Freedom of entrepreneurship
Your natural right.
If you would take legislation of your country, then the general rule would be as follows: if you want to become a private entrepreneur, you first have to register yourself as one.
In other words, society considers your natural status as being an employee, not entrepreneur. And educational system works respectively.
As an employee you perform some limited amount of job and get paid some limited amount of money. Your working time is also limited.
While entrepreneur is unlimited in almost every respect. You could even say, that entrepreneur is a free person. And this is not exactly a good thing.
Freedom comes with responsibility, which most of us just cannot handle quite yet. As an entrepreneur, you are the only person, responsible for your income. And if you failed to generate any, then you have no income at all. Employee, on other hand, almost always knows how much and when some money is going to come.
It looks like the main concern, why people stay away from starting something on their own, is the concern to burn all the cash into your endeavour and get nothing in return. An itchy noise, that if I fail, then how shall I pay my bills and my rent and stuff?
Being myself an entrepreneur for around 10 years already, after some falls and rises, which eventually just happen, I can say that entrepreneurship is like building a railroad in front of a moving train. And the bigger your business appears to be, the faster this train moves.
The railroad is your income and receivables. While train is your expenses and payables, obviously. So you are constantly trying to make your income to be longer than your expenses.
And the most funniest thing here, that it doesn’t depends from you solely. You are the one to build the road, but it’s your clients and customers to provide you with supplies for the construction.
Enough is never enough.
So instead of being worried about “how would I pay my rent”, you should be concerned of “how could I generate enough income”.
The word “enough“ is crucial here. If you are able to generate at least the amount of “enough”, then your business model is sustainable.
The formula of enough is simple:
Enough = all business related expenses + reasonable personal income.
If you manage to maintain stable flow of “enough” income, then you can consider yourself a successful entrepreneur.
Know your how.
Second important word is “how”. You cannot generate income, if you do not know how to do that.
Good news is that generating income always goes in the very same way: you exchange some value with people, which want that value and willing to pay for that. It works the same way for every business in every industry and for companies of every size.
So as an entrepreneur aiming to generate enough income, you first want to answer following questions:
1. Do you know how to produce any payable value?
2. Are there people willing to pay “enough” money for the value you produce.
As you can see, you start with your ability to create value and only then you proceed to the market to inform everybody about your value.
As you can see: being inspired, highly motivated, mind opened and comfort zone independent person have zero to no impact on your actual ability to manage sustainable business activity.
What does have impact: ability to create value and people willing to pay for this value.
Becoming an entrepreneur.
You are an employee now, meaning you do have some free time everyday. Do not waste this time onto media, football and Netflix stuff, better invest it into following activities:
1. Slowdown a bit and put your everyday distractive and reactive activities aside.
2. Think about what you know and what you can do in respect of generating value. What is your value?
3. Look around and imagine which people or businesses could naturally want that value in their activities. Who are your customers?
4. Analyse, what could be an efficient way to communicate to the people from p.3 about the value from p.2. What are your promotional channels?
5. Now focus, concentrate and start doing something. Step by step. A little. Everyday and every week.
No rush. In a while all the questions from above will get filled with practical details. You will see you reality and understand your chances of generating enough income. And your transition from employee to entrepreneur will happen in a natural manner.
What are you doing?
In the very end it is not about being able to become an entrepreneur.
We are all able, since we are all born as free entrepreneurs.
The only question is – what are you doing about that?
We designed ByCycle with the idea to help people to start something on their own.
Our goal is to increase the success rate for small and medium sized businesses.
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