Hey friends !
To become an entrepreneur is not that difficult as we think it is. This fact is known to me only after I started my own business 4 years back. I was in full time job for many years. Every time I use to think to leave my full time job, I use to get sweat and shivers thinking what will happen if I fail ? How will I feed my family if I fail ?
I am not an expert on “How to create your own business”. I am certainly not advising everyone to leave there full time Job and start their own business. To those who are in full time Job and dreaming to become an Entrepreneur I can give few tips based on my learning during the journey of ” Slow shift from full time job to Entrepreneurship”.
1. Are you sure ?
Make sure that you really want to become an entrepreneur. There is this urge because someone else is doing it. Do not jump in it unless you are sure of your dream of becoming an entrepreneur. I recommend to read a book “Rich dad poor dad” by Robert Kiyosaki to get more insight on entrepreneurship.
2. Belief. You will be able to make a successful business or not is mainly dependent on what you believe. If you believe that you can be a successful entrepreneur then you are right. But If you are doubtful of your success in that case too you are right. Do not jump into business till you believe that you can do it ! To know more on how belief system works read the book ” The power of subconscious mind”.
Risk is synonym of uncertainty. When anything is unknown, we feel it is risky to go into it. Business is risky till you do not know what it is. Start learning everything about your business idea. Do lot of research on the idea you have in mind. Ask friends and family. Talk to people who are in similar business. Find out what is the trick to become successful in similar business. Learn everything you can on your idea of business. Before you start your own business you should know everything about it which is possible to know before doing it.
4. Equation of the business. :
Equation is a reason or more for any business to sustain. For example, in a small dense locality there is no grocery shop. There must be big demand from the local resident to have super market nearby. Usually the gap between demand(needs ) and supply (business) create successful businesses. Look for such gaps. Make sure that you know there is enough gap between demand and supply for any business to sustain for fair time. Find out the equation.
5. Change your career like Tarzan.
Derek Severs says “Don’t let go the old one till you get support from the new career “. Do some experiments while you are working in full time job, make partnership with someone who is free and can give life to your idea, work from your home after hours to start your business . This will help you to know your business well. There will be less chances of failure if you have already learned the business before you go in full fledge.
5. Start small
Starting small will ensure that even if you make some mistakes it will not give you big losses. Small business is manageable. don’t forget that still you are learning. it will take months and years before you get full confidence of doing big business.
6. Bigger picture
While you work in full time job, you are doing only certain type of job. When you become entrepreneur, you have to look after the whole business. You should have a helicopter view of all systems and processes of your business. These includes Purchasing, Production, Storage, Marketing, Accounts, Finance, Income tax, Human resources, Administration, Customer service etc. Learn law of the land. Learn more about each aspect of your business before you jump into it.
While I am saying that entrepreneurship is not difficult, I am also saying it requires more discipline, commitment, self motivation and due diligence.
I would love to guide you if it is in my capacity.
Feel free to share.
(I live in Maputo, Mozambique. While I have tried to keep the topic for all, there may be some influence of geographic region on my experience. Please keep in mind such fact.)