when looking at a life as an entrepreneur.
Education in Your Industry
The first type of education to consider is something directly related to your field this can be formal or informal.
David when faced with Goliath pointed to his attack and defense mechanism used in keeping his father’s flocks, obviously he might have learnt special techniques and ways of handling predators, and some defense mechanism.
1 Samuel 17:34,36
[34]And David said unto Saul, Thy servant kept his father’s sheep, and there came a lion, and a bear, and took a lamb out of the flock:
[36]Thy servant slew both the lion and the bear: and this uncircumcised Philistine shall be as one of them, seeing he hath defied the armies of the living God.
If you are looking opening an auto shop, you will obviously need some
education and certifications related to car repair.
If you are thinking about being a self-employed electrician, you will need the latest education and training with wiring and circuitry.
If you want to run a restaurant, training in food service will be useful. This gives you a backbone.
Step 4: Build Your Business Slowly
Many aspiring entrepreneurs think that fast, rapid growth is the sign of a successful business. However, most businesses are built slowly, over years and even decades. Whenever possible, entrepreneurs will build slowly, starting with the very first sale and crawling forward. Building slowly allows you to learn and make adjustments before plunging headfirst into the business. Dealing with new situations provides valuable on-the-job entrepreneurship training you won’t get from any formal degree. In many cases, entrepreneurs will keep their day jobs while building the business in their spare time.
And finally
It’s never been easier to start a company and become your own boss.
However, as long as you can keep picking yourself up when you get knocked down, try different things and keep learning, the odds are in your favour. Above all God’s grace is sufficient for you.
Mark 9:23
[23]Jesus said unto him, If thou canst believe, all things are possible to him that believeth.
Philippians 4:13
[13]I can do all things through Christ which strengtheneth me.
Let these scriptures guide you.
For more information and couching on how to become a successful entrepreneur, and small scale business you can start with low capital connect with me today.
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