Since the boom of the internet and the consequential boom of internet millionaires, being an entrepreneur is a very fashionable career goal right now. Entrepreneurs have existed for a very long time, way before the internet, and people like the great Misha Kaura have been succeeding in this game for many years. The experience which Misha has is invaluable and so I asked if she may contribute to this post to give you some guidance on how you can create your own business and become the entrepreneur which you have always dreamed of.
The first step is to learn the key principles of what a business is and how it can operate with success. You can either do this by studying business at high school and college, or by working within a business and learning from those inside it. Key business principles such as financial management, building a team, knowing the market, spotting opportunities and managing growth are skills which you will be able to transfer to any business within any industry and they will form the foundation for everything which you do in the future.
Pick Your Passion
Don’t let your career aspirations overcome your passions when it comes to picking which business you wish to launch. If the selling of mobile phone accessories is an industry which is making a lot of money, but you don’t care about it, this is not going to be where you should aim your company. Pick something which you love, something which you care about and something which you know has a chance of doing well.
Learn to Lead
If you have no experience in leadership then you need to get some before you launch business, learning on the spot will not be very easy. Instead of trying to get a job which involves management you can look for network marketing companies to work for, where you will very quickly create and lead your own team. This can give invaluable experience which will help you later on.
Learning the Market
Prior to launching your business you have know your market inside out. You need to know exactly what the customers are buying and why, you need to know who the competition is, who has the market share and what impacts this market. The optimum time to learn this information is before launching a business, as once you start you simply won’t have time.
Taking the Risk
One of the bets qualities which successful entrepreneurs have is the ability to calculate risk and act upon it. Instead of waiting until everything is perfect, which it never is, go ahead and launch that business. Be realistic in your expectations and err on the side of caution. Don’t even think about making a lot of money in your first 2 years as these are the vital years for you, when you are learning about the job and how to succeed in business.
Be patient, be diligent and suck in as much information as you possibly can.