I want to believe I have done enough justice to opening your mind to who an entrepreneur is, what every entrepreneur should know, what business really is and what every entrepreneur should expect to tackle.
As you plan to build your business, it is important that your purpose is the underlined foundation or bedrock of those plans. You are most likely to find success if your business goals align with your core values.
That is why this post is the longest I have ever written. it is one that will easily help you discover the core values in knowing the right business only you will be able to do as an entrepreneur.
I am assuming you are stuck and unsure of where to start with a new business or where to take a struggling one. This post won’t give you a plan but it will help you clarify the priorities that will mold that plan.
I have to let you know some of this may seem too deep, I mean personal. You may even ask yourself how it has to do with becoming an entrepreneur. But ultimately, all of this is important and connected to starting a business.
You need to find a path to trend along and this path as to be permanent and sustaining. Some thing that allows you to tap into your passions, leverage your strengths. avoid what you dislike, and provide lifelong fulfillment.
At this point, it is time to get honest with yourself. Get a pen and a note. Find a quiet place. Set aside some time and let’s go because it is gonna be a long ride.
You aren’t perfect but you have strengths. Those things that come easily for you. Some of these things could be things that literally will never lead to a business.
But it is very important you brainstorm this in whatever writing pad you have in front of you right now to exhaust all the possible things you possess that could start a business.
Try not to spend much time on this. Attempt to create a list of 5 -10 primary strengths.
To help you get a glimpse of what you should start thinking to write, I will try a few I know of…
- Problem solving
- Surfing the net
If it is easy for you to list, 10 or more strengths is not bad. Go for it!
Make sure you are kind to yourself here because this question might help you to know where your business shouldn’t be set up.
The truth here is you won’t be good at anything without experience. This list might be long but don’t allow it to be longer than your list of strengths.
Mostly, these should be things you struggle with daily or regularly. They could be things you are working on right now or maybe things that are a lost cause.
Here are few that will help you started…
- Public speaking
- Verbal expression
- Completing tasks
- Fear of Crowd
You don’t need to obsess over each weakness by providing details oh. Just highlight what comes to your mind. I believe you know what i mean. Good.
Now focus on assembling a complete list.
Acquired Skills or Knowledge
This could be related to your primary strengths but it doesn’t need to be. They could be skills or knowledge you have acquired by yourself or by an external force
I want you to be focused more on subject matter here. What types of useful and useless information clutters your brain?
My sister for instance know a lot about growing natural hair. A friend of mine knows a lot about interior decoration. Another is good with media.
To add to the ones listed…
- – Marketing
- – Music
- – Sports
- – Technology
- – Programming
- – Fashion designing
- – Baking
- – Make up
- – Researching
These are things that interest you. These people come to you when they need information about or they know you are an expert in that area.
Inherited Skills or Knowledge
What skill or knowledge has been passed on to you by your entrepreneur parents? Grandparents?
Is it something about health? What about event planning like my younger sister from my mum? Is your mum a counselor and you also happen to be a good counselor?
I know of a lady who her mum passed unto her weight loss secrets from the old days using herbs. She now runs a great wellness consulting business based on these secrets.
Many old people pass on kinds of information to their children and grandchildren.
If you are lucky to have learnt one or two things from your entrepreneur parents, make sure you pen it down now if it align to your purpose.
Not everybody went to the university to study what they never wanted like me. You may be lucky to have studied your dream course.
If you studied Medicine and surgery, then you have a lot of opportunities to become an entrepreneur. If it is computer science, good for you.
You are lucky if you love what you studied and it could be your best path to follow in becoming an entrepreneur, So please don’t dull it.
Write it down now making sure it is in line with your purpose.
You may have a crossover here between what you are knowledgeable about, what you are good at and what you love to do. These could also be business related but not a most they need to be. Few examples..
- Love watching football
- Watching movies
- Playing video games
- Going to church
Yes…. Sleeping and eating can also be included.
Your hobbies are different from what you like to do. Hobbies are of higher priority so take a step back.
The things you love to do are the priority activities in your life so let’s go down a level. Here are few examples..
- Solving problems
- Listening to music
- Catching fun with friends
What responsibilities drives you away? Any situations you find yourself frequently or regularly that keep you at bay? What makes you feel least comfortable?
Here are few to start with…
- Paper works
- Putting in order a chaotic state
- Customer care
- Cold calling
Put in mind these things are things you might hire someone to do for you later in future when your business is up-running. You won’t want to cause bad market for your business.
Do you think you have worked somewhere before and has developed your work ethics?
Do you think you can start a business in line with your work experiences?
I have a friend who has falling in love with the Media after getting employed in a Media firm. You could also have falling in love with something else. Note it now.
You need to be aware of this. It is important You have to understand you have some undeserved advantages.
It doesn’t mean you are lazy or didn’t work hard. This doesn’t mean you don’t earn what you get.
It only means that you have certain advantages at the moment that not everyone has. Here are a few that can get you started..
- Wealthy family
- Supportive parents
- Social status
Talking about inequitable advantages, I am not the luckiest. I can only boost about a few.
These are not in anyway hindrances to you becoming an entrepreneur. You just have to know them so you can take advantage of them.
Assets are the things or people around you that may be of help as you start this entrepreneurship journey. they could be….
- Mobile phone
- Personal laptop
- Car, bike, bicycle
- House even if you still stay with your parents
- Your husband or wife (fiancé or fiancée you have one)
- A Supportive personality
- Money in the bank
- A mentor
These assets should give you an upward boost.
What do you find very important to you? Things that matter most to you.
