What does it take to be an entrepreneur??? This question has been asked so often, and there is no exact answer for this other than, dedication, hard work and a big amount of risk. If you want to be an entrepreneur you have a lot of hard work ahead of you – research, plans, time and more time and research.
An entrepreneur is someone who creates a product on his or her own. This may seem like an unattainable goal but it’s actually not as hard as you may think. If you truly want to become an entrepreneur then there are some steps that you will need to take in order for you to be successful. The beauty of the internet is that it makes this task much easier. The necessary tools to get the job done is right at your fingertips and should without a single doubt be taken advantage of.
There are so many reasons that you should take the small risk and finally break free of that daily 9 to 5 job that keeps you from spending time with your family. Some of these risks are obvious, and there are ways to lessen the risk and that’s by having a side job while trying to get your business going. This will allow you to supplement your income and reduce that risk. If you really want to get into the driver seat of your life then you need to just do it, and there are many ways that this can be done.
Lets look at some of these ways….
You have an idea and you think its great enough and will work and the people will like it, then start with making a business plan and how you will make the idea useful for its investors and the users. Analyse the strength and weaknesses of the plan and ask yourself again after looking at the SWOT if the plan is still good enough feasible. If you have a positive answer then you need to work on the financial model of the plan. Once you have a business plan in place that’s when you make your next move.
If you are a rich man’s son or a have saved a lot of money since you were a kid for your dream project then you are set to launch but if you don’t fit into the category that’s when you struggle begins.
You need to approach private investors, financial associations or banks who would be interested to fund your project.
Make sure you show the next 5 years plan when you prepare the financial model of the business plan and also the valuation of the company after the completion of 5 years. Investors always want to know how much will they be worth after a few years if they are funding your project.
Never forget to keep one foot on the ground before you lift the other, because if you are not a super man then you are setting yourself up to break your nose.
These days we have one another option which is a great one, many universities and ICT Qatar organizes various business plan competition in which you can participate and submit your business plan. And if your idea is good enough you may end up getting an investor for your project.
Success stories are always a good motivation, make sure that you have an idol and follow his footsteps in the right way. This will ensure that you are always motivated and moving in the right direction.
I hope my suggestions will be handy and it may help you achieve your dream.
Cheers,
Alladin.
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