What It Takes to be an Entrepreneur

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What it takes to be an entrepreneur

I’ve been studying and interviewing female entrepreneurs and I’ve noticed some common themes.

In no particular order, this is what I’ve found:

Passion

Starting your own business is hard. Period. Whatever you are doing, make sure you are passionate about it. Why are you doing this? If it’s just for the money, trust me on this, it’s not enough to keep you going through the tough times. Did I mention there will be tough times? Being passionate about what you are doing will help you overcome the obstacles and give you the motivation you need to carry on.

Clarity

When I started my coaching business my mission was to “help everyone achieve their dreams!” It was a grand idea but the problem is, it’s so vague. You need to know what need you’re filling. Is there a gap in the marketplace? Is it a need to express your talent? And you need to know who has that need and is willing to pay for it. You should be crystal clear on what value you’re providing and who your ideal client is.

This will help you in a couple of ways. First, you can quit wasting your time on people who don’t want what you have to offer. Instead of talking to everyone, you can target the people who see the value of what you have to offer and want it.

Second, it makes it a whole lot easier to talk to others about what you’re doing. I used to hate going to networking events. I either got tongue tied or I could see their eyes glaze over and I knew I lost them. When you are passionate about what you do and you can specifically talk about the value you bring, people are a lot more receptive. You’re enthusiasm is contagious.

Support System

It is so much easier when you have supportive people in your corner. I didn’t and it wasn’t until I got a running partner that I realized how important it was. Many women I’ve interviewed or read about had supportive spouses who not only provided emotional support but were willing to jump in and lend a hand. It doesn’t have to be a spouse, it could be another family member, friend, coach or mentor.

Learn as you go

I recently wrote about “Not knowing is the path.” I used to have this belief that I had to know it all before I could begin. I now know that part of the journey, the exciting part if you ask me, is what you learn along the way. Sure, it means having to step outside of our comfort zone and that’s why so many people don’t do it. But as I’ve said, the entrepreneur’s journey isn’t all about building a business, it’s who you become in the process. You don’t have to know how to be an entrepreneur to start. You just have to be willing to learn.

Ask for Help

Along with “learning as you go” is not being afraid to ask for help. We don’t like to ask for help because we think we’re suppose to know it all and asking makes us appear weak, but guess what? Most people want to help and won’t look down on you for asking. As I’ve mentioned, there are things you need to learn so start asking questions.

Don’t be afraid to invest in experts such as lawyers, accountants, and other professionals. They can help you shorten your learning curve and prevent costly mistakes.

Know Yourself

Know what you like and don’t like to do. Know what you value. Know what your strengths are. Know what skills you have and what skills you need. Know what usually trips you up (fears, self-limiting beliefs) and strategies you’ve used to push through them in the past. Self-knowledge goes a long way in helping you determine what you want to create such as what business model to use (subscription base, brick and mortar store, online retailer, etc.

Believe in Yourself

I didn’t believe in myself for the longest time. I literally thought there was something wrong with me and was constantly trying to fix myself by trying to be more like other people. This turned me into a cranky bitch because I was constantly at war with myself.

After working with a coach, I realized that there was nothing wrong with me (other than the usual human frailties…) What a huge relief. Once I stopped fighting my true nature and accepted myself as the unique person I am, I was able to see all that I had accomplished. And if I was capable of learning how to walk, read, write, drive a car, knit, cook, etc, then I was capable of doing anything else. And so are you.

Sweat Equity

There’s no way getting around it. It will take action, aka hard work, to create a business, especially if you have a limited budget. You’ll probably be doing most, if not all the work in the beginning but learning your business is a good thing and worth the time. This is why it’s important to be passionate about what you’re doing. It will help keep you motivated and get you over the bumps.

If you look at this list, none of it is insurmountable. Whatever dream business you have, with creativity, clarity, passion and hard work, you can make it happen.

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