Considering becoming an entrepreneur? Always had the ‘bug’ to start your own thing? Here are 2 tips I found that were critical to becoming an entrepreneur.
Both of my parents and my entire family were employees. My Father was in a corporate sales job and my Mother was a school teacher. They provided a comfortable upbringing for us, good values and were hard working folks.
So the roadmap for becoming an entrepreneur was not clearly defined for me. Perhaps not for you, too.
In 1900 over 90% of Americans were self-employed; only 10% worked for someone else.
Fast-forward just 80 years to 1980 and the numbers are reversed, roughly 90% work for someone else and 10% are self-employed. Quite a shift!
Full disclosure, at the time of this writing I work for someone else. I work in Corporate America and I’m a Reserve Officer in the Army. Be proud of your employer, give them a hard days work. They deserve it! But do you deserve more?
Are you 100% satisfied in your life at the present? Your income? Your freedom? Your lifestyle? Your real quality of life? Heck even having a day off here and there – when you want to!
I wasn’t. I wanted more. A few short years ago I began to think bigger. Heck, I was downsized right out of my pharmaceutical sales job, so I had to look at other options… And fast! More on that story here.
That day when I was handed a pink slip right over the phone began my journey to becoming an entrepreneur…
Becoming An Entrepreneur: What Is It Exactly?
So here is the textbook definition of an entrepreneur, straight from Wikipedia…
Entrepreneurship is the process of starting a business or other organization. The entrepreneur develops a business plan, acquires the human and other required resources, and is fully responsible for its success or failure.
What do I see when I read this? Hard work! You betcha! A lot of it ???? Yes you are responsible for the success or failure of your enterprise. The buck stops with you!
What I also see is complete autonomy, unlimited income, flexibility and ultimately freedom. Now it will take time, nothing is get rich quick. However becoming an entrepreneur for me has been one of the most rewarding (and frustrating) ventures I have entered in my life. Entrepreneurship isn’t perfect, it’s a just a better way!
My goal here at TallJeff.com is to shorten the learning curve for you. Save you some headaches on the mistakes I’ve made. To give you some tips and training to help you along on your journey to becoming an entrepreneur.
Becoming An Entrepreneur: Where Do I Start?
Think about what is your passion? What would you do every day even if it didn’t pay you? That’s a good starting point!
Now you can start from scratch or there are other options such as franchising or direct sales companies with an established product line and business plan. With all of these, you are a 1099 independent agent.
I have tried a few things including real estate ‘flipping’ and rental properties. It’s an option.
Personally, I highly endorse direct sales companies and network marketing.
It’s a business model that has a low financial barrier to entry (unlike a franchise or traditional business), minimal risk and a high upside potential to create wealth – if you work it!
Network marketing is also a model that creates residual income. This is HUGE! A business that leverages your time and effort to produce income on an ongoing basis. More on residual income here.
Think about again what is your passion? There is a direct sales company out there for almost any product or service you can imagine. Here is a full listing of many of the companies listed by product category, right here.
Personally, being in the pharmaceutical field and having a passion for health and fitness, I went with a company in this field. There were a lot of factors in choosing this company (and definitely do your homework), but it has put me and a lot of others on a path to achieve the three things I was looking for: Money + Time + Health = Freedom.
Here’s a blog review I did for the company, right here.
Becoming An Entrepreneur: 2 Critical Tips
So however you decide to embark on your journey to becoming an entrepreneur, you will need these 2 tips to if you expect to be successful…
1. Conviction- You gotta believe 100% in what you’re doing. You’ve tried the product or service and love it. You’ve met some of the local leaders and found a good sponsor and mentor. Perhaps you’ve attended a company event and the people, the culture, the ‘vibe’ really fits you. Finally, would you be a consumer of the product even if you were not building the business! Yeah….you love it that much ????
Like in the video below, would you even go door to door selling the stuff!? Do you have passion and do you have conviction. Gotta have it!
2. Commitment- You love the product or service. It’s a company with high integrity. The leadership rocks. You have an awesome sponsor to help develop and mentor you on your path to becoming an entrepreneur. But are you 100% committed? No exit strategy!
You are an entrepreneur. You will determine the velocity of your success. Are you ready to put in the sweat equity?
It’s an awesome ride – filled with ups and downs, challenges and triumphs. And one that is 100% worth it and attainable when you have conviction and commitment!
Still have questions? Leave a comment below and I will get back to you. Or schedule a free strategy session right here.
Oh, and check the video below as I talk more about the 2 critical tips for becoming an entrepreneur. I’m here to help – wish you an awesome day!
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