How Do I Become An Entrepreneur?

Author: Sheila Frazier

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Tags: entrepreneur , dream , business , investors

Have you been happy in your job? What about the long hours? Are you appreciated? What would it take to encourage you to take the plunge into becoming your own boss?

You've made the commitment to yourself, where do you go from here?

1) Believe in yourself and your product/service. Educate others about your product/service.

2) Build your customer base through trust and excellent customer service. I recently had my bathroom remodelled and the toilet seat that came with the toilet one of the connectors broke. I contacted the contractor, who basically said "we" broke it and he didn't guarantee it. I would think after paying $7,000 plus, he would have just put another one on it without complaining. He didn't! I had to purchase a replacement. Do you think he gave me good "customer service"? Only until the job was done, when it came to fixing something that was defective he let me down. Do you think I am going to be referring him for future jobs? Customer Service is number 1 in my business and when I am treated like this....well???? Need I say more?

3) Build your company's image through letterhead, business cards, brochures and advertising. Leave room for growth and change as you become successful. I am learning the importance of branding my business when I advertise. What is "branding" you ask? It is keeping your advertisements in unison. In otherwords, format is the same or nearly the same as is the content in each.

4) Dress for success! It makes you feel good when you look good!

5) Keep your eyes and ears open to what other businesses are doing with their advertising/promotions. You might learn a simpler way of promoting/advertising your company.

6) Changing from working for someone else to working for yourself and empowering others below you is not easy. It is most challenging but exciting in the long run. Imagine if you will the freedom of taking vacations when you want knowing that the company doesn't need you 24/7!

I've been watching Shark Tank. It's a new show where 5 millionaires make up an investors panel to hear entrepreneurs pitch them on what they have to offer. They are investing their own money in these entrepreneurs.

I find myself being very critical of some of the presentors. Some are unprepared except for their invention. Here are some of the questions they present to these entrepreneurs:

1) Have you marketed it?

2) What is the cost to purchase it?

3) What is your profit?

One of the entrepreneurs wanted "x" amount to be able to market her "Post It Note" board that attached to a laptop. She kept citing how many laptops were available for her product and she wanted to market it for $10. That was the extent of her speech. Imagine the surprise the Sharks had on their faces. Well, needless to say, she was voted out before she could even get off the ground.

Another entrepreneur was a teacher who had developed a program to help kids learn "Shakespeare" easier, gave the "Sharks" a run for their "money". They offered to buy his product for the amount he was asking with the stipulation that they would have 100% control and he would get 5% of the profits. After some negotiations with the "Sharks", he decided on the first offer. Good move on his part.

I noticed several aspiring entrepreneurs come in unprepared and others with blinders to what they were being offered by the millionaires. Sure, we don't want to give up what we have worked so hard to build, but if in the long run letting go of it means success, then go for it!

It has been a real eye opener for me as a business owner to see how these Sharks work. So what, you say? What difference has it made in your perspective as a business owner?

A lot! My eyes have been opened to the importance of being prepared when I am ready to bring investors on board for my business. It has shown me the importance of having everything ready to present to my potential investors.

And, finally, always, leave room for growth in your business and in yourself professionally. Don't be afraid to partner up with others along the way. You will be glad in the long run that you did!

Dream...........Plan..................Execute and Soar! Thank you Patrick Snow for those words!

Remember to set goals for yourself and your business. When you reach one ... mark it off and write down one in its place.

Being in business for yourself is both rewarding and exciting. Go ahead .... Dare to believe in yourself.

Thank you for the opportunity to share with you some of my thoughts.

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How Do I Become An Entrepreneur?