Here is an informative short article by Mark Gurley, the CEO and co-founder of Rebounderz Franchise and Development. This article from the Atlanta Business Chronicle offers veterans some key points to consider when contemplating the entrepreneur path.
Gurley writes ---- Some people think that being an entrepreneur is easy because you get to be your own boss and make your own schedule.
Sometimes it is, especially when you have a passion for your work and business.
But most of the time, being an entrepreneur and business owner is easier said than done.
The entrepreneurial journey takes persistence and patience — and it often takes a lot more than someone who hasn’t taken it can imagine.
Here are my top seven things every entrepreneur needs to consider before taking the leap into business ownership.
1. It requires 10 times more work than you think.
For whatever reason, it’s always harder than you imagine. I love the quote attributed to Thomas Jefferson, “The harder I work, the luckier I get.” Like raising children, being an entrepreneur is hard work and perhaps the most demanding and rewarding job you’ve ever had. In addition, the job is never really done. There’s always more work to do, and there’s always another phase in the life of your business — and your child.
2. You must be persistent.
It is okay to fail. You learn more from failure. Experiencing failure allows you to make adjustments and improve. Being determined and knowing how to fail forward — or move forward in a positive way — helps to make these failures okay.
3. It helps to tune out the negativity.
You find out that everyone has an opinion, and the more successful you are, the more people will criticize you. Develop a support system that encourages you to push yourself and encourages your ideas and your journey. You need people in your corner to silence the naysayers and the negativity.
4. You must have the ability to focus on the big picture, while still focusing on the details.
For many companies, the details matter the most in becoming successful. For example, ensuring you have clean bathrooms in your office is a small detail that can make a huge impact and will allow you to focus on the bigger picture — getting customers back in the business.
5. You need to know how to delegate.
Creating a team that can assist you in moving tasks forward and getting projects completed is important. This allows you to focus on the bigger picture items. I’m known as the visionary, while my co-founder handles operations and processes. To increase our success, I need to focus on what I do best and delegate the rest.
6. It requires knowing when to stop working in the business and start working on the business.
Learning to delegate is a critical step in this process. Once you can do that, you can then confidently focus on reaching your goals and dreams for your business.
7. You should lead by example and lead from the front.
I believe in leading from the front. While my team is working on the here and now, I’m actively working several months ahead of them and several months ahead of our company. Because I can anticipate what’s next, I’m forging ahead and making advance preparations. My team is never waiting for me to do my job. Instead, I’m anticipating future needs, providing the resources and moving quickly to pave the way for my team to be successful.
Every entrepreneur’s journey is a little different and yet we all have the same goal: to create a successful business and business model that can sustain growth and provide jobs to the American people. These tips are a resource for budding entrepreneurs as they start their journeys.