Freedom of entrepreneurship
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Moving from being an employee to becoming an entrepreneur is a challenging journey.
In this article, we’ll delve into the fundamental challenges of initiating any business.
Your natural right.
If you would take legislation of your country, then the general rule normally would be as follows: if you want to become a private entrepreneur, you have to register yourself as one first.
In other words, society and government consider your natural status rather as an employee, than as an 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.
Financial independence.
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 the 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?
Arriving train.
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:
E = Be + Pi
E – Enough
Be – all business related expenses
Pi – reasonable personal income
If you manage to maintain stable flow of “enough” income, then you can consider yourself as a successful entrepreneur.
Know your how.
Second important word is “how”. You cannot generate an 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.
Start already.
In other words: 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 answered with practical details. You will see your 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. It is a natural skill hardwired into our genes.
The only question is – what are you doing about that?
ByCycle
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. Our goal is to help students to start something on their own after graduation, rather than seek for a job.
Give ByCycle a try, and see how it works for you.
NB! Use browser version for registration. Mobile version is under development.
