From the outside, becoming an entrepreneur can seem so simple: Take a good idea, create a business around it and rake in profit. Reality isn’t as kind, however. Projects are constantly evolving, requiring regular hard work and deep thought to stay ahead, and not everything works out the way you might imagine. This means that anyone looking to become an entrepreneur needs to be well informed about what they’re getting into before jumping into an industry.
Related blog posts and resources:
To that end, we asked 14 entrepreneurs from YEC to share the key considerations they believe people need to take into account before taking the plunge and becoming a business owner. Here’s what they said:
1. Uncertainty and Massive Risk
Most folks are aware of the risks of starting up their own business, especially with such a high percentage of businesses failing. Yet the concept of uncertainty is not discussed as often. As an entrepreneur, for the first 12 months (if you’re lucky), you may not know where or when your next paycheck is coming. It’s important to secure financial stability in some form.
2. Passion Over Currency
You’ve got to be really passionate on whatever industry or business you get into. Because if you’re not, you will end up quitting. Working to achieve certain amount of money is good and all, but your passion needs to outweigh it. Entrepreneurship is not for the weak minded. You will face adversities, struggle and failure. Now if you’re passionate and enjoy what you do, you will succeed eventually. – Fritz Colcol, ABN Circle
3. Who Are You?
An entrepreneur recently asked me, when should I take the plunge? My response: Well, who are you? Are you the boss? The leader? The don’t-take-no-for-an-answer, I’ll-do-whatever-it-takes, unequivocal dictator? If that feeling is in your blood, then go start a company now. If that idea doesn’t fire you up, you’ll always fight your play-it-safe identity. Which one resonates more with you?
4. Know What You Want
All entrepreneurs work extremely hard. My day starts at 4 a.m. because I don’t want to compromise and lose focus on my family and my health. After a full day of work, I still want to make time for the kids, read and put them to bed before getting back on emails. There are a lot of days when you question your choices so without a strong reason to do it, it is easy to give up!
– Amishi Takalkar, NAILBITER
You need to be willing to persist, even though it might take a long time before you start seeing a profit. Making a new business profitable takes time, money and lots of endurance.
6. Downside, Upside and Fixed Costs
Before taking the plunge, you will want to consider the downside of potentially not making money right away. The upside is easy to consider, as that is what’s speaking to you in the first place. You also want to weigh your fixed expenses and your obligations that will need to be met so you can calculate how much you need to generate to get by.
7. Your Parenting Skills
Becoming an entrepreneur is something like becoming a parent. When you create something that will require a lot of investment and you can’t quit on it even in bad times. If you want your business baby to grow up into a valuable, contributing member of society, then you’ll have to use all your resources to give it the best means to succeed. And of course, a good partner can make all the difference.
8. Tolerance for Failure and Change
Entrepreneurs often have to pivot or know when something isn’t working in order to make that change or give up on an idea. You need to consider if you have the ability to do that as well as handle the possibility for failure and keep going. It’s important to be resilient and not let barriers get to you. If you can learn from failure, then you have the fortitude to be an entrepreneur.
9. How Soon You Expect to Make Money
It’s important to have a clear business plan for yourself on the action steps that you need to take to start making money and grow your business. Create cash-flow projections, marketing plans and everything you would present to an investor. Many entrepreneurs think that if they don’t have investors, they don’t need a business plan. Don’t fall into this trap. You’re an investor too.
10. Setting Your Pride Aside
Don’t be swept away by the sexy titles like “Founder” or other titles that start with the letter “C.” Being an entrepreneur means being the janitor, the outside salesperson, the tax accountant, the roofer and (sometimes!) the exterminator. Your hands will get dirty and you will do unsexy work that’s far outside your comfort zone. Consider carefully if you’re up for the task.
11. How Much Time It Takes
It doesn’t matter what business you want to start, it’s going to take time. Probably a lot more time than your worst estimate. Getting clients doesn’t come easy even with a well-laid-out marketing plan (hopefully you have one). So be prepared to dig in, to follow through, to work at it hard and then even harder. Don’t get discouraged; perseverance is key!
12. Support Levels
Those entrepreneurs I know as well as myself all have asked ourselves if everyone close to us is supportive and on-board. You need to have them there to help and support you or it won’t work. They don’t have to work in the business per se, but they must be willing to ride out the ups and downs and take on extra to make it happen.
13. What You Are Willing to Risk
If you aren’t willing to make major sacrifices — including financial security, seeing friends, free nights and weekends, low stress — then being an entrepreneur is not for you. However, one can’t fully understand the extent of these sacrifices until they start and experience the first signs of suffering, but you’ll quickly understand, and then the question becomes: “How badly do you want this?”
14. Product and Market Fit
Before making any investment of your resources into a product or service, you have to objectively ask yourself: “Does this product or service solve a genuine problem for an existing segment of a reachable marketplace?” With a sober weighing of the product and market fit question, you’re more likely to select the more fruitful diving spots in the entrepreneurial pool.
