HOW TO BECOME AN ENTREPRENEUR
Learn how to become an entrepreneur and start you very own successful and profitable business with award winning businessman Richard McMunn!
It is a well-known fact that more and more people are learning how to become an entrepreneur and start their own business. For some people, they are forced down this route due to redundancy or a lack of paid job opportunities. For others, it is a lifelong ambition to run a highly successful business. Within this guide and webpage, award winning businessman Richard McMunn will teach you how to become an entrepreneur and realise your full business potential.
Thinking like an entrepreneur
Take a look at the two lists below and you will notice that there is a distinct difference between how an entrepreneur thinks as opposed to someone who is not in business:
Person not in business
- I’ll continue working here because of my pension.
- The job is steady and secure.
- I only have 10 years until I retire.
- I have a high position within the organisation/company.
- I have a good company car.
- I’m glad the weekend is here.
- Is it Monday already?
- I could run a business.
- I need to make money so I can retire whenever I want.
- I want to be ﬁnancially free.
- I don’t want to stop running my business.
- I am in control of my own future and destiny.
- I own my own car.
- Is it the weekend already?
- Thank goodness it’s Monday!
- I am running a business.
The advantages of being an entrepreneur
The advantages of being an entrepreneur far outweigh the beneﬁts of a secure career with a ﬁxed salary. Don’t get me wrong, I have the utmost admiration for the person who holds down a steady job and always provides for his or her family. However, after spending a total of 17 years in a public sector organisation I became seriously frustrated.
My frustrations are not uncommon, especially if you are an employee working for an employer. Decisions seem to take an age to be made. Senior managers are more concerned with themselves, their status and their future as opposed to the beneﬁt of the organisation.
I can remember sitting for 8 hours in a meeting and not being asked a single question about how my team was performing. After 17 years of putting up with things like this I decided to take the plunge and start my own business. It is a decision I have no regrets about. I now have the power to make my own decisions, which are based solely on the beneﬁt of the company. I have no need for status or promotion and I now enjoy working. If any of the above sounds familiar then I urge you to give entrepreneurship a go!
Think laterally, not literally!
A man was driving home in his car one cold and wet winter’s evening when he suddenly realised he had a puncture in one of his tyres. He pulled over and got out of his car to investigate the problem. He decided to change the wheel and replace it with the spare tyre that he kept in the boot of his car.
He began by loosening all of the wheel nuts one by one until the wheel became loose. Then, by accident he dropped three of the wheel nuts down a drain leaving him with only two left. He stood there wondering what to do. He had no breakdown cover and it was too late to call anyone for assistance. Then, out of nowhere he had an idea! He undid one nut only from each of the remaining three wheels and used them to secure the spare wheel. Then he drove home safely at a slower speed.
It is this type of lateral thinking that will help you to see things that other people wouldn’t normally see. Develop your mind to see opportunities and you will ﬁnd success.
Motivation is the drive and desire to succeed. It is the catalyst to your success and something that should come naturally when you are running your own business. Of course 100% motivation is unsustainable all of the time, but you should naturally feel the drive and energy to become successful. If ever I have an off day or feel a little de-motivated, then I always take time out and do something different. I’ve learnt to know when I’m unlikely to perform at my best and a brisk walk for an hour always gets me back to full levels of motivation.
Keeping ﬁt and healthy will also play an important part in your success. Many successful entrepreneurs understand that a healthy body and mind is essential if they are to succeed. You will be working very hard at times and often late into the night so you will need to be at peak ﬁtness. Fitness is also a great way to take your mind off your new venture and this in turn will help you to come back to it totally refreshed an invigorated.
LEARN HOW TO BECOME AN ENTREPRENEUR 160-PAGE GUIDE
Failure in business is an opportunity!
It is inevitable that failure will cross your path somewhere along your route to success. How you view ‘failure’ or the mistakes that you make along the way is important.
It is important for a number of reasons. Firstly, within every failure or mistake there is an opportunity. You just need to learn how to identify the opportunity and turn it to your advantage.
Secondly, we wouldn’t be who we are today without learning from the mistakes we have made. Making mistakes, and more importantly learning from them, will turn us into better entrepreneurs. As soon as you make a mistake, or fail in your pursuit to achieve something signiﬁcant, ask yourself the following questions:
• ‘Where is the opportunity here?’
• ‘How can I learn from this and make it work for me?’
Most people usually get down following a mistake or failure but you must learn to adapt your thinking and mentality to turn negative situations into positive ones.
Learn to take responsibility
Remember that you are the key to your destiny. You control your future and therefore you must take responsibility for it. In order to become a successful entrepreneur you don’t have to be good at everything. You will decide which jobs you want to do yourself. I personally enjoy being creative and as a result of that would class myself as a creative entrepreneur. Somebody else takes responsibility for running the day-to-day side of the business and they are far better at that role than I am.
I understand that in order to become successful I will need to employ people who are better than me at speciﬁc jobs or tasks. Only you will know what you are good at and the jobs that you want to be involved in. Many successful entrepreneurs will employ people who are highly trained and experienced in their roles in order to help them improve their company or business. You should adopt this same principle once you have established what role you want to play in the growth of your own enterprise.
Remember to take full responsibility for the outcome of every situation and improve at every opportunity. If somebody makes a mistake, look for ways to prevent it from happening again.
Stick to what you’re good at!
When deciding what business to set up, bear in mind the following:
“You are far more likely to succeed in a business venture that you have experience
Trying to start a business in an area that you have little or no knowledge of will only cause you problems and difﬁculties. For example, if I tried to start a business making wedding cakes I know that I would struggle and come up against many difﬁculties, simply because I have no knowledge or experience in this area. Yes, I could employ someone to do it for me but I’d still be in the dark about how to develop a business in this area. My advice to anyone who is thinking of starting up their own business is to think of areas that you are either good at, or have experience in. In addition to this you are also more likely to think of business ideas that relate to a ﬁeld you have experience in.
Learn to multi-task
In the early months of your business you may ﬁnd that you have to multi-task in order to keep things going. Whilst this will inevitably be hard work, you will gain invaluable experience in a number of areas that you have probably never worked in before. Your budget or initial outlay may be low, so you won’t be able to pay for a bookkeeper until you get some money coming in. This means that you will have to look after the books in addition to developing the business. You may have to be involved in packing and distribution if your business requires attention in these areas.
When I ﬁrst started the company How2become, I literally did everything whilst still working full time during the day. My evenings and weekends were spent answering questions from potential customers, writing new guides, making contacts, copying CD-ROMs, packing the products and taking them to the post box. I multi-tasked for six months solid and I would often work until the early hours just trying to keep the business aﬂoat. Whilst it was hard work I now know that period of my life was very important in terms of creating a sustainable business. Don’t be afraid to work hard – you will be rewarded!
To your business success!
Richard McMunn – UK based entrepreneur.
HOW TO BECOME A SUCCESSFUL BUSINESS ENTREPRENEUR By Richard McMunn
Contents and benefits of this guide include:
- Over 100 pages of expert business tuition and advice;
- Written by an award winning business entrepreneur;
- Teaches you step-by-step how to become an entrepreneur;
- Demonstrates how to create business ideas;
- How to set up your business and establish it in any niche;
- Proven business strategies that WILL work;
- How to market and run your business in a profitable manner;
- No previous experience in business required.
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