Things to Know Before Starting Your Own Business
The focus for new entrepreneurs, and for those entrepreneurs who are struggling currently, should be on the question "Should I be an entrepreneur?"- is this the best option for me personally right now?
Aspiring entrepreneurs need to do the math before they head down the entrepreneurial path -- they need to see if they have the right motivation, timing, personality and opportunity to pursue a business today.
Many businesses are either jobbies (hobbies disguised as jobs/businesses) or job-businesses; one-person entities where if that person gets hit by a bus, the business fails to exist. The possible rewards of these entities often don't justify the risks of entrepreneurship
The idea that entrepreneurship-fits-all is a fallacy; not everyone is meant to be an entrepreneur or will find the most personal success as an entrepreneur.
Hobbies and interests are focused on you; businesses are focused on the customer. Also, running a business is not about being good at making a product or providing a service -- it is about running a business.
Common Myths About Business Ownership/Entrepreneurship
1. You Get to Be Your Own Boss
2. You Get to Do More of What You Love
3. If You Are Good At Making A Good or Providing A service, You Will Be Good At Running Business Related to that Good or Service
4. Your Business Idea is Valuable
5. It's Easy and You will Get Rich Quickly
5 Tips to Stack the Odds of Success in Your Favor
1. Test out your business on a small scale
2. Get relevant experience
3. Get your finances in order (need to fund your life and the business for 1.5-2 years)
4. Make sure the other stakeholders in your life are on board
5. Build your network & relationships
Visit Carol's website: http://www.carolroth.com/
The focus for new entrepreneurs, and for those entrepreneurs who are struggling currently, should be on the question "Should I be an entrepreneur?"- is this the best option for me personally right now?
Aspiring entrepreneurs need to do the math before they head down the entrepreneurial path -- they need to see if they have the right motivation, timing, personality and opportunity to pursue a business today.
Many businesses are either jobbies (hobbies disguised as jobs/businesses) or job-businesses; one-person entities where if that person gets hit by a bus, the business fails to exist. The possible rewards of these entities often don't justify the risks of entrepreneurship
The idea that entrepreneurship-fits-all is a fallacy; not everyone is meant to be an entrepreneur or will find the most personal success as an entrepreneur.
Hobbies and interests are focused on you; businesses are focused on the customer. Also, running a business is not about being good at making a product or providing a service -- it is about running a business.
Common Myths About Business Ownership/Entrepreneurship
1. You Get to Be Your Own Boss
2. You Get to Do More of What You Love
3. If You Are Good At Making A Good or Providing A service, You Will Be Good At Running Business Related to that Good or Service
4. Your Business Idea is Valuable
5. It's Easy and You will Get Rich Quickly
5 Tips to Stack the Odds of Success in Your Favor
1. Test out your business on a small scale
2. Get relevant experience
3. Get your finances in order (need to fund your life and the business for 1.5-2 years)
4. Make sure the other stakeholders in your life are on board
5. Build your network & relationships
Visit Carol's website: http://www.carolroth.com/