4 Passive Blog Promotion Methods Nobody Thinks of
Most bloggers brainstorm ways to promote blog posts after publishing blog posts.
Related blog posts and resources:
This is active blog promotion.
Nobody thinks of passive blog promotion methods.
Doing a smash up job before promoting posts actively leads to passive promotion.
If you get clear and create a smart post, organic promotion takes off.
Before I even touch a social sharing button on Blogging From Paradise, any one of my blog posts get 5, 10 or 20 retweets organically, based on the blog post quality and nothing else.
Do a good job pre-promotion to reap the benefits of passive, organic blog promotion.
Plus you need to leverage to become a highly successful, professional blogger who enjoys an offline life, too.
1: Cover Only One Blog Topic
Covering only one blog topic makes you an expert.
People promote experts freely.
Readers join big dawg blogger lists and follow big dawg blogger feeds. Said readers freely promote top bloggers based on their expert status alone.
Being an expert requires you to blog on one topic. Build your authority in one niche. Be a known commodity. Enjoy organic, passive promotion through your expert status.
2: Write Inspired Blog Posts
People freely promote inspired blog posts.
My blog posts tend to get shared freely and easily because I uplift, inspire and influence my readers to succeed via all posts.
Creating something inspired, energizing and valuable every time you publish a post.
Allow the post to gain passive, organic promotional momentum.
Many of my posts generate organic promotion through:
- other blog features and mentions
- other blogger’s promoting said posts to their email lists
- other blogger’s social media streams
Take your time.
Write and publish something memorable every time out.
Boost passive promotion momentum.
3: Make it Easy to Share Blog Posts
Make it easy to share blog posts.
Increase passive promotion.
This was from my trip to Turkey.
Observe my social share buttons. Readers finish reading and easily hit a retweet or Facebook Share button.
Post social share buttons in easy to see, easy to access spots. Make sure buttons feature themselves equally prominent on mobile devices.
Make it easy to share blog posts quickly to boost organic promotion.
4: Invest in a Clean Theme
Clean, clear, professional-looking blog themes encourage easier passive, organic blog post promotion because no distractions pull readers from promoting posts on such themes.
Observe my theme. Do you feel confused after reading a blog post? On laptop, Chromebook or mobile, my theme appears clear, clean, sleek and professional.
Clean themes focus readers on reading content, sharing content and buying premium offerings.
Invest money in a clear, professional-looking theme.
See increased blogging success along with increased passive blog post promotion.
Think Like a Success
Abe Lincoln said if he had 6 hours to cut down a tree he would spend 4 hours sharpening the axe.
Your blog post is like the axe. Spending more time and energy writing and publishing a fabulous post increases organic, passive promotion quickly. Toss in increased business profits to see why it pays to do an excellent job sticking to your niche, writing a valuable posts, making social share buttons easy to find and investing money in a clean theme.
The more you follow these 4 tips, the more your blog post promotes itself.
How Long Should a Weekly Blog Post Be?
All blog posts should span a length sufficient enough to fulfill the title promise.
Related blog posts and resources:
Give no thought to publishing frequency as you ponder blog post length.
If you publish the weekly post with the fear-energy of “This better be long enough or it will not be valuable because I am not publishing again until next week”, the fear-energy manifests as a crappy, bloated, heavy post.
Most bloggers write posts from an energy of fear, scarcity and lack. Many bloggers believe they are not good enough.
Said negative energies goad bloggers to:
- write bloated posts
- write boring posts
- write posts with filler
because these bloggers believe blog post quality quality depends on a specific word count more than anything else.
Blog post value depends on:
- fulfilling the title promise
- covering the title promise in clear, thorough, concise fashion
- adding enough knowledge to answer the core post question and nothing more
Never ponder blog post frequency before picking a blog post word length.
Thinking frequency creates scarcity-based, “not enough”, mental cross currents that add a poverty conscious, lack conscious, scarcity energy to your writing.
Guaranteed; if you feel like your post length will not be enough because you post weekly, you try too hard to overcome the “not enough” energy and make the post way too long, filling it with wordy sentences, bloated paragraphs and an overall boring experience.
The Ultimate Blogging Curse
Have you ever written a dazzling, 2000 word, in-depth, clear, crisp, concise post, and nobody shows up to read it?
You cling to the ultimate blogging curse; your predominant fear energy of “not good enough or not long enough” overrides your writing brilliance.
You cannot outsmart your predominant energy. If you fear, fear mirrors back to you through your blogging results.
This is from my 2 month trip to Oman.
Imagine publishing one brilliant, genius, clear, concise blog post weekly. If you fear 800 words is not enough, the fear mirrors back to you as no readers, no profits, and blogging failure.
Visualize yourself publishing one 800 word post weekly from a whole, complete, calm, confident, happy energy. 800 words is enough to you. 800 words inspires your readers, you believe, in your mind.
The 800 word, weekly post generates a ton of traffic based on your:
- belief system
First, strengthen your mental muscle. Be positive. Visualize your blogging success. Count blogging wins.
