In the US, there are over 31 million entrepreneurs. Considering you can make your own hours and pursue what you’re truly passionate about, it’s no surprise why there are so many Americans who have hung up their 9-to-5 hats in favour of entrepreneurial ones.
Have you yourself been wondering, “how do I become an entrepreneur?” Then read on. We’ll show you some easy steps to becoming your own boss.
How Do I Become an Entrepreneur?
Becoming an entrepreneur isn’t an easy feat. You don’t just quit your job and have a successful business grow overnight. Before you jump in feet first, think about these things first.
What Problems Need to Be Solved?
You might have a fantastic business idea. But the truth is, it won’t be that fantastic if everyone else in the neighbourhood already thought of it. You want to pick a niche that you’re still passionate in but needs filling. This might require some research.
Get Education and Training if Needed
Some industries will require more education and training than others. If in your research, you find out that you aren’t quite an expert in your niche, it can only do you good in the long run to get some education and training.
In the meantime, you shouldn’t quit your 9-to-5 just yet, as you’ll need to have some capital to start your business. Not to mention, having an existing income will help immensely with paying the bills as well.
Put Together a Business Plan
What do you hope to accomplish in the next year? What do you hope you’ve accomplished in 5 years? The only way to really achieve those goals is to put together a business plan. Otherwise, you’ll be flailing when it comes time to actually start your business.
Things to consider include:
- How you’re getting capital
- Number of employees
- Space to use (especially if you need to rent)
- How to source and/or produce your products
- Marketing
- Bookkeeping and payroll
- Taxes
When it comes to your payroll, it’s helpful to look at a pay stub example. This can help you determine what important information you need to get and put down.
Get to Networking
Based on your business plan, chances are, you’ll need to rely on other professionals to get your business off the ground, such as marketers and accountants.
Take every chance you can to network and get those connections in. You never know when you’ll need the help of these experts, and when you do, you’ll know who to contact.
Start Your Business
Now that you have a solid business plan and direction, it’s time to start your business! File the appropriate paperwork to get everything in order, which can include things like permits. You would also need a registered agent to serve as the point of contact between you and the state. If you have no idea what a registered agent is, you can read this to get an idea as well as a list of some reputable services.
Then, sit back and watch your dream become a reality!
Enjoy the Benefits of Being an Entrepreneur
Now you know the answer to the question: how do I become an entrepreneur? While it might be scary to leave the familiarity of a 9-to-5 job, it’ll all be worth it when you can strike out on your own. So take the information from this small guide and open some exciting new doors of opportunity!
Did you like this article on how to be an entrepreneur? Then read our other blog posts for more helpful information!
