How To Go From Employee To Entrepreneur
Are you tired of the boredom, belittling salaries and backbreaking restrictions of your present job? Do you aspire to join the league of liberated, vibrant and bright entrepreneurs? If yes, then, this article is meant for you.
According to Oxford dictionary, an entrepreneur is a person who sets up a business or businesses, taking on financial risks in the hope of profit while an employee, on the other hand, is just a person employed for wages or salary. The difference between an employee and entrepreneur ranges from the work freedom to the limits of income. Most employees are underpaid and those, who are well paid, are overworked. Since you’ve made a choice to switch status, you must be prepared for the hurdles of entrepreneurship.
photo TheAndrasBarta Pixabay
As an individual, who is aspiring to become the next billionaire, you need to be equipped with useful knowledge before stepping into the noisy marketplace. Expatiate below are four undiluted but straightforward ways of transiting your status from a stressed-out employee to a successful entrepreneur:
Choose a Niche and Internalise Relevant Skills
The first task every entrepreneur-to-be must accomplish is to determine what area they would like to grow themselves. Unlike employees, entrepreneur ought to be able to think for themselves. Gone are the days when your work stipulations are determined and directed by a boss; every entrepreneur must decide what, where and when to work.
photo/ Stock Snap
It is advisable to choose areas where you are talented in because making life-changing money requires a significant amount of efforts and if you do not love what you do, you might just freak out at the end of the day, so choose the right niche.
If you do not have any niche you are passionate about; then, I advise that you try out a lot of niches before settling for the one you love most. Guess what! The difference between the wealthy entrepreneur and the wretched one is basically the affinity or connection between the entrepreneurs and their work. Finding your best niche is the billion dollar move you’ve been longing for. So do so and get set for the next step.
Fashion and Iron Out the Idea
An excellent entrepreneurial idea is one which emanates from the need to solve the societal problems. Such ideas must entail the cause of the problem, the solution and a good plan of execution. Ask yourself these three questions;
- a) What are the issues in my society that need to be attended to?
- b) What systems can I put in place to solve these problems?
- c) How can I build and maintain such systems?
As the famous adage goes thus, if we fail to plan, we are planning to fail. Oftentimes, many businessmen go bankrupt because their business has no basic idea on how to file for bankruptcy. Set your business apart from the rest and be ready for anything.
This idea plan would go a long way to define your business enterprise and literarily secure it. If you do not have an idea of invented solutions and workable strategies, endeavor to get one.
Start Small but Aim Big
On your journey as an entrepreneur, you will stumble on many ideas but it necessary to test your thoughts on a small platform before launching it big. Although you’ve done finished paperwork on the idea, but you still have to take the concept down to earth before taking it to the next level. During these times of idea testing, you have to keep your core idea to yourself in order to keep it safe. Do not be in haste to build a team.
Firstly figure out what it’s like doing it alone before setting up a more prominent company. Doing it alone will give you a hedge of experience and exposure over your employees-to-be. Also, starting small would give you the opportunity to make and learn from your mistakes without going bankrupt. Want to change ventures?
Build a Team and Make it Big
One thing you must know is that the bigger the business, the bigger the task. Sincerely no matter how intelligent or hardworking you are, only you cannot make a company. You would need like minded individuals in order to make your already established business larger but never employ unskilled workers, in a bid to expand your business.
The quality of output produced by your company will be primarily determined by these employees and believe me; you don’t want to be surrounded by amateurs. If you do not have the right human resources, you can firstly train the ones available before employing them full scale.
Try not to be a stiff-necked boss, who does not listen to the advice of his/her subordinates because no employee would give his/her best to a boss they do not love. Instead, be a motivational leader with a listening ear and a reticent work approach.
In conclusion, the journey of an entrepreneur is filled with many challenges, but you will succeed if you do not give up. Many people are fond of badmouthing entrepreneurship because of the difficulties involved, but those who critique it are ignorant of the freedom, enlightenment, growth, and wealth that come with it. I wish you all the best things the entrepreneur’s world can provide and always remember, in the world of entrepreneurship, there are no limitations to what you can achieve or whom you can become.
Author: Ritchie Hedderman
