For a while now, entrepreneurship has been vastly romanticized. With companies such as Facebook and Google which brought the founders extreme amount of success. people have become obsessed with the thought of being able of becoming entrepreneurs. However, there is a difference with a traditional career path and becoming an entrepreneur. With a traditional career path there is defined path to what steps follow, how to be an entrepreneur is a path that is a mystery to many.
That being said, here are five basic steps on how to be an entrepreneur which many, if not all entrepreneurs who have found success have followed:
1. Guarantee Financial Stability
Although not necessarily required, this step is highly recommended. Whereas entrepreneurs such as Mark Zuckerberg who was a college student, have been able to build successful business while not exactly financially stable, being financially stable is a great asset to an entrepreneur. Not only will being financially stable provide ample time to become successful, it will also decrease the amount of streçss which naturally accompanies becoming an entrepreneur. The focus should be on expanding a business, not making a few quick bucks.
2. A Diverse Skill Set Should Be Built
Once finances are strong, a diverse set of skills should be built and applied in the real world. This is a step which can be taken in conjunction with step one. The best way to build skill sets is to learn and even have a go at new tasks in a real world setting. Once an entrepreneur has built a skill set, they now have the tools to use if faced with difficult situations, which will definitely arise.
3. Become Knowledgeable
Knowledge is power, whether obtained from books, articles, podcasts or lectures it is crucial to soak up that knowledge. An entrepreneur must be familiar with all aspects of the world around them, they must have a fresh aspect of industries, this provides the ability needed to focus and build around a specific industry.
4. Find A Problem and Solve It
By identifying a problem whether it be a service or product that needs solving, an aspiring entrepreneur may even be able to build a business around having solved that problem. It is crucial however that steps three and four be combined, that way by taking a look at various industries from an outsider’s perspective, identifying a problem will be possible. This will allow the entrepreneur to see things with a fresh perspective, identifying problems others may not have seen.
5. Add Value To The Problem Which Was Uncovered
The final step is all about adding value within the problem that has already been identified. Only by being able to add value to solve a specific pain point or issue will an entrepreneur acquire success.
The five steps mentioned above are great stepping blocks to begin heading down the path of becoming a successful entrepreneur. It is also recommended to seek out those that have been there before and done that at some point, they may be able to provide invaluable advice that an entrepreneur can use to their benefit.