Is Entrepreneurship for you?
You think you want to be an entrepreneur but how do you get there? Have you thought about what it is really like? We don’t want to scare you off the idea but just allow you to consider it from both sides. It’s not always the bright and shiny world that comes with the idea of being an entrepreneur. It’s great that the business is yours and you can make the decisions but running your own business can be lonely and can mean that sometimes you can’t pay yourself.
In reality, entrepreneurs aren’t superhuman. They are people just like you who have worked hard to get where they are. They had an idea that they wanted to pursue and they went for it. You can find out more about real life start up stories by visiting our Young Entrepreneurs: Featured, where you’ll find blogs and news stories or our Role Model Profiles.
Here are some top tips that could help you to start thinking like an entrepreneur:
Being willing to see the upside in tricky situations is a useful skill in business. Ask any successful entrepreneur and they’ll tell you there will be obstacles and setbacks along the way. It’s how you deal with them that counts. Mistakes, obstacles, things that have gone wrong are just opportunities to learn from and improve next time round.
So, rather than being stopped in your tracks when problems arise, look for solutions. Always try to find ways to improve the situation, no matter how tough. Having a problem-solving attitude can help drive you forward and build a highly successful business.
Learn new things
Entrepreneurs are typically open to new ideas and different ways of doing things. They are eager to learn. So, why not try something new like a different hobby or volunteer to take on extra responsibility at school or work? Why not find a part time job to get some experience. These are a great way to learn how a business works.
Experiencing new things can be a great way to come up with new ideas or you might spot a new way of doing something. Either way, you’ll gain experience, learn things you didn’t know and add to your skills.
Understanding why people buy certain products or services will give you a huge leg up when it comes to starting and running your business. After all, if you can fine-tune your business to exactly what your customers want, you’ll be in a strong position to succeed. Ask friends and family about their buying habits. Think about why you like certain products or brands. You could spot a gap in the market or even come up with a new idea on how to bring two different services or products together.
Setting out your business goals into bite-sized chunks is a great way of keeping your ideas on track. Tasks could include coming up with a business name or logo, creating a business website or finding suppliers. Keep a record of what you achieve and you’ll be able to look back and learn lessons from everything you’ve done.
Even the most successful entrepreneurs have been through times when their ideas didn’t work out or they lost money. What really counts is how you react when things are tougher than you expected. Successful business people have the will to bounce back when things go wrong. They remain determined and are willing to learn from their mistakes as well as their successes. Winners never give up.
Why not watch this video too? We interviewed some of our Role Models to find out why they became self-employed but also what it is really like.