Think about your dream right now and envision it.
Are you bored in your life or stuck in your job or study you don’t like and want to start your own thing or business, startup or whatever you interested in.
Then you must want to become an entrepreneur. But the steps to become an entrepreneur are very hard to take. (90% of the entrepreneur does not succeed in their business life)
So why it is too hard that 1 out of 100 people able to make it or what that 1 people do better than the rest 99 people.
We will discuss it deeply through this post.
Do you know entrepreneurs are the lifeblood of the Us economy as well as for the country?? Because They own or operate all things. From small business to industry.
Requirements to become an entrepreneur are so cosmic.
Which is why they have some unique qualities as they are the problem solver, independent and most important they enjoy being responsible.
Also, all the entrepreneur passionate about their work and give something special value to the humanity.
According to the study, it takes a minimum 5 years of struggle to become an entrepreneur if you work with all your dedication and plan otherwise you will fail.
They have some incredible constitutions like they are passionate, dedicated, and occupies a great volume of willpower.
They have the burning desire. They do not mind failing they willing to make mistake but with each mistake, they become smarter.
So how to become a successful entrepreneur??
The answer is simple but its all depends on you.
There are many ways to become an entrepreneur. Like you can start your own business, startups, consultancy or any service.
But the startup is in high demand now.
If you want to become a great entrepreneur then try to solve the problem of the society through the help of your product and service.
If you watch the news daily then you must notice that 9 out of 10 startups fail because of the low-quality business plan and lack of market knowledge.
But we will focus on that one business or startup which become successful.
Before that let’s know who is an entrepreneur actually??
Google says ”A person who sets up a business or businesses, taking on financial risks in the hope of profit and willing to change the world is an entrepreneur”.
But in the simple words Entrepreneur is a person who creates something new or creative. It may be a business a startup, venture, project whatever.
The most important is that the thing he must be a problem solver of the mankind and creative if he wants to become an entrepreneur.
Powerful thinking and guts to turn that vision into reality. (Most important things)
All these modern entrepreneurs from Mark Zuckerberg to Jeff Bezos they are not born rich. They just follow their passion and turn their vision to reality.
Easy is not it??
Absolutely not…ha ha.
If that job is easy then all single person in the world is now an entrepreneur.
It’s super hard to shift vision from your mind to the physical world. That’s why 9 out of 10 startups are failing in their business life.
The next most important skills are risks, proper utilization of financial resources, human resource management, open mind, etc.
But remember creativity is superior because of all starts with your mind and your powerful creativity skills.
So let’s start the foundation to become an entrepreneur or what are the steps you must take to become an entrepreneur.
Job vs Entrepreneurship.
Here I discuss some basic concept of job and entrepreneurship by an infographic.
For your better understanding, I take two characters, Jack and John.
So, let’s see…
From the above infographics, you may know some basic of job and entrepreneurship.
Also, you may understand what is the importance of passion in the career.
Steps to become an entrepreneur.
Think outside of the box:-
So the above headline might be awkward.
But here the sentence means to think outside of your regular life.
Here you may be thinking that how I can think out of my regular life. But it is possible if you want to do.
As I said entrepreneurship is not for every individual in this world because it is a hell of a responsibility but before that, it completely depends on yourself.
Look around your self all people in your locality, friends in your school, members of your family, your colleges after graduation all they want a job.
A job is the first dream of every individual in this world. But when you think about an idea, a plan, a set up which can solve some problems of the people or an innovation then indirectly you are thinking out of the box.
So you are becoming unique and entrepreneurs are unique.
So if you are doing that then congratulation you can become an entrepreneur.
I am not personally hating the jobs or job holders I am just telling you that everybody wants to have a nice family, save a little money, have a good day.
But that’s a limited life made up by other people and you can change it you can influence it by becoming an entrepreneur.
Some people became an entrepreneur at the age of 18 and 16 they are also human beings like you the only difference between them and you is the thinking out of the box.
They see thing differently so they get a plenty of ideas and convert them into reality and became an entrepreneur.
Getting an Idea:-
After thinking outside of the box you will get a lot of ideas.
Divergent thinking increases your mentation and intellection power.
And when your mentation power grows the store of ideas opens.
But the difficulty is that what idea is appropriate??
After thinking you may find yourself in confusion to find out what idea I must execute.
In this situation analyzing will help you. Thinking of an idea, not as important as analyzing.
It is your responsibility to examine the idea carefully.
