What would you do if you were boss? What if you were boss of the company you work for? What would you change? Do you think like an employee or an entrepreneur? Suddenly, you need to see the big picture vs. doing just a job. You should be performance focused rather than just doing a job. Planning for the future just became your number one priority! What would you do if you were boss?
I do not know about you, but I started thinking about this when I was about seven (7) year old. I remember going into F.W. Woolworth Company (Woolworth’s 5 & 10) and some clerk telling me to leave because I played with the toys. In my head, I remember thinking what I would do if I were boss. He or she probably did not view me as a possible customer or I was just messing up their display. If I bought the toy, it probably would not bother them I messed up their display.
Was my question an indication of a future entrepreneur or just a kid who was annoyed with a clerk? I do not really know! Maybe, it was just one of many signs of an entrepreneurial personality. Why is this important? Not everyone is cut out to be their own boss. Unless you have what it takes, don’t bother! Entrepreneurs usually start with a good idea and are willing to take a risk to make a change. Do you have what it takes to be an entrepreneur?
Becoming an entrepreneur is more like going into medicine. There are a lot of obstacles for most people to become a medical doctor. It takes four (4) years of college with an strong emphasis in the sciences (biology, chemistry or physics), four (4) years of medical school, residency program and a state medical license. There are enough hurdles to keep out people who are not willing to do what is necessary to become a physician. Being an entrepreneur does not guarantee success!
What does it take to become an entrepreneur?
- Risk taker – Entrepreneurs are willing to take risks! It starts with an idea which may be as simple as making a better hamburger or something much more innovative such SPANX. You are willing to sacrifice the security of a job, make an investment and many hours of hard work to make it successful. If that is not you, you may want to stick with your day job.
- Will an MBA help? – Education is great, but it is not all you need! Education is great to show an employer that you can achieve academic success. Yes, you learn useful tools, but you still need to know what to do with those tools. There are many great entrepreneurs who were undereducated or their education did not do much to help them achieve success. There is something else that drives successful entrepreneurs to greatness.
- Long hours – I used to tell my students that they should find a career that they are willing to do twenty (20) hours a day seven (7) days a week. It describes what entrepreneurs usually do. It is not because they are bad at it, instead it is because they love it. It inspires them to sped all their waking and perhaps sleeping time thinking about their work. If it is true, you should love what you do!
- Passion – The word passion is thrown around easily when it comes to entrepreneurship. You are supposed to be passionate about everything you do as a career, but particularly entrepreneurship. After all, you will work hard and spend a lot of hours doing it, you should love it. If you do, you will be good at it and paid well too. Pay is relative, but you will derive enough satisfaction and the money will follow.
- Figuring it out – Becoming an entrepreneur is a huge step. It is not enough to have the investment capital to start a business because you will blow through that if you do not have what it takes. You need to spend the time to figure out what really is important to you. If you are just quitting your job because of a bad boss or company, don’t start a business. If you have an idea and the passion to make it happen, you probably cannot let it go. You will want to eventually make it happen and you should.
Everyone wants their own business until they realize what it takes. There is no instant wealth and you work long hours to make it successful and the payoff in far in the future. There is something else that drives entrepreneurs and riches is not one of them. It is whatever idea for a product or service and how it will change something for the better. If you do not believe me, why do entrepreneurs keep working after they have more money than they can spend? What would you do if you were boss?
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