This is the third part of a series on entrepreneurship that is running through this month each Wednesday. I’m glad that you are joining us, I hope that you will participate in the conversation in the comments!
In the past two weeks we discussed two topics: So You Want to Be an Entrepreneur and How to Begin an Entrepreneurial Journey. We’ve had some great discussions so far!
I really appreciated what you all had to share and to add to the discussion! Most of you agreed that mindset and continual education are both essential for the foundation of being an entrepreneur. Quite a few mentioned that lacking in those areas are what cause the majority of entrepreneurs to fail in business.
Marcus Baker brought up the point that one of the biggest barriers to business owners is that they hold onto the employee mindset. What an excellent point because most of us have been an employee at one time or another so we know being a good employee involves a mindset to please the superiors, follow a job description, etc. That mindset is not going to work for an entrepreneur who needs to make decisions that will directly affect his or her income. An employee gets paid the same wage or salary regardless of the output, an entrepreneur will not.
There were a couple of other points that seemed to stand out as several of you mentioned them as well. The first is that we need to expect obstacles because it’s a matter of if and not when they come. The other is to look at mistakes as bringing us one step closer to what works and not falling into the failure mentality. I ran into my own obstacles last week and if you are interested in reading about how I dealt with them, read Fight the Resistance.
Onto the next step of entrepreneurship! (Though don’t ever expect to be done with mindset and personal education – those are both things that you will need to work on continually!)
Once you have begun to lay the foundation of your entrepreneurial journey…
You are ready to start looking into what type of business you want for yourself.
This is key because you need to find something that works for you on a variety of levels:
- It needs to have the potential to meet your income goals
- You need to be passionate about it
- It needs to fit into your “why”
- You should have some knowledge about it or at least the eagerness to learn
- It should fit with your natural talents and abilities
- You should be able to envision yourself accomplishing many goals through it
There are many, many options as to which direction you can go – but only you know yourself and the answers to the above points. Whatever you do, don’t let anyone else tell you what you have to do or what you can’t do.
Don’t limit yourself!
Everyone has their own ideas of what will work for you, but they are not you. You are you and you know what you love, you know what you are good at, you know what gets you up in the morning.
Other people may have their own motives for telling you what you should do, many times they will benefit financially or personally if you join them. If someone is pressuring you to join them that is a clue that you shouldn’t. Do you really want to work with someone who is pressuring you? Joe the Guru just wants your money, Sally your sister-in-law wants your companionship.
What do you want??
Perhaps you want to create something yourself. Many people choose this route and do very well at it. The important thing is to educate yourself. Find out what is needed to really make a living at what you are looking at – the cost versus income. Also the time involved because we all know that time is money!
If you have physical products that you want to create and sell such as jewelry or clothing you can purchase an online store through companies such as ebay and etsy. Ebay even offers classes on how to become a top seller, you can purchase books on the topic. I’m sure that you can easily find information about selling on etsy as well.
You can also use a blog to promote your items, I write about how to effectively blog in order to reach the right audience. You can download my free ebook Blogging Basics (see freebies tab) or you can go to my Blogging Tips tab to find relevant posts here on my blog. Also I am working on a more in depth book on the topic which will be available for purchase pretty soon.
When you blog another way that you can make money is to sell affiliate products, that is where you find products that others have already created and you promote. When someone purchases those products you receive a commission! A word to the wise, only promote items that you personally use and believe in! You don’t want to accidentally promote something that turns out to be junk and lose the trust of your readers and followers!
If you like writing or have knowledge to share then you could write books to sell as PDF, a kindle book, or even a physical book. Amazon makes it pretty easy for regular people with limited funds to create books! As a test I turned one of my PDF books into a kindle book, it was really easy! I will save the how-to for another post outside of this series!
There are many other ways to become an entrepreneur, your imagination and passion to succeed will be your limit! We will discuss more next week!
It’s your turn! I would love to hear your thoughts and questions! Please share in the comments and if you found this post valuable please, tweet, share and vote! Thank you!
To Your Success,
Thank you for reading! I'm Stacy, the owner of this blog. You can learn more about me here.
