Boost Your Earning Potential - How To Be a Successful Entrepreneur
Last week, I spoke to a CPA who specializes in small businesses. This week, guest blogger Lawrence Mager shares tips on what it takes to start a small business or side hustle... Do you sense the theme? Start making your own money, my friends! Here's how and what you should know...
If your job has taken a hit or you’re simply feeling burned out, consider starting over in an entrepreneurial role. Perhaps it’s time to become your own boss, reshape your lifestyle, and boost your earning potential.
If you’re good at seeing the big picture yet capable of catching details, are highly self-motivated and tenacious, can stay productive, and you don’t mind flying solo, those are all signs you could become a successful entrepreneur.
If you aren’t sure what niche might fit you best, consider dipping into a side gig to get started. It’s a chance to try something on for size, and if it doesn’t fit, you don’t have a ton of time or money invested, so it’s not so challenging to make another switch.
Another idea is to take an online assessment to see what sort of options might fit your personality type and work style. Also take into account any special unused skills you have, and how you could put them to work. For instance, if you’re multilingual, becoming a tutor or interpreter are possibilities. If a degree or certification is required to reach your goal, you can take classes online from a number of colleges throughout the U.S.
Time to Take the Lead
Having your own business can be extremely satisfying. As a budding entrepreneur, you get to see something you’ve nurtured grow from the ground up. But that’s just one of the many benefits of starting your own business. As an entrepreneur, you can also set your own schedule, pick your direction, and of course, be your own boss. With all that in mind, here’s how to formulate a path to success...
1. Pursue Your Passion
Passion is a hot topic these days and for good reason, as it can be a determining factor for ongoing success. When your business is flourishing, you may sense that a permanent state of success will always be the norm, but to get what you value most, you must continuously put in work to reap the rewards.
2. Become a Self-Starter
When you have a fledgling business, results may not come right away. As with any chosen career path, becoming an entrepreneur means setting goals. However, that doesn’t mean you should rely solely on your own insights. Especially when starting out and needing direction, plan to network with other self-starters within your field, since they can help you gain the tools and insights you need for growth.
3. Set Up Shop Online
Although setting a career path and networking will definitely help get the ball rolling, you also need to set up shop online, and that includes creating a solid, reliable website as well as making your presence known on social media. And while creating a social media profile won’t take you very long — you can set up an account in mere minutes — designing a website will take a little more work. Instead of doing the work of designing the site yourself, consider hiring a freelance web designer to customize your site. If you need more specialized work completed, look for PHP developers, JavaScript developers, UI designers, and many more types of professionals.
Test Your Resilience
Are you resilient?
Resilience is a “super-skill” that’s learned throughout life. Even if you experienced a setback within your career, it’s time to shift your attention on what you can do in order to better your situation. Resilience encourages us to adjust priorities and shift our mindset from negative to positive.
Additionally, resilience helps you gain control of your own investments, in terms of time, money, and energy. It’ll help you overcome challenges in your startup, and acquire the know-how to achieve success. Though Forbes points out failure is inevitable, resilience gives you clarity, resulting in expansion. Should you choose to extend a venture into other realms, these tools will not only help you succeed in business but in life as well.
Entrepreneurship is all about overcoming failure and resisting the urge to give up. Misfortunes can give us ammunition to see what we’re made of, and become a tool to leave behind your comfort zone and failures. Once you’ve set your focus on a new plan, the sky's the limit.
Lawrence Mager is a mental fitness expert researching how brain exercises can help reduce the risk of Alzheimer’s Disease. He enjoys writing about mental fitness games, puzzles, and other resources.