Updated: Jun 11
Being an entrepreneur requires you to have a lot of positive stamina and knowledge about running a business. If you start without the proper business advice and tools, it can be very similar to walking on scary thin ice! But fortunatly, we are here to give you some juicy tips to make sure that your start to being an entreprenuer is on the right path to success:
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The Awful Truth!
Researchers say that more than half of people that begin there business fail in there first 5 years due to a lack of experience and perseverance in starting there own company.
Many of these businesses failed because they were unable to adapt to the entrepreneurial mindset. But with the right business tips, almost anyone can achieve their financial goals, but it's completely up to you! If you want to step into the " start your own business" arena, your going to want to keep reading this, because we have to right gear and weapons and financial advice to help you win your fight to the top!
First, Having an Entrepreneurial Mindset Is Key!
If you really want to learn how the entrepreneur world works, the first thing that you need to know is the difference between 9-to-5 employment and self-employment (being your own boss). Although they share similarities, they still are very different from each other, but comparing them as the same is where people can make a big mistake.
Usually when people jump straight into starting there own business, they normally have had some previous experience with regular 9-to-5 jobs. Unless their really luck and had a business handed down to them at an early age from there parents.
But for most people, transitioning from a typical day job to starting a business from scratch can get a little messy. Making such a dramatic change in your career life can be a big task for anyone!
This is because when working for someone else, people can find that everything comes a little easier.
The job they work at already provides the service, handles their tax deductions from there checks they receive, and they also take care of their paycheck that's sent in the mail constantly every week or every other week. But when entering the BIG BOSS WORLD, it can seem more complex and a little bit scary! But only if you don't have enough strive and dedication to get things done.
With that said, you have to have an independent demeanor and tough skin when doing business. This means that you will need to do almost everything from scratch; organizing your business, hiring people, paying people, filing your own taxes and more.
But you should'nt look look at this in a bad way, because the more freedom you have with the way you do business, the more you open doors to having financial opportunities and increasing your income. In fact, some successful entreprenuers that used to have a day job have been able to turn there yearly income into there weekly income!
Wouldn't it be nice to turn your annual $15,000 a year earings into your weekly $15,000 earnings. That's nearly 20x more than you would normally make at your day job building a business!
What's It Like To Be An Entrepreneur?
As mentioned before, many people that start there own business may feel like it's a lot of work and hassle. But the truth is, being your own boss can mean being more financially healthy than working for someone else. Of course you might struggle at the beginning of your entrepreneurial journey, but over time you will see that you have more freedom in your life and money oce you've done all the hard work to build it.
As with anything that has to do with bsuienss, things can take time to grow and expand. Just like a tree when it first starts to grow. But the more you build up your business, the easier and less work you will need to do when your business starts to take its roots.
But unfortunately, some people lose their patience and confidence in their business before it can really have time to grow. So in other words, being an entrepreneur takes patience that can bring big rewards if you're really sincere about starting your own company/business that can make an immense profit.
Now that you know what kind of mindset you need to be a successful entrepreneur and also what it's like, here is the juicy part - 4 Key Entrepreneurial Steps To Achieving Results Even as A Beginner:
1. Don’t Try To Do Everything Yourself , Get Help!
You will be amazed at how much getting assistance in your business will make a big difference in your business. In fact, businesses that create an assistance team are more likely to be more successful than entrepreneurs that try to take everything on themselves.
Creating a business team basically amplifies your business from 1 to up to 10x more productivity and better management because it helps build a brick and mortar for your companies needs. I myself have used Quick books.
2. Get In The Habit of A Self Employed Daily Routine
If you feel that at any time you are too tired to do any work, then it’s most likely you aren't going to make an attempt to do work at all. Unlike a 9-to-5 boss that is there to crack the whip on you and make sure you’re not doing lazy work, this is not the same deal with self - employment. In fact, it can become very easy to get in the habit of “I don't want to do much work today”.
I was actually guilty of this when I first started self-employment! Lol!
And since your self -employed and you have no time schedule of when and when not to take breaks, it can be tempting to want to take breaks all the time, and then nothing gets done that day.
So in order to be a successful entrepreneur, it is important to set standards and not be too openly with your time. Make a schedule of a specific time you work so your mind and body can become adaptable to it and eventually help you be more productive with your time.
3. Increase Your Stamina And Energy
Being your own boss like I mentioned before means that you have to manage your own self. This actually can take 2 times more energy to do rather than having a boss manage you.
But the good news is that if you have maximum daily energy and are able to think and work without feeling drained than you will most likely be a successful entrepreneur.
But at the same time, how do you keep up a daily energy routine where you always feel focused and ready to roll up the sleeves and get things done? The first thing that new entrepreneurs need to do to increase there stamina in there work is to create an adaptive habit. Sleep is always important as a 9 - 5 worker and an entrepreneur.
Therefore to increase your energy level, set a specific time each day you get up and go to sleep. Within a week of doing this, your body will adapt to what time it needs to sleep and when its time to get to work!
Another important factor that relates to your level of energy and productivity is what you put in your body. I know that this is a financial website, but since we believe our readers are just guest, but our friends, we go above and beyond advice.
And being a successful entrepreneur has a lot more to do that just working hard and increasing your finances. When I first started my own business, I knew I had to work at least 60 hours a week to get things accomplished.
But I noticed that since I hardly had any energy throughout the day, I was only getting 20 hours a week worth of work done. I know coffee for most business people seems like to be the answer, but sometimes the body and mind need multiple choices of energy to be energized to its maximum potential.
It is a good deal to incorporate liquids and foods that contain fruits and veggies. I usually use the Amazing Grass Superfood Powder from Thrive Market and it gives me so much focus and energy in less than 30 min.
But always remember, make sure to have an excellent amount of energy and stamina every day to be able to manage your own business, because your level of concentration can either make you or break you - literally!
4. Accept Your Failures As Positive Lessons
This is very easy to say, but I'm not going to lie, it can be the hardest to do. The good news is, some of the most successful entrepreneurs today did this very same thing and they are where they are today... ACCEPT YOUR FAILURES AND LEARN FROM THEM!
As a beginner in the entrepreneurial world, it is very normal and natural to make mistakes and be ignorant of business strategy.
But don't give up because this is where the fun begins. I myself hit my head hard a few times jumping into self-employment, but I had a burning desire to not stop till I reached the top.
Remember what your goals are and if you are really sincere of accomplishing them, there is no obstacle big enough to stop you! I promise!
Aim For The Stars - Don't Be Afraid of Creating a Company!
If I were to explain and define entrepreneurship and self -employment into one word, it would be Independence. But don't let that word scare you, as being independent eventually does mean more freedom if your willing to work hard in the beginning and stick around and wait for the results.
But most of all, it is vital to remember that if you want more financial freedom and are seeing self - employment and entrepreneurship as your pathway to get there, stay on the path until you get there.
Shooting straight towards your dreams until you reach your goals should constantly be your attitude towards starting your entrepreneurial journey the right way!
If you want our most highly recommended way to make money online, please visit our Business Opportunity page where we help people make the best self-employed income with no experience needed!
As always, good luck to all of you wanting to achieve better financial freedom and comment below if you have any questions at all! Cheers! :)
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