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Hi Stacy,
My first visit to your blog – love the design! I have to tell you I am so impressed with your emphasis on the role of “why” in this process. Having spent nearly a decade in direct sales I worked with hundreds and hundreds entrepreneurs, and it became clear very early on that those who had a clear sense of their “why” for being in business had a far greater chance of succeeding. Look forward to reading more!
marty herald invites you to read… Put an End to Emotional Tug-of-War
[Reply]
Stacy Reply:
June 15th, 2011 at 3:23 pm
Hi Marty,
Thank you and welcome! I have found that knowing the why is one of the critical elements to succeeding, otherwise it is far too easy to get overwhelmed and tempted to quit. They why is what keeps us pushing through the obstacles and resistance!
Stacy
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Thank you for this post, Stacy. Eventually, I’d like to offer products and perhaps even an ebook on my site; thus the push for migrating to WP. Will you be addressing how folks can do this as a part-time endeavor? Many homeschooling mothers begin home-based businesses. I don’t expect my site to support the entire household but it’d be lovely if I earned enough to purchase school curriculum, related trips, and reinvest in the business by purchasing software, advertising, etc.
Thanks again for all of the wonderful information!
Carrie
[Reply]
Stacy Reply:
June 15th, 2011 at 3:19 pm
Hi Carrie,
I certainly can address address the topic of part time entrepreneurship! This is going to end up being longer than a one month series – I love it! All of the questions and ideas that I’ve been receiving!
I am looking to move from my home preschool to other entrepreneurial endeavors so that I can educate my kids at home, so I am in the same boat as you. I am looking to replace my income and be able to create the biggest and best homeschooling experience possible and make my business as successful as possible too.
Thanks for asking!
Stacy
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Hi Stacy!
You are doing a great job with this Entrepreneur series!
Entering the world of entrepreneurship is so limitless that you could practically do anything! I agree with you that we should pare it down to what we can really do and we could always seek expert/professional help to make it better.
For an online entrepreneur wannabe, all resources and materials are available online so this learning part is easy!
Anyway, I’m so excited to hear more about your how-to post in turning your PDF book to Kindle.
Thanks for sharing your inspiring insights to being an entrepreneur!
Elmar Sandyck invites you to read… Are We Ready For the Zettabyte?
[Reply]
Stacy Reply:
June 15th, 2011 at 5:26 pm
Hi Elmar,
Thank you very much! I will be sure to write that post on how to turn the PDF into a kindle book. It was a little tricky to figure out but it was easier than I thought and I have a book for sale on Amazon! I can’t wait to get a bigger book on there!
Stacy
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Hi Stacy,
OUTSTANDING!!! What an incredibly thorough series you’ve written on entrepreneurship and thank you for introducing me to idea of a Kindle book, as well as to your online classroom:) Quite an inspiration you are. This student will be back to read more soon!
A. Leigh Edwards invites you to read… 3 Little Known Metaphysical Techniques To Help You Get Your Bills Paid
[Reply]
Stacy Reply:
June 15th, 2011 at 6:01 pm
Hi Leigh,
Welcome to my blog – and thank you very much! I look forward to seeing you here again!
Stacy
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Hi Stacy,
Marcus’s insight and your post underscore the importance of changing your mindset.
We don’t grow up being the boss. We take orders from our parents, people around us, society at large. Making the shift to calling the shots can be uncomfortable, but it’s also freeing. It helps you take 100% responsibility for all things happening in your life, causing you to make more focused decisions to bring desired results.
Thanks for sharing!
Ryan
Ryan Biddulph invites you to read… How a TV Commercial Taught Me Internet Marketing Persistence
[Reply]
Stacy Reply:
June 17th, 2011 at 2:45 pm
Hi Ryan,
It is indeed a shift to move from the mindset of taking orders. Great point about it helping us to take responsibility.
Thank you for sharing!
Stacy
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Hi Stacy!
Great post. You hit the nail on the head with following your passion. I know what it is like joining things I was not passionate about just to make someone else happy. Not a good idea! I am doing the same with books, going to be making them available as pdf’s and also at Kindle.
There is nothing like following your passion and swatting away the distracting flies that want to pull you away from it.
Bless,
Joe
Joe Young invites you to read… Game 7 Stanley Cup Finals 2011, Only One Brand Will Win!
[Reply]
Stacy Reply:
June 17th, 2011 at 3:03 pm
Hi Joe,
Thank you! I have learned from life that when we don’t follow our passions that it just doesn’t work and frustration is the end result.
Thank you for sharing!