Most of the entrepreneur’s ideas are problem solvers ass they try to solve the problems of the peoples.
So if your idea works for the people then money will definitely follow you.
It is important to ensure that your idea must be productive. When your mind opens you will get a plenty of ideas.
The ideas may be based on your study, in your regular activities or anything else.
Let’s get it through an example.
Suppose you are a student who studies solar science and you get that you can use solar technology instead of electric, petrol, CNG etc.
So this idea is a problem solver because this helps the people as well as the environment. And
with the help of this idea, you can become a successful entrepreneur.
Creativity is the 22nd sense of an entrepreneur which make them different from others.
Entrepreneurs are genius as they have the ability to imagine the future and they have guts to convert their imagination to the reality.
As an example of Elon Musk.
Inventiveness helps you in the execution of the ideas in the relevant way which will lead you to the success.
”INNOVATION”, these 10 letters can make you the owner of 10 billion dollars.
Suppose you get a plenty of ideas and those ideas are now bouncing around your mind and you confused in finding which is the best.
In this situation, creativity will help you.
First, you have to ensure that which one of those ideas is creative or unique or which idea have some unique qualities than others.
You will find one guaranteed.
In today’s world, all the ideas are copied. Some people who want to become an entrepreneur steal the ideas from other entrepreneurs.
In the result, they fail.
So innovation plays an important role in choosing the idea.
Let’s understand these with an example.
We all know Steve Jobs.
When Steve jobs designing his first computer Macintosh he decided to put a stylish Font programme on the computer.
For this decision, Macintosh became different from the others.
And now Apple is the world’s 2nd largest company.
By this example, we learned that a pinch of Innovation can turn dirt into the rose petals.
So if you want to become a successful entrepreneur then try to become more creative so that your idea can become unique from others.
Among all the steps to become an entrepreneur, the analysis is extensive.
So what role does analysis play??
In simple words analysis means to look through carefully.
But analysis is one of the vital steps in the process of becoming an entrepreneur which cant be skipped.
In the old time, there was less need for analysis because of the low level of competition. But now It became mandatory because of the high level of competition.
Before landing on the project. The entrepreneurs have to analyze various factors like the risk, reward, competition, demand, supply in the market etc.
A wrong decision in this process can waste your whole planning.
If you have good analysis power then you can make it easier.
A good entrepreneur always gets good data information with his analytical power.
He can spot the current and potential competition in his first step of the analysis.
As I mentioned above when you identified the competitors then you can easily beat your competitors with your strategies.
Let’s look at it thoroughly.
There are two types of competitors analysis.
Number one is to look at the market from the customer’s viewpoint so that you can know what exactly the consumer wants with the exchange of his money.
Now, number 2 is…
To look at the market from the competitor’s point of view so that you can know what they actually do to fulfill their consumer’s needs.
By this, you can easily understand the strength and weakness of your competitors.
Which will help you in the developing of the business strategies?
Taking massive action:-
You know just showing up is the half of battle.
Massive action is one of the key steps to show what you got.
Here massive action means yo execute your plan.
After all the setups you have to execute your business plans into the market.
Among all the steps to become an entrepreneur execution of the plan is very important. It means to set a clear path to achieve your goals.
For any entrepreneur, it is obligatory to set the objective and a clear and measurable path for themselves.
But all the entrepreneurs are not able to do it. Some of them even stuck in the decision-making process and never get anywhere.
An entrepreneur with the clear vision can do this easily because of a clear mind. The main reason for the failure is the doubtful mind.
For a startup, it is not sure that the business will give you all the profits in the first year.
Business takes time to generate revenue.
Too many businesses fail in the first five years and I believed that it is because of the low revenue.
So don’t focus on the revenue, focus on the work set high goals and try to hot them.
It is not an overnight process.
Estimating the future:-
Everything has its future and the present decides the future of everything.
Reckoning the future of the startup or business or whatever is an ability as well as an essential steps to become an entrepreneur.
All the entrepreneurs are the high thinker as they think about their project’s future.
Estimating the future helps in getting new innovative ideas about your business.
Due to technological innovation, our world is becoming very dynamic for this purpose future prediction is an important factor as your thinking power will lead you to the success.
Making everyone happy:-
Happiness is the root of all the achievement of goals and success.
It is a big duty for an entrepreneur to make his/her employee happy.
Human Resource is the pillar of every business in the world. So it is mandatory for every entrepreneur to keep his/her employee happy and motivated.
