The best advice I received in my life came from a close friend, “You have a great idea, it’s true, but you should have an even better plan before taking the leap!”
The American dream is incredible, many people come here in search for it. In order to succeed as an entrepreneur, you will have to quit your job and tackle you passion project head on. You will need to dedicate the time to your business in order for it to grow, but you must ask yourself, “Am I ready to do that?”
Having a plan together will help you to make sure that you are not walking into the complete unknown. Your plan does not guarantee that you will not endure challenges, but it will prepare, and keep you organized.
Entrepreneurship is a mindset. You have to make sure that you are ready to embrace the mindset of a dedicated, passionate, and in turn, successful entrepreneur. You will have to be willing to make sacrifices and do whatever it takes to achieve success.
You can be okay, or you can be great. The greats start before anyone else is up, and lay their heads down long after everyone else has gone to sleep. Ask yourself if you can commit to this. Learn the habits of unicorn entrepreneurs to become better each day.
Do the Research
Once you know that entrepreneurship is for you, you need to do the research. Take the time to make sure you are prepared. Now-a-days, every subject seems to be out there for you to research and find the best way to accomplish it. Just about anything has a plethora of information. Look for information on the work and art of entrepreneurship and leadership.
- Understand your market, industry
- Find out what has worked and failed for others
- What are your competitors doing, where are they
- How much will it cost you
- Paperwork and filling processes
It costs money to launch a business, even with companies that offer minimal startup costs, discipline will be required. You may have to learn new skills in order to tackle them yourself, wearing many hats will be a necessity, if you do not have the capital to outsource.
Saving your money now will also help to simplify the process of starting your business. Start working on your discipline while you still have a job, and keep putting money away on a regular basis, not only for your startup costs, but for those early days when you may not have enough sales to keep you on your feet.
Put Together an Incredible Business Plan
Having a plan will make the journey less daunting, with less unpleasant surprises along the way because you will be better prepared, and you will have a thorough understanding of where you need to go and why.
The business plan will also help you to secure capital and to build a great team.
Maybe having a business partner is the direction in which you would like to go. If not, save more money. If you are looking for a partner, you should be able to convince somebody to jump on that ship with you. Knowing and understanding your product, market, costs and direction in which you would like to go will help you to communicate effectively for yourself and a potential business partner.
The idea of leaving your 9 to 5 behind can be daunting, but preparing for what is to come will help you be able to leave that security with less trepidation and with more confidence. There are a lot of great resources online for new entrepreneurs that can help to guide you on this incredible new life journey.