Stacy
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Great series you have going this month Stacy. I can SO relate to what Marcus said. I think when I first started this journey I was stuck in that mindset. It’s hard when that’s all you’ve known the majority of your life.
I love how you mapped out exactly what we all need to consider when heading down this road. I believe once you have all those things in place, the rest will also fall into place. At least they have for me.
Thanks again for this post and I missed the second one so will go back and read that one for sure. Look forward to what else you’ll be sharing with us throughout the rest of this month.
Adrienne
Adrienne invites you to read… How To Build A Blogging Community
[Reply]
Stacy Reply:
June 17th, 2011 at 3:04 pm
Hi Adrienne,
Thank you so much for your comment! With all of the great feedback and questions that I’ve been receiving this may end up a 2 month series or a summer series!
Stacy
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HI Stacy, once again you have posted lots of encouraging ideas for people who wish to become an entrepreneur. There are so many ways to make it happen and as you say, there are always obstacles, there are never any obstacles that people cannot overcome.
it really does boil down to mindset and creativity. I love the Amazon Kindle idea. I have just sent my final draft back for my success series and plan to market it on Amazon.
What the heck, it is a service that is available to all of us. Great points you make Stacy. Now I am off to read your ‘resistance’ post!
Jayne
Jayne Kopp invites you to read… Missed the Boat on Starting an Online Business?
[Reply]
Stacy Reply:
June 17th, 2011 at 3:05 pm
Hi Jayne,
Thank you so much! I would love to hear about your marketing on Amazon as well!
Stacy
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Great stuff Stacy,
That employee mindset is so important to shake!
I like the idea, of creating your own stuff, if possible. Though I am a firm supporter and trainer of network marketing, the products and services still belong to someone else.
When you, as an entrepreneur create your own products, then you are in a position to leverage the income of those products to their fullest potential. I love it!
Will there be another post to this series?
Martin Dale
[Reply]
Stacy Reply:
June 17th, 2011 at 3:10 pm
Hi Martin,
(You remind me of someone I know named Dale and I keep wanting to call you Dale instead of Martin especially with it being your last name!) Don’t tell anyone, but you’ve figured out the topic of my next post in the series! Originally this was going to be a series for the month of June but I’ve received so many great questions and ideas that it may go through the summer!
Stacy
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Simple and to the point. The best way possible. Thanks for sharing
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Stacy Reply:
June 17th, 2011 at 3:12 pm
Thank you, Daniel.
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Hey Stacy,
Love the post!
I have always believed that as many people as can be can be entrepreneurs. Was reading a Robert Kiyosaki book the other day and he said that being an employee was a learned skill, same with an entrepreneur.
He even went on to say that the concept of ‘employee’ started in the industrial age,. Before then people were entrepreneurs with activities in self-employment like farmers, blacksmith, shoemaking etc.
Bottom line, anyone CAN be an entrepereneur!
I also like the WHY part. It is absolutely necessary.
Cheers!
~Tosin
Tosin | Home-based Business Coach invites you to read… Facebook Traffic: How to Generate Tremendous Traffic from Facebook
[Reply]
Stacy Reply:
June 17th, 2011 at 3:15 pm
Hi Tosin,
Thank you very much! I find it interesting how much the industrial age changed society and what is considered normal. The whole idea of formal education came from that era in order to teach people how to be good, obedient workers who think inside the box.
Thank you for sharing your thoughts!
Stacy
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Hi Stacy,
love your series about entrepreneurship. Most people mention the words “entrepreneur” and “self-employed” in one breath. The differences between the two couln’t be greater.
Marcus is right that we have to overcome our employee mindset. However, most people who aren’t aware of these differences usually run into the trap of self-employment. The question is: What happens if you walk away from your business – do you still get paid ? An entrepreneur will get paid whether they work or not, a self-employed person won’t.
Thanks for sharing your insights.
Take care
Oliver
Oliver Tausend invites you to read… The Goose That Laid The Golden Eggs Pt. 2
[Reply]
Stacy Reply:
June 17th, 2011 at 3:21 pm
Hi Oliver,
You make a very important distinction! I used to consider entrepreneur and self employed the same thing but then as I discovered through running my home preschool that there is indeed a significant difference.
Thank you!
Stacy
[Reply]
You Can Be An Entrepreneur « Grow With Stacy…
Anyone can be an entrepreneur with the right mindset, proper self education and other crucial ingredients. Do you know what it takes?…
Entrepreneurship holds a great scope. We can’t really say how far we can go. But, as a starter, we really need to have guidance or tips from experts in the field. And, this article is definitely one way of making us educated. I can’t wait to see the next article you’ll publish.
Adrian@Sheds invites you to read… The Quality of Amish Sheds
[Reply]
Stacy Reply:
June 20th, 2011 at 9:55 am
Thank you, Adrian!
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Hi Stacy,
These are all factors an entrepreneur must take into account when deciding the direction the business will take. I think if the person has limited time or funds, the focus is extremely important, lack of focus will waste much time and effort. If the entrepreneur is full time and can spend money outsourcing, then I think the business can take more than one direction. Either way should be effective.
Lou
Lou Barba@informationhighwaycardandgiftshop invites you to read… Disclaimer (SendOutCards)
[Reply]
Stacy Reply:
June 20th, 2011 at 10:01 am
Hi Lou,
Those are great points, thank you for sharing!
Stacy
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Stacy,
Your thoughts on everyone else having an opinion on what you should do resonated with me. You commented on a post of mine that ran a similar train of thought.
“They” aren’t “us.” We have to find what aligns with us and allows us to operate in an authentic way. Thanks for reinforcing this concept!
[Reply]
Stacy Reply:
June 21st, 2011 at 1:07 pm
Hi Jon,
I used to worry a lot about what others thought, to the point that it was quite paralyzing. I’m glad that point helped!
Thanks for your comment!
Stacy
[Reply]
It should be noted that all people are different and unique. So, that means that everyone can have his own creative business idea and realize it in practice successfully. Everyone can be a successful entrepreneur. The main task is to believe in success and find the right way to achieve good results in business.
Terje Sannarnes invites you to read… How Personal Development Can Help an Entrepreneur Start a Business
[Reply]
Stacy Reply:
June 28th, 2011 at 9:16 pm
Terje,
We are all unique and have different qualities to bring to the table to offer the world! We have to discover what our own uniqunesses are!
Stacy
[Reply]
Whenever a person tries to open up a business, everyone around him try to make him abandon the idea. The very same thing happened to me, friends and family told me i won’t be able to make it, that i don’t have what it takes.
But i took it in my own hands and proved them wrong. If we can’t do at least this, i doubt that we can be successful businessmen.
Martin@CDL Practice Test invites you to read… CDL Classes – How to Become a Professional Truck Driver
[Reply]
Every one of us has potentials. We may be just afraid to take the risks. But in my own point of view, it is always better to invest your money and become an entrepreneur that to just spend it to something you want.
Antonia@Conversational hypnosis invites you to read… The Most Common Hypnotic Trance Signals
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I love that beautiful smile on your face…
anyway….being entrepreneur is an inborn thing,,when you are born as one, you will be one…opportunity will find you and you have got to be there when it knocks on your door
[Reply]
Stacy Reply:
July 19th, 2011 at 4:07 pm
Thank you very much! Yes looking for the opportunities is a very important step!
[Reply]
Hi Stacy,
It is another nice post,I really like the idea you share.and i do agree also with antonia that on he said “it is always better to invest your money and become an entrepreneur that to just spend it to something you want.”
Dane invites you to read… MLSP
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Everyone can be an entrepreneur, they just don’t know it yet. People limit themselves every day, making most decisions out of fear for the future. They’re afraid to risk it on starting a business on their own. But if you don’t take risk there’s no way you’ll ever succeed.
Amit@Forklift Training invites you to read… How to Become a Certified Forklift Trainer
[Reply]
I agree with you Stacy that healthy mindset and essential education is a good foundation to become entrepreneur, I’m trying to have that attitude so that I will become a good entrepreneur.
Audrey Bennett invites you to read… Bank Repossessed Cars
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Stacy Reply:
September 24th, 2011 at 7:25 pm
It sounds like you are well on your way!
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I had got a desire to begin my own company, nevertheless I didn’t have enough of cash to do it. Thank heaven my mate told to take the credit loans. Thence I used the small business loan and realized my old dream.
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I’m not an entrepreneur actually, I’m working now in a certain company, I find myself working in this company happy but then if I’m going to become entrepreneur this post from you, it would be useful to me. Thank you so much Stacy for this great info!
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[Reply]
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