There are many ways to make the employee happy like employee welfare programme, raising of salary, various monetary benefits etc.
These types of schemes help in motivating the employees and keep them happy.
Till now I just told you the necessary steps to become an entrepreneur.
But do you know what are the qualities of an entrepreneur ??
Literally, they are many in numbers but I will discuss the important ones.
Have you ever search ”How to become an entrepreneur at the age of 18″ or ”How to become a millionaire”.
Well, it is not as easy as it sounds but the happiness is that it is not impossible.
As I told you before it is not for everyone.
Requirements for becoming an entrepreneur are enormous in number.
Here are some important ones.
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Qualities and abilities of a successful entrepreneur.
In steps to become an entrepreneur guide, we going to discuss some essential quality to being a successful business person.
So move on to the best qualities of an entrepreneur.
As I mentioned
These 10 words can make you a billionaire.
All the entrepreneurs are the new thinker and openminded as they always try something new.
Understanding the needs of the consumer and providing facilities as per their want is important for an entrepreneur.
the customer always wants new things.
So these new generation entrepreneurs always try to make something creative or new.
Is passion is a way of becoming a successful entrepreneur??
To become an entrepreneur it takes a lot of time and effort.
So if you are not passionate about your work then you will easily give up.
So every entrepreneur is passionate about his work.
Because it is mandatory for the entrepreneur to love his work.
In the competitive marketing edge passion is one of the important steps to become an entrepreneur.
Every entrepreneur must be confident about his hard work, effort, and dedication.
They do things and make decisions on their own and don’t blame it on others. They have a clear vision as well as the mind.
Because the doubtful mind can destroy everything.
We all know that particular famous quote.
”Bigger the risk, Bigger the reward”.
Entrepreneurs do not mind failing or making a mistake.
They always try to take a risk. In the business, they first analyze the risk as it is as important as taking the one.
Well in the business risk is normal because you are a businessman, not an ordinary job holder who works 9 to 5.
So you have to take a risk in order to go up.
But here I do not mean that to take a risk without knowing the situation.
A lot of people takes a risk without even knowing the situation.
Well, it’s important to know the situation because if your risk causes no return then you are a moron!!
First, look over the situation then try to take the risk with the focus on reward.
Without managing there will be no country in the world.
We all know management is a universal function.
Which means its almost used in all type of organization from a coffee shop to the military.
Steps to become an entrepreneur include the higher level of managing skill.
Yes!! It’s true A good entrepreneur manages all things in a strategic way.
Especially these three Time, money, Manpower.
In my childhood, my mother and father always convince me to manage my time and money.
Well in my suggestion it’s the first responsibility of an individual to manage his/her time and money in their life.
”Time flows and it flows very fast”
We all know that but an entrepreneur knows that sophisticated than us.
Managing time in a relevant way is the daily meal of an entrepreneur.
Cuz a silly mistake in management will cost him/her millions of dollars.
So if you want to spend your time like a pro make two schedules one temporary another one is permanent.
Take my 3 pieces of advice on how to spend time.
No-1 Do your work according to the priority.
No-2 Destroy your distraction.
No-3 Take care of your self as well as your work.
Now let’s talk about money…
Let me ask you one question, what is pressure for you??
For an Entrepreneur, managing money is a big pressure as all works for money.
I will give you some few advice on spending your money correctly.
No-1 (Never spend money on unnecessary things)
No-2 ( Create the budget of your investment)
No-3 (Remove unnecessary expenses)
No-4 (Create emergency reserve)
No-5 (Save for long-term purposes)
So these are some advice on managing time and money if you want to become an entrepreneur.
Have you watch the Movie ”Godfather”??
In that movie, the lead actor quoted an incredible line.
” I WILL MAKE HIM AN OFFER
HE CAN’T REFUSE”
Well, it works both ways for an entrepreneur.
If you want to become an entrepreneur then you need some of the greatest marketing qualities so you can know the need of your consumers.
You have to make an offer to your consumers that they can’t refuse.
Its essential for you if you want to start your own company.
Nowadays we all know Digital marketing is booming at full speed so you have to learn the importance of and need for the digital marketing.
Read- Why digital marketing is the future.
A Great learner:-
Warren Buffet once said
” The more you learn
The more you earn”
This is Goddamn true.
Every successful entrepreneur is a learner. They hungry about the books, knowledge and learning new things.
