The world is changing, developing and constantly shifting. It has already changed so much before our very eyes. And it won’t stop. Every day innovation continues to advance upon the humanity and we need to think about what that means for the future of our livelihood.
There was a time when it was acceptable to go to school, get an education, and pick a profession. If you need me to say it: That time is gone. Enter: The Entrepreneur.
When I first set out to be an entrepreneur I wanted to bring a message of financial literacy to the world. I envisioned a more equitable economy where financial education could eventually translate into financial freedom. I was the definition of idealism, and in many ways I still am. But idealism without wisdom is folly. I quickly recognized that education alone was not the answer to balancing the equation. People needed to be empowered to increase cash flow in their lives.
It is common belief that if you pick a good career you will achieve financial stability. Well let me tell you something, its bullshit. The American Government recently shut down for over two weeks forcing hundreds of thousands of people to go without pay. No matter how much the employee budgets, saves, or invests, their financial future will always be precarious. The only way to achieve financial peace, freedom, and independence is to put yourself at the center of responsibility, instead of someone else. That’s all entrepreneurship is, really.
The word entrepreneur literally means “someone who undertakes some responsibility and pursues a goal with self motivation”. The original meaning does not imply an elite class of business creators. It describes a type of person who takes control of their fate. They take responsibility for their future and do whatever it takes to reach their goals. That is the essence of the entrepreneur and it is better that you learn this sooner rather than later.
It is often said that entrepreneurship is not for everyone. I won’t get philosophical about it, but statements like this create limiting mindsets. Don’t fall for it. If you have a (financial) goal, can create a strategy to achieve it, and take responsibility for your success, then you can become an entrepreneur. If you are thinking about taking the leap here are five things you should know before you begin.
You don’t have to know what you are doing.
Everything you ever need to know about anything that you could ever want to do can be searched on Google. In addition, there are a number of free online learning platforms that you can leverage along the way.
Don’t reinvent the wheel.
There is nothing new under the sun. Whatever you decide to do it needs to be cheaper, better, or more valuable than what is already on the market. It is also a good idea to find mentors who know the wheel well and can help you navigate your way around it more quickly.
Develop your connections. Network= Networth
Whether it is developing your personal relationships or building your online community, never underestimate the power of your connections. It does not matter if you have a business if no one knows about it. Your network is a valuable tool in finding opportunities and getting your business off the ground.
Get tough! You will hear a lot of No’s along the way
Don’t start your journey with unrealistic expectations. No one is saying that entrepreneurship is going to be easy. Doors will be closed in your face and you will hear plenty of no’s along the way. Just consider it to be part of the process.
Don’t Quit. Perseverance is the key to survival
Things will inevitably go wrong. You will want to give up, you will wonder if it’s worth it and you will question if you made the right decision. You will want to quit. Cope however you need to cope, and then keep going.
While no one can predict the future it’s safe to say that our economy is always evolving. Keep that in mind when you are creating your future financial plan and thinking about your career. These tips will help prepare you for the dawning of a new era when more and more people’s livelihood depends on entrepreneurship.