These days, we're all looking for something outside of the status quo, the rinse and repeat. If you're wondering how to become an entrepreneur, this article is a great place to start. Some entrepreneurs make their mark in the world at a very early age from as young as 15. To cite an example, tech whiz-kid, Elon Musk, who hails from sunny South Africa, co-founded a company (Zip2) at the tender age of 24! His firm specialized in software development and it was purchased by computer industry giant, Compaq, just four years later. When the company sold, the co-founders (Musk and his brother) divided a staggering 341 million dollars in cash and stock options.
As you can see, anything is possible, and being young or old isn’t a deterrent to reaching the highest level of success. In fact, youthfulness, energy, and spirit may be part of the reason why very young entrepreneurs between the ages of 18 and 25 frequently bust through obstacles and achieve their goals! Additionally, you'll be astonished to know that most men and women achieve their ultimate desired level of financial and career success between the ages of 40-68 years of age (Study from March 2014).
If you want to get past the “go to college, get a job” mindset, you’ll find that thinking outside of the box (with regard to entrepreneurship and/or investment) is the key to building wealth and gaining respect because people respect those who build something from the ground up despite any struggles that life throws at them.
While the secret of how to become an entrepreneur is often sheer drive, coupled with particular knowledge in a specific niche (or a truly ingenious idea!), there are some tips to keep in mind.
When combined with your own will, talent, and hard work, these tips may just give you the power to become the next Mark Zuckerberg (who does not have a college degree by the way).
Put Your Ego Aside
You Can Be Right
Or
You Can Be Rich.
Those who dream big in terms of business often have healthy self-worth which matches their ambitions and their results. However, entrepreneurs who want to make a huge and sustained impact do need to learn how to put their immature egos on the back-burner for a while. Building a new company is all about creating a team and any team needs to function effectively as a cohesive unit, allowing yourself to trust in others performance and work.
When considering your prospective company, be aware that proper team-building will require the creation of corporate culture and that you will be responsible for setting the tone for your team. Great corporate culture is all about making employees feel valued, heard, and respected.
Google is one example of a company that does have a superlative and world-renowned corporate culture. Google execs spend plenty of time trying to make their staff members happy, by promoting ethical and positive corporate values and by providing a host of perks, from free Starbucks coffee to sleep pods (for power naps!) and beyond. These execs surely have egos, but they downplay them in order to support their underlings and build a wonderful team. This is a valuable lesson in how to be an entrepreneur.
So, do think about how to build corporate culture early on. Doing so will also help you to attract the right sort of talent.
As you can see, it’s more important to show up than to show off! Creating corporate culture at your start-up will demonstrate your devotion to the well-being of your employees, whether there is one staff member or plenty, and it will define the core values of the company. It’s also a great foundation for growth and for preparing to market a corporate image successfully.
How to Invest with Little Capital
Entrepreneurship takes many forms. Some savvy entrepreneurs build capital and position themselves for extremely successful futures via investment. In other words, a young investor will learn how to become an entrepreneur by putting his or her money into ventures or stocks which have the potential to generate great profits in the future.
For this reason, developing the ability to spot viable investment opportunities will be one important aspect of how to become an entrepreneur. Usually, spotting opportunities happen after extensive research. We believe that you’ll learn how to make your own economy by analyzing and spotting opportunities in front of you and then deciding where (not if) and how to invest. Some people have a natural talent for spotting investment opportunities, while others may need a hand. Here at Sirius Design Group, we offer FREE Video Conference Consultations via Skype to answer any questions you may have about a wide variety of Entrepreneurship opportunities.
No matter which type of entrepreneur you are, be certain to do your homework before putting money into an investment opportunity. It’s always a gamble, but you may boost the odds of winning by knowing exactly what you’re getting into…
In terms of saving money, you should always save to invest money, never save just to save money. You'll always want to invest in things that will yield the highest Return on Investment, and Digital Real Estate is a good place to start because you can start a profiting business for less than it takes to buy a used Ford Focus!
Find a Mentor
Another tip on how to become an entrepreneur is to find a mentor online or in our community! In the digital age, it is very easy to reach out to worthy candidates. Once you find a mentor, you’ll be ready to learn how to become an entrepreneur from someone who really knows the drill.
Mentors are willing to share lots of practical business tips and advice with ambitious college grads – they do so in order to support business development in their own communities. Finding a great mentor will also help you to make important business connections that may pay off for you down the line.
Make Debt Pay You
Finally, consider the debt that you take on and then avoid debt that doesn’t pay off for you in some way. For example, if you’re going to put together a start-up company and you need a loan of any kind including a credit card, find one that offers AirMiles or some sort of points and incentives. You may use accumulated Air Miles in order to fly to important meetings in other places down the road. Finding ways to make debt pay off for you will help you to gain a foothold and stay on track with your start-up budget. One of the best things to do, as a student, is take a portion of your student loan and invest it into something like Digital Real Estate or the startup of a company because down the road it can be a major tax write off!
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