So if you want to become an entrepreneur then avoid yourself from this modern bullshit like phone, video game, movies etc.
Invest your time in some book. You can learn new things which can help you in building your business.
There are many books you can read.
WOLF OF THE WALL STREET.
THINK AND GROW RICH.
THE GREATEST SALESMAN.
You know how important the communication is?
Everything depends upon your communication skills.
By good communication, you can handle big projects and you can get clients also.
You can influence your customers and senior by well communication and behaviors.
SO, eventually, your business getting more profits with your admirable communication skills.
Best subject for an Entrepreneur.
If I deeply look to the past statistic then no subject or course can make you an entrepreneur.
Anyone can be an entrepreneur without any degree or course it depends upon your passion, mindset, hard work, dedication, creativeness, and the problem-solving mentality.
But there is some subject are available that help you to become an entrepreneur and make your business career better.
This guide is about ”steps to becoming an entrepreneur” so here my responsibility is to guide you in step by step format.
So, let’s get started…
*MBA:- It stands for Master of business administration.
MBA is a 2 years post graduate course, here you learn basic to advance fundamentals and case-study of different businesses, organization policy, and all functionality with management.
Master of business administration is divided into different modules and courses.
You can choose any one or two specialization according to your interest in learning.
Actually, accounting is the very core part of any business/organization.
It consists of different courses like BCom in accounting and Chartered in Accounting and lots of certification courses are available.
The benefits of accounting are,
Think if you are an entrepreneur or businessman and you are strong in accounting concept then you can easily manage all Assets and liability of your business and also you can track your business financial condition with intelligent manners.
Business law is the law and policy of the business.
It generally provides principles that apply when it comes to making the business decision.
If you are an entrepreneur then you can know what is legal & illegal for business & you can also protect your business from outside threats.
Well, we literally know what is marketing.
Marketing is the heart and soul of every business and without proper marketing tactics, your business can’t exit in long run.
A good knowledge of marketing can provide you with a broad knowledge of business management, supply chain management, Statistic, branding, and positioning.
Through the well-defined marketing strategy, you can skyrocket your sells and improves your ROI(Return on investment).
In the marketing module, Digital marketing is the new Era of selling products and spreading brand awareness through the internet.
So it is the top essential components of any business and organization.
Also, there are other subjects are needed like computer science, psychology, entrepreneurship and data science with the statistic.
*Convert Complex to simple
According to me, the main Aim of an entrepreneur is to solve the problem of the market & society.
It is the responsibility of an entrepreneur to serve the solutions by converting to simple from the complex.
The main Goal of an entrepreneur is to find the problem of consumers or users.
By finding the problem of a consumer you can solve that problem intelligently and make your business successful and also you can Get lots of happy and satisfying customers.
So it is so important to convert complex to simple by your problem-solving mentality and make your product unique.
“Unique is Good but
Uniqueness is Worst…
Create Entry barrier:-
Yes, Create an Entry barrier in your business.
Try to solve the high level and hardest problems for consumers.
By solving a big problem you can create your business very harder for your competitor.
That’s why no one can easily copy your business model.
In that way, you can dominate the hole market and you have no competitor.
But create Big entry barrier is not very easy, you have to do lots of research and experiments.
Yes! In the entrepreneurship career, you have work patience fully…
Lots of business person/startup want to grow their business faster.
That is one of the biggest mistakes they do in their journey…
You have to remember that ‘‘Rom is not built in one day”, it takes lots of years to build a beautiful city.
So work mindfully on your business and try to solve your customers’ problem regularly, one day you will be successful.
So, don’t focus on your business promotion and growing…
Just focus on your consumers’ behaviors…Profits automatically come up.
So, become an entrepreneur never been easy, You have to work for that without getting any profits for more than years.
It’s really difficult but it’s possible to become an entrepreneur. In the small handy guide of steps to become an entrepreneur I have already describe lots of important points, you have to follow that.
To become an entrepreneur is totally depends on your mindset.
You have to think like an entrepreneur and also you have to take some action on your dream.
The most important things are to find peoples problem and try to solve that problem with your own expertise.
Always do something new and creative.
People want to see new things and want to experience upgraded and creative product and services.
So try to build your business with some creativity and innovation.
One must important things is that to be patience always. Just do your great work heartfully.
Most importantly I am saying to you find your passion and try to solve the problem through your passionate work. Only that things give you success in your entrepreneurial journey.
Also, make your daily life productive by keep learning mentality.
So here our article ends.
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