I know you will start getting more personal now but don’t skip ahead. These things are very important.
You will need to go on this path that allows you to embrace what you value.
In answering this question, they could be things, people, personality traits or anything that matters to you. They could be…
- Spending time with Family
- Freedom of time
- Work (if you are employed)
- Religious activities
Habits you despise
Ultimately in business, it is important to know the things that turns you off.
You have to have a clear knowledge about the things that repel you. Your direction needs to be steer clear of these things.
It is important. For me, I stay away from…
- I too sabi (‘I know too much’ syndrome)
- Extravagant spending
Knowing what you don’t want to be is as important as knowing what you want to be.
People you want to help
Now we start approaching business-related possibilities. Based on your knowledge, your hobbies, what you love doing, who do you think can benefit from your experiences?
Could it be….
- Market men and women
- Small business owners
- Car owners
- Job Seekers
- Graphics designers
You don’t need a business idea in mind for any of these. Just recognize what groups of people you can be of help to.
Problems you can solve for them
Having gotten a list of people you think you can help, you now have to put yourself in their shoes and think about the problems they could be facing and the questions they may be asking.
Let’s say you want to help students, you can solve their related problems by…
- Assisting to gain admission into higher institutions
- Acquiring scholarships
- Helping them in time management.
Source(s) of Happiness
Though, these may not be directly business related. But you have to understand that, Whatever you do in business, it must allow you the ability to experience these things that make you happy. If it doesn’t, then it is not worth doing. As for me, these are a few of mine…
- Making impact on people
- Religious activities
- Comedy or what will make me laugh
- Having time with my friends
- Solving problems
- Making money (I won’t forget that. Lol)
- Going on personal excursions and tours
Your Strong WHY
As you already know, there are thousands of ways to make money. You can be a speaker or a butcher, a web or graphic designer, a phone seller or a furniture maker, a caterer or a make up artist, a fashion designer or a shoe maker. There are trailer loads of “How Tos”.
How to make money is not the problem. Don’t focus too much on that. You need to focus on the “Strong why”.
Why do you want to build a business? Hopefully, it is not one of the reasons I shared above. It could be your family. You may have made a decision to be rich to help orphans, to help the disabled orto impact lives. What you know motivates you every single day of your life.
You are the only one that can find out your why. Until you find a strong why, I don’t think you need to become a entrepreneur.
You need to know your WHY so you have something to pump in passion when your journey seems to be tough.
The truth is when you reach the peak of your career, you will want to flex your life a little. But this is not the point.
In knowing the lifestyle you desire, it will make you to think towards the expansion of your business later as you progress in it.
You need to visualize what it looks like, what it allows you to do, what type of life you will like to lead.
Here are mine and please don’t laugh because it is not funny. You hear me?
Some day starting from my honeymoon, I wanna travel the world with my newly wedded wife then…
- Travel the world with my family
- Have a flexible time and schedule
- Financial fulfillment and freedom
- Take care of my parents (if possible, do all what they wish their son could possibly and humanly do for them)
- Impact as many lives as possible, drawing them closer to God
- Be a philanthropist in the best way I can
This is your goal. It is bit different from your “why” because this pleases your fleshy desires.
Remember that whatever you will be doing, it is to reach the lifestyle that makes you happy.
Importance of Money
Now, I know you may want to be humble. Please don’t be too humble even if you will. This question is important. Don’t give an ingratiating answer.
Just be honest with yourself because your answer needs to be consistent with your purpose.
If you want money so badly and your goal is to be a philanthropist, then you must be putting yourself as a bet in a Las Vegas casino.
Where on this scale do you find yourself?
- Not important
- Little Importance
- Very important
- Primary aim
For me, money is just important. I just like having nice stuffs even though I am not an extravagant person. I only love to have what I need, not necessarily what I want.
As an aspiring entrepreneur, money should never be the reason you chose to be one.
Entrepreneurship is not money ritual or a get rich quick scheme. It is not ponzi scheme or yahoo plus.
Entrepreneurship is building. It takes time to be successful at it.
So if money is extremely important for you to make, I will advise you to get a job that pays at least 6 figures and erase the thought of becoming an entrepreneur.
Importance of Fame
This is almost same as the above but slightly different. Just a few of the world’s entrepreneurs are famous so you shouldn’t thrive for fame.
If you want fame, you have to understand you have a lot of work to do. You will have to compete hard with a lot of entrepreneurs and this may shift focus away from your initial purpose.
Just make sure your answer is consistent with your purpose.
Where on this scale do you find yourself?
- Not important
- Little Importance
- Very important
- Extremely important
For me, fame is of no importance. I have no desire to be famous.
If in future I become famous, it shouldn’t be that I crave for it. Rather it should be something that comes in because of me being relevant in my field.
I don’t want to be on your TV screen or trending on social media. I love my privacy.
It could be the opposite of what I do now. Maybe you are thinking I have a brand in my name and I don’t hide behind a logo.
But as business grows, I will need to make a decision if growth will be shifted to fame.
But in your own case, fame may be your utmost desire. If it is, be honest with yourself about this early because being public will need to be a priority.
You might want to become a public speaker to gear up your business.
I believe I have been able to brainstorm with you on finding your purpose as you decide to becoming an entrepreneur.
Now streamline your list into one purpose you think you might start as a business. Remember this is not yet a plan, we have only been successful in making sure we find that thing that is for you and only you.
If you are yet to find one, don’t get frazzled out. Go through it again and I assure you it isn’t that hard.
In my next post, I will continue on the purpose you have found and help you arrive at that very thing you will start working on as you start your journey as an entrepreneur.
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