Entrepreneurs employ themselves, and like to work out how solve new and old problems for others; they're often keen on experimenting with what's possible. But why bother to become an entrepreneur or become self employed?
Arguably, everyone who works is self-employed: a key difference between someone who is "employed" and one is "self employed" is that people who work for a company or organisation have only a single customer or client: their employer.
Playful Ideas to Consider for People Thinking About Becoming Entrepreneurs or Becoming Self Employed
So let's explore one impression of the entrepreneurial lifestyle — a way of life that is perhaps more easily available today than ever before for people both younger and older than what we might at first expect.
Know that for pretty much anything, there's a better way — perhaps, waiting to be discovered by you
I suggest, make that our mantra, because that's why we do what we do. Solve an old problem in a new way, and you can have a lot of fun with that and create enormous value for others, your organization, and for yourself.
Wonder whether you can find at least three of those better ways. When you've done three, you're on a roll: why not aim for thirty-three — or more?
Since nothing new or better can emerge, or happen, without change. Yet change happens anyway.
If you don't become the engine of change is what you want to see, someone else will. Therefore, why not develop a special interest in the playful desire to break things: ideas, the status quo, accepted limits, etc? (How to you break an idea? You can work on that one).
Find out "what floats your particular boat". Decide what are your own primal drivers in life
If for you, that is just money alone, I suggest work for someone else, for a while at least.
Sometimes what we may look for too intensely, can elude us. Yet when we focus on things that really matter to other people like helping to solve their problems, or make life better, money can just flow in naturally.
I have no idea why things seem to work out that way. Perhaps people can sense when someone is more focused on themselves rather than actually doing what you say you're going to do.
Foster a strong desire to build personal freedom and self-determination
Try to reduce reliance on anyone else for your essential life resources. Why: if it is to be, it is up to you. Plus, also build in alternative sources and suppliers.
No one understands you better than you. But do enjoy listening, learning, contributing and sharing: it's a human thing.
Understand and appreciate what mistakes really are: simply learning hops
Get to intuitively know that mistakes are the norm, not the exception. We get it wrong, until we get it right — and that's okay.
Make your best plans. Research well, commit, then act
Expect to fail, but aim to fail fast, yet learn why we failed each time. Then move on to the next stage, adjust, and retry. After three such steps, you should start moving forward. If not, pause, and work out what's stopping you.
If you don't fail, good for you: you're the exception. Celebrate, and keep doing more of the same, until you start to fail, then readjust, rinse and repeat.
If you can shorten typical "progress patterns" like these, hit your jackpot sooner, wonderful!
Foster curiosity about the idea of a living non-standard lifestyle
Who said we have to have the house, the white picket fence, the mortgage, etc.? Maybe, for you, there's a different, better way. Minimalise, simplify, do what works for you.
If you decide to become an entrepreneur, get comfortable with the fact that you might need to work incredibly hard for the first few months
Then don't: or you might just burn out, or argue more with colleagues over trivialities, upset your partners, lose your perspective and focus, and simply make more mistakes. Snowballs can become bigger. Strive to work smart, not overly hard.
Practise much self-care. Resist the lure of continuous high excitement. Why: your thinking needs to be as clear as possible, calm, laser sharp. Get enough rest, and contrast from work. Take long weekends when you can.
Make a subconscious decision and commitment to be personally debt free within 10 years of starting entrepreneurship
While some debts may be considered "good debts" (some home mortgages perhaps) and other debts can often be viewed as "bad debts" (loan for a holiday), all debts are ... well debts.
If you personally don't have multiple debts, naturally, you're better off. Debt-free also offers great peace of mind.
But most of us need good debts at one time or another throughout our lifetimes. Just be mindful that each debt is a claim on you, your time, and your life force.
You may not actually meet the goal of becoming debt free within 10 years, or you may achieve debt free living in half that time, or less. Whether you do or don't isn't as important as writing and recording the idea in both your mind and in a digital / paper file.
Why: written words seem to have a mysterious magic: just trust me. Refer to your written goals regularly.
Aside from having a roof over our heads, enough to eat and drink, and simple clothes to wear, little seems to weigh many people down more than "the two-step twins" of:
- Debt, and ...
- Lack of control over how we get to spend our days and nights.
Resolve that to take at least one step each day to help reduce both of these toxic spectres from your life. Over time, little steps add up to a lot.
