We hear the word entrepreneur or entrepreneurship bounced around a lot these days, thanks to some self-made millionaires who swear they came from nothing. A pure rags to riches story. While there is no denying that these stories are true, there seems to have been an increase in people describing themselves as an entrepreneur. But are they really? Is there this perception that an entrepreneur has it all? The lifestyle, the successful business and all the perks that run with it? Or are there some untold truths that would actually categorize the true entrepreneurs that are destined for success and the ones that will fail at the first hurdle? I want to explore exactly what it takes to be an entrepreneur and tackle some of the untold truths of entrepreneurship. We may have more of these types of business people around these days, perhaps myself included, but the ones who truly shine are the ones that understand the role entirely.
Do you need to have a niche?
There is this obsession among some entrepreneurs today that they need to be niche, unique or have some USP that enables them to outsmart or outshine their counterparts. But do you really need to have a niche to make it big as an entrepreneur or in business? The truth is, if you have the passion for succeeding, the idea that you can turn into reality, and you offer a service or product that a customer wants, then you are halfway there to success. A USP is important within your business frame, but not for you as an individual.
The reality of funding
The topic of funding or the financial element of a business can be one of those hush-hush topics. However, there is a strong reality that funding is a huge part of any successful business launch. Whether that comes from specialist business lenders like Swift Financial or from your own savings or personal investors you have approached, the topic is the same. A business needs funding, and as an entrepreneur, it is down to you to secure it.
Can you be too old?
Is there any validity in age these days? Who is to say that you can’t start and run what can be a successful business from as early as your teen years right through to when you have retired from esteemed career elsewhere. There is this perception that entrepreneurs are young and fresh-faced, but I believe that age is simply a number.
Do overnight successes truly exist?
We hear the stories about overnight successes but is there any truth to them? The actual wording should deter you from believing this entirely. An overnight success isn’t exactly possible. From start to launch within 24 hours. However, an overnight success can be deemed as someone who started from nothing and established a successful business within their first year of trading. However, no matter how long it takes, it requires work and dedication to make it happen. With a whole heap of passion thrown in.
Is it all in the idea or is there more to it?
Many entrepreneurs believe that the power of success is in the idea. But I believe there is a little more to it than that. Sure, an idea is extremely important to any business start-up. It is the very foundation it is built upon. But, an idea takes execution, vision and ambition to turn it from that light bulb moment into something physical.
Can you really work your own hours?
This is something I think many of us have heard before from someone. Being an entrepreneur enables you to “work your own hours to suit your life,” wouldn’t that be the ideal scenario? But what we have highlighted throughout this article is that taking an idea and turning it into a business takes a lot of time and effort, which generally means that your own hours translates into every spare hour you have. Of course, once everything is up and running and your business is successful, you have the privilege of picking and choosing your hours. But if you want to make something a success, then you are bound to dedicate as much time as possible to it.
You can make it on your own
There is no hiding from the fact that many entrepreneurs are successful in their own right. Starting something from nothing and often turning them into big brands or corporations. However, while you can make it on your own, I guarantee that in many cases there is some support network lurking in the background. It might be a devoted wife or husband, a family helping you to reach your dreams, a business partner, or once established, staff, running the front line of your vision. Of course, you can make it on your own, but there may always be someone who is cheering you on from the sideline.
