An Entrepreneur in a Nutshell

Note: This is not a “Hey you should be a business-owner or else you’re a loser” post. Just reading through and finding a lot of themes I thought would make a fine post for those of you who think you might like to become an entrepreneur.

WHO IS AN ENTREPRENEUR?

Entrepreneurs are so diverse, it always makes me giggle when people think that to be an entrepreneur you have to be in business.

Artists are also entrepreneurs and small business-owners. So are a lot of performers, brokers, auctioneers, jewellery-makers, and real estate agents.

Not all small business owners own shops either, and aย lot of us sell our skills (brains) with very little overhead.

WHAT ENTREPRENEURS HAVE IN COMMON

It is a mix of some, or all of the following, but they usually have a pick or two from each ‘category’:

CAPITAL

  • Money/Financial Backing
  • Knowledge of the industry
  • Experience of the industry
  • General intelligence/smarts (although you don’t have to be a genius)
  • Contacts/Great Network to pull from

SKILLS

  • Great salesperson
  • Charming/Easygoing personality that makes you feel at ease
  • Creative skills (they say music, mathematics and design aren’t to be discounted)
  • Technical skills of their actual job (comes from experience)
  • Ability to organize and create a schedule that matches their plan

ENVIRONMENT

  • Was able to do the job entirely on their own (not reliant on a large corporation or resources)
  • Industry was open to freelancing (not all industries can be translated)
  • Was able to create their own niche in the industry if it never existed before
  • Some catalyst pushed them into it: divorce, tragedy, was fired, saw the opportunity
  • Luck just happened to touch them & they seized the chance

PERSONALITY

  • Love for their job
  • Passion for their industry/line of business
  • Disciplined — in every aspect of their life, including health
  • Hard worker — willing to do what it takes
  • Tenacity — able to take rejection/criticism & bounce back
  • Risk-taker — even if involuntarily pushed into it
  • Believes in themselves, even though they aren’t “smart”
  • Treats what they do like a 9-5 job, even if it’s “creative” like being a singer or artisan
  • Realistic — knows it doesn’t happen overnight; anything worth doing will take 10,000 hours to master

That’s it.

That’s what all entrepreneurs seem to have in common.

It isn’t a magic formula, and sometimes you have to be dragged kicking and screaming to make it happen, and afterwards you think: Oh. That wasn’t so bad.

Sometime it is just sheer luck, but a lot of people (including myself) believe that you can grow your luck just by looking out for opportunities and making them happen.

You cannot cultivate or grow your luck if you sit on your butt all day and do nothing, becauseย if everyone could be lucky like that, we’d all be couch potatoes.

Taking action, any action is the first of many steps.

About the Author

Just a girl trying to find a balance between being a Shopaholic and a Saver. I cleared $60,000 in 18 months earning $65,000 gross/year. Now I am self-employed, and you can read more about my story here, or visit my other blog: The Everyday Minimalist.