Proceed to write a weekly blog post from this success conscious, positive vibe, to find your ideal word count.
One General Ground Rule
Most bloggers and readers accept 600 words as the minimum count for a blog post.
Break the minimum rule if your intuition tells you to break it. But if not, start at 600 words as the ideal benchmark and go from there.
The Best Advice
Choose a blog post title inspiring your readers to succeed.
Create an outline.
Think 600 words minimum, but, just write.
Allow words to flow.
Give no thought to blog post frequency as you write; projecting into the future takes you out of the moment, out of your flow, and you leave your power behind.
Focus your attention and energy on having fun helping your readers succeed. Allow the words to flow.
I never read a success-promoting post that felt good to read and said to myself, “But I wished the post were 2,000 words long because now I have to wait for next week to read another post.”
We live in abundance.
If someone wants more content that someone can:
Success is your birthright.
You were born rich.
Feel whole and complete if you publish a 600 word post weekly.
Feel whole and complete if you publish a 2000 word post weekly.
Feeling whole and complete attracts to you readers who enjoy your 600, 1000, and 2000 word posts.
The only thing that matters is writing clear, concise, crisp posts that deliver on the title promise, from a calm, confident, abundant, detached, success-conscious energy.
1 Surprising Aspect of Successful Blogging that Woke Me Up
You guys know by now; I am all about blogging mindset tips.
Related blog posts and resources:
One such tip woke me up.
I saw the outright surprising influence following said tip had on:
- my blogging success
- my life
- my overall happiness
Years ago I struggled to see blogging success. Today I succeed with greater and greater ease.
I know you succeed now. But if you desire increasing success, take this successful blogging tip to heart.
This next level tip makes you experience dizzying blogging success.
Give No Attention and Energy to Negativity and Give 100% Attention and Energy to Positive Ideas, People and Interactions
During a morning walk with my wife today, I noted how some folks email me asking how I am enjoying traveling the world. Traveling is in my blood. Traveling is my soul speaking out loud. I let people know how I deeply enjoy my travels. Anybody with eyes for seeing knows this, and never asks the question. This would be like asking Picasso if he enjoyed painting.
I tend to get a really odd response – that is not so odd really – from a handful of folks; said people respond with an emotional reaction, describing how they dislike travel and how they love their hometown. Who cares? Why would you email someone to tell them how much you love your way of life and how much you dislike another person’s life?
This is a negative, lower energy reaction suggesting an unclear person who wants to live your life but fears making bold moves to live it. Either way, I completely ignore the lower energies and lower energy interactions and voila! I became more and more successful with greater ease. Why? Where your attention and energy goes, grows.
Some people tell me to stop thanking them individually. I ignore their negativity, because if you cannot express gratitude or make a connection based on someone thanking you, you vibe lower on the energetic scale.
I never give attention and energy to someone who is trashing other bloggers because this is a negative weakness manifest, and I don’t do negativity, or weakness.
Friends Change and Some Friendships Evolve into Different Relationships
I deeply love my friends but as I get clearer and see greater success, I give zero attention and energy to negativity from any one of my friends. Success consciousness thing.
I also released many former friends who I vibed with when I was failing, and more negative, and who I no longer vibed with when I became more positive and successful. Friends change. Some friends visit for a while and you need release them.
Other friends remain friends but your bond changes and evolves into something different. Friends attempting to pull me into negative bashing or judging or trashing quickly see I give no energy to such negativity anymore. Sure we are still friends, but the bond evolves from a different dynamic now.
Why Ignoring Negative Situations Makes You Successful
Where your attention and energy goes, grows.
Give your attention only to positive people, positive interactions and success, and your positive ideas, positive friend network and success expands. Easy peasy.
Energetic momentum builds. Move higher in blogging circles. Paying customers arrive. Paying clients pop up in your experience.
Your blanket, conscious choice to give your attention and energy only to positive people, situations and circumstances accelerated your success.
The key is to completely commit to never giving your attention and energy to negative interactions.
The unclear, admiring people who asked you already if you love travel, only to react with the idea that they love their life, or the thanking rejectors, or bashers, never get one split second of your energy, going forward.
Prosper by giving your energy only to positive vibes.
Search Blogging Tips
Blogging3 years ago
6 Tools For Boosting Content Marketing Results Over The Holidays
Blogging9 months ago
113 Bloggers share their Favorite Email Marketing Tools
Blogging2 years ago
6 Steps for How I Nabbed 6500 Comments on My Blog
Search Engine Optimisation3 years ago
7 SEO Analysis Tools Every Blogger Needs to Know
Blogging12 years ago
CoComment – The new way to track blog comments
Blogging2 years ago
How to Become a Nimble Blogger
Blogging2 years ago
How to Start a Fashion Blog in 8 Simple Steps
Blogging2 years ago
57 Must-Read Books For Entrepreneurs Recommended by Entrepreneurs