Welcome to the series on how to become an entrepreneur.
Perhaps the most fundamental question you can ask about entrepreneurship is whether you’re meant to be one.
You’ve all heard stories of the incredible wealth that entrepreneurs create. As well as the way they they’re able to make the future in their image.
Well, let me set the record straight, once and for all. It’s all true. Unless you’re a dictator of a minor country or Warren Buffet, your only way to becoming a billionaire is by being an entrepreneur. You may not make it in the first time, but one thing I can promise you is your journey as an entrepreneur will be absolutely memorable.
Someone once asked me what motivated me to become an entrepreneur. Those who ask this question will never understand the answer. But if you’re watching this, it’s very likely that you also feel something in your gut like I did. Something that tells you that you’re meant for bigger things.
Often, this feeling of wanting to do something bigger and more significant is almost overpowering. The clearest way of knowing if you’re right for this is to ask yourself if you’d be happy to work on your vision if you had to do it for free.
Often, what keeps us from becoming entrepreneurs is a fear that there’s something special about entrepreneurship that we may not have. But there’s one thing that all entrepreneurs have and that’s vision.
So long as you’re absolutely clear about the difference that you can make to your selected market, that’s enough to get started.
That’s a great thing to keep in mind. Vision is key. Everything else can be hired.
Vision is also critical when the going gets tough. When you approach investors and they keep slamming the door at your face or you don’t have the money to pay your employees, it’s the vision that keeps your people motivated. It’s an overarching goal that you can believe in, when things are hitting the fan.
As we progress with this series, we will peel off the mystique of entrepreneurship and cover all the steps necessary to identify your business idea, validate its relevance, identify the market, figure out how to get investors, increase the perceived value so that you give away as little equity as possible for investment and to help you become an entrepreneur.
As Yoda said to Luke Skywalker, “Do, or Do Not. There is no try”.
Send your questions on your challenges in your own entrepreneurial journey and I’ll try and answer them. If they’re relevant for the entire entrepreneur community, I’ll cover them here.