Entrepreneurship Isn’t for Everyone but Here’s How You Can Succeed

More and more people want to experience the freedom of becoming their own boss. Flexible schedules, increased autonomy, and countless other benefits have led these people to decide to become entrepreneurs.

Entrepreneurship exists on a scale – from self-employed contractors who work independently to Visionaries who use their ideas to build entire companies from nothing.

Maybe you fall somewhere between these two extremes. A proven business model can allow you to experience that freedom without the experimental risk-taking of creating something from scratch.

While determining whether you should choose the entrepreneurship path, consider these five points:

1. Honestly assess whether you have the makings of an entrepreneur.

Take a Clarity Break™ to reflect on and confirm your readiness to go out independently. For example, do you work independently without waiting for direction, feel comfortable taking risks, and prefer to ask for forgiveness rather than permission?

2. Identify the purpose that will fuel the fire in your belly.

Make a list of things you’re passionate about. Dig deep and flesh out how that translates into a proven income model.

3. Search through existing business models that align with your purpose.

Identify which business models work with your investment budget, being wary of any models where someone else makes money from your joining.

4. Decide who you want to operate the business.

Consider if you want to work hands-on or would rather hire a general manager to run your business’s day-to-day operations.

5. Gauge the business model’s support system.

Once you’ve narrowed business model options down to one or two, talk to people who already use them. Find out if the model has a proven record and resources to support you with sales, marketing, business development, and anything else you might need.

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