Strive to build multiple sources of income
Work out how to create different income types, ideally:
- Some income generators that deliver regularly.
- Some that pay you quarterly.
- Others that reward you yearly, and ...
- Some income drivers that you can turn on or off like a tap, based on need. Expect the unexpected — and you won't be surprised so much.
With multiple sources of income available to you, you'll have more security than working for a single employer, who may be your sole income provider.
In today's more uncertain world, relying on your employer alone could be more risky than working out how to create multiple and varied income sources.
Resist the urge to become over-awed about money
Who you know, and who wants to know you, is far more important. People are the juice that make your business work. Be patient, and persist against setbacks, barriers, and hurdles.
Determine something that is expandable from the outset
I suggest, absolutely do not start out wanting to change the world — just your world for now. Why: changing the world is a big job, extremely tiring. It's hard, and expensive for single entrepreneurs.
We meet resistance when trying to push people to do what we want. Yet we can attract people more easily — to our ideas, or product, or service, if they are sufficiently convinced, or sympathetic to what we're saying, or to what we're selling. Yet changing your world first is doable.
Earning respect is a great goal to foster alongside earning income
To thrive online, people have to at least like (or not dislike) us, before they'll invest in our creations, products, services. Explore the limits of those ideas.
If you're not naturally sincere and likable, practise until you project a warm first impression.
Become tribal. Consider building a tribe as you create your product or service
Here's why: people need to trust today, perhaps more than at any other time. When you're starting out, you don't have trusted brand. Distrust is everywhere.
Advertising is expensive — but of course can be incredibly useful when the numbers add up and work in your favour.
So build a free to join, opt in tribe around things that really matter to people. Ask questions. Find the missing piece in the jigsaw puzzle — then work out how to build that missing part, or work out how to become the key part yourself.
Perfect how to communicate well, clear, simply — and in an entertaining way, to pretty much everyone involved, as often as possible
The power of the story is unmistakable. From the dawn of time, we have yearned for stories. Make your own. The better we do this, the more easily we can reach our goals.
If our seed idea for a business is the first priority, great communication surely must be the second.
Try to develop honesty throughout everything you do
I know this can be difficult when were deluged with lies and dishonesty all around us. But in a sense, that's our opportunity. We can use that.
Make what you do for a living fun
We can't truly help others until we're in a good place mentally. But if you find a formula or recipe that works for you, look for ways to progressively help more and more people share in the fun — and expand powered by a light way of living and personal freedom first and foremost, but keeping a close eye on those all important costs.
Of course, we need to know the key numbers, work out how to spend less than we earn both personally and professionally
But focusing just on the money is not enough. To sustain ourselves for the longer term, we need to work on the emotion, the romance, the real reasons, the deeper values that benefit everyone concerned.
Light is better than heavy
Entrepreneurship is often too serious; too "all-or-nothing" mentality: try to keep everything in perspective. Outside of your business, there's another world doing its thing. Lighten up.
Consider getting excited about ideas, but draw the line at high intensity
Why: rabid excitement tends to have a short lifespan, soon starts getting tiring — then boring. We need to maintain and keep our energy and interest levels up.
Look for believable road maps from others
Has someone else already done what you want to do? If so, what can you learn from them?
Even though their maps — and journey — will always be different to yours, there are similarities, parallels, hints, tips, techniques, that we can all learn from, borrow, and build on.
I'm astonished and gratified by how much free and low cost help is available online. Use it.
Understand that while becoming an entrepreneur or going self-employed can seem risky, yet ...
... during a typical lifetime, it can be a lot less risky than not getting started and letting our inner light become crushed by the drudgery of a normal life, or bound to a specific way of working as an employee.
Moreover, once you work out how to be an entrepreneur — your way — you can be truly liberated from debt, drudgery, the need to constantly earn regular income, and from living on other peoples' terms.
Most importantly, feel free to ignore any or all of these ideas and develop your own road map
Or mix and match: do whatever works for you. Not everyone is suited to the life of an entrepreneur, and that's just fine. The world benefits from different kinds of people. There are multiple ways to the magic castle.
The strategy for the discoverers and entrepreneurs is to rely less on top-down planning and focus on maximum tinkering and recognizing opportunities when they present themselves. So I disagree with the followers of Marx and those of Adam Smith: the reason free markets work is because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or "incentives" for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can. Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable.