What does entrepreneurship mean or what does it take to be an entrepreneur? The concept of entrepreneurship gained popularity with the growth in the digital era, that enables anyone to set up an online platform, portfolio, or an online shop. However, the definition of entrepreneurship is not set, but to put it simply:
“An entrepreneur who sees a problem in the world is focused on creating the solution to solve this problem.”
Entrepreneurs are innovative and they create change. And you don’t need a specific idea to be an entrepreneur, just the right mindset, motivation, and the skills.
Young Entrepreneur Tank is a platform for everyone who wants to get into the entrepreneur mindset, develop the motivation and the required skill set to succeed as an entrepreneur.
What no one tells You about being an Entrepreneur
Entrepreneurship is often associated with working on your own terms, being flexible with your time and being your own boss. But there are certain aspects of being an entrepreneur that no one tells you. Here are some of these aspects, that you need to be aware of.
Self-Motivation: this is the most important foundation of an entrepreneur. There is no external pressure or motivation to keep you on track with your timeline and your to-dos. It all depends on your own motivation to sit down and put in the work required, and then some more, to succeed. You may be able to break away from the 9 – 5 Grind, but you are probably going to end up with a daily 16-hour hustle until your business takes off. Thus, procrastination is something you cannot afford when you are starting out on your own. Procrastinate for even a day and it’s game over!
Self-motivation also means to train your mind as much as you can with podcasts, books, articles, and materials that get your inspiration flowing. This means less “Netflix and Chill” and more “Ted-Talks and Scribd”.
Financially speaking, you are not going be the next Scrooge McDuck. To build up a business that is profitable will take time. And once the revenue starts to come in, you probably want to invest it back into the business instead of buying a Maserati for yourself. So, do not start out to be an entrepreneur in the hopes of getting rich overnight.
Another challenge as an entrepreneur is that to think of everything and do everything on your own – from creating a marketing campaign to managing a balance sheet. With time you will have a to build a team - people with complementary skill set so that the business runs smoothly as it expands. However, finding the dream team can also be challenging. So, be prepared to mix and match until you find the right fit.
There will be a lot of rejection. And it may also feel personal sometimes. The important thing is to learn to ignore that and move forward with what you believe in. Remember, David Letterman made fun of Bill Gates in 1995 when he explained the Internet to him.
There are several more barriers that you will come across on your journey as an entrepreneur. You may read about some of them on the internet, you may hear about some from a fellow entrepreneur and there will be yet others that you will face on your own. The important thing is to not be disheartened by them and to keep yourself motivated to move forward.
Be a Part of
YOUNG ENTREPRENEUR TRIBE
Young Entrepreneur Tank (YET) is a platform for young people who wants to create their own personal brand and embark on the entrepreneur journey. This platform will provide you with resources to develop the skill set you need as an entrepreneur, inspirations to build your business and other interesting materials to help you develop your personal brand.