11 Steps to Consider before Embarking on your Entrepreneurial Journey

Ken Anvire and Kelly Acs, CEU iLab

September 3, 2020

Today we will be presented with questions and arguments that encourage individuals to embark onto an entrepreneurial journey. Entrepreneurs generally are individuals who go against the grain. This piece will give you sound justifications for flying off your own wings. If you are interested in working for yourself, then pay deep attention as this is set out to be a richly informative article.

Let’s get started.

1. You’re your own boss

The ability of being your own boss is as good as it sounds. You do not particularly need to report to anyone when you are an entrepreneur (if you are the sole owner of your enterprise) but rather, you have employees report to you. You must be extremely knowledgeable and energetic, sound and keenly focused on the task at hand as you are the person responsible for critical decisions taking that would determine the direction of the enterprise will take. This, we have to admit can both be good and bad, as you need to develop accountability skills and develop a strong work ethic for yourself. You will not depend on a boss to remind you how to act as you are the boss. Once you have developed those attributes, you can reap the benefits of being a boss. It certainly beats having a boss breathing down your neck – as you are the boss. In case you were to get an investor for your operation, it is without saying that you would have to keep him informed of the progress or not of the endeavor. I would not particularly call this relationship one of employer (the investor) to employee(you the boss) relationship, but rather a collaborative effort of sharing intelligence/ information.

2. You can work whenever you want

The typical 9am to 5 pm work schedule, which represents the traditional office working hours, doesn’t apply here. You make the rules. You are not required to subject yourself to predetermined time schedules. If you’re best working hours are between the hours of 9pm and 2am, as opposed to 9 am to 5 pm , entrepreneurship may be perfect for you!

3. There is room to grow

You will not find yourself stagnant in your business when you are the leader! There will always be new paths to forge and opportunities to grasp! You can be innovative in your own venture. Free to explore avenues and ways of work that might have been generally shunned upon in a typical 9 to 5 corporate job role.

4. You build your own future brand

Being an entrepreneur means that you dictate your future. You don’t have to constantly worry about decisions being made by others because you know the background of your company and can make the decisions that you see are the most beneficial.

5. You get to do what you love

Really, is there anything better in life than “working” and getting paid to do what you love? Would you do this thing for FREE for the rest of your life? Then you’ve found your life’s work! YAY! Now go get paid for it.

6. You can make money

There is no limit to the amount of money you can make. Traditional jobs have a salary cap. When you get into the entrepreneurship realm, the sky is the limit. With that being said, you also need to be aware that it is a risky endeavor and you could end not making enough money. A corporate job might certainly guarantee you a set amount of money that entrepreneurship will not , however, the risk and gamble factor that entrepreneