“I teach kids to buy two bicycles; one to ride and one to rent,” says well-respected business philosopher Jim Rohn.
Entrepreneurialism is a natural human phenomenon and today, with job security about as secure as airline flight schedules, the only job security may be that which you create for yourself.
Why do I say that entrepreneurialism is a natural human phenomenon? Because prior to the Industrial Revolution and the Post-World-War II New Deal, individuals, for the most part, were responsible for taking care of themselves and their families. Entrepreneurialism was a lifestyle for many, not an aberration for a few.
One of the best ways to become an entrepreneur is to start your own enterprise while working for someone else. Begin part-time. And think about this: What’s wrong with multiple income streams; rather than placing all your eggs in your employer’s (or boss’s) basket? Why not diversify your channels of income? Just about everyone should consider having a business of their own, even a part time enterprise, for 3 main reasons: 1) To build a safety net, 2) to pursue other interests and passions that a full time job might not afford, and 3) to use as a tax write off.
Below are 10 principles for getting started as an independent entrepreneur:
- Identify a business opportunity that gets you excited
- Consider home-based and low overhead opportunities (A résumé writer, for instance)
- Beware of get-rich-quick schemes because 99% of them are just that… schemes
- Consider starting the enterprise with a friend, family member, or partner your like / trust
- Optimize your time management skills and work hard on your new enterprise. But don’t let your part-time business jeopardize or interfere with your main source of income
- Select 3-5 people to be on your Board of Directors; people who will advise you and help you to succeed
- As the business grows, develop a formal business plan with goals, timelines, deadlines, and financial projections
- Be prepared to overcome all adversity because, no doubt, you will face it.
- Visualize and feel success today – to ensure you manifest it tomorrow
- Revel in the experience and process of starting your own business, creating something from nothing, and enjoying the independence and freedom entrepreneurs experience