20 Tips for Becoming an Entrepreneur

I cannot tell a lie.  I love being an entrepreneur.  There is just nothing else like it.

Back in 1986 I was bitten with the bug and even though there were a few times where I had to take a job to make ends meet, I always kept one of my ventures going on the side.  Once you are addicted to the freedom and rush of doing your own thing, it doesn’t feel right to do anything else.

People continually ask me for advice about launching their own business and while there are so many in-depth conversations I could provide, I just want to share some quick tips that I recommend anybody ready to make the leap to think about.

  1. Do it. Plain and simple…you will never know what you are missing, succeed or fail, until you do it.
  2. Love what you do. Start off with something you really enjoy or get excited about.  It helps you through hard days.
  3. Don’t be a perfectionist. People who take too long never launch.  I owe this insight to Cory Miller.
  4. Make money, but don’t obsess over it. If all you chase is the money, you won’t find satisfaction – ever!
  5. Create a plan. It doesn’t have to be a 500 page book.  Write down goals and milestones for year one to start.
  6. Use social media to your advantage.  Pick a few tools and use them wisely for your benefit.
  7. Learn from others. If you can get entrepreneurs to share, even if you have to pay, do it.  It will be a tremendous asset.
  8. Don’t waste money. Advertising, fancy offices, expensive office equipment are usually a waste.  Keep your cash for other things.
  9. Don’t waste time. Time is precious and easy to burn.  Say no to anything that doesn’t get you closer to your goals.
  10. Protect your dream. People like to bring you down so be wise who you talk to or share your ideas with.
  11. Read books. You can learn so much from reading so make it a habit.
  12. Focus. Pick your horse and stick with it.  Changing your mind daily will kill you and your business.
  13. Create boundaries. Make sure you set rules for work hours and limit interruptions.
  14. Work smart and work hard. You can’t easily build a business but you can make some things easier.
  15. Don’t give up. Too many people quit too soon.  Only give up if you know the dream is dead.
  16. Take time off. Working longer without breaks kills productivity.  I promise!
  17. Fire customers and clients if needed. No, customers are not always right or a match for you.
  18. Learn to say no. Go with your gut if something doesn’t feel right.  Be willing to walk away.
  19. Be confident. Charge what your worth.  Believe in yourself or product.
  20. Be willing to fail. No one succeeds all the time and even in our failures we learn a lot.  Take a risk and don’t look back.

Of course there’s more, there always is.  But keeping these twenty tips for becoming an entrepreneur in mind will be a great platform for making that leap!

3 Comments

  1. uberVU - social comments on February 10, 2010 at 2:30 am

    Social comments and analytics for this post…

    This post was mentioned on Twitter by glennsnews: 20 Tips for Becoming an Entrepreneur | James Dalman : Custom … http://bit.ly/cH5QoT

  2. Michael Jamison on February 10, 2010 at 5:30 pm

    Hi
    Thank you for this great post, i hope you don’t mind but i have excerpted the 20 tips for a post on my blog, i have included a link for this.
    Regards

  3. […] Be confident. Charge what your worth.  Believe in yourself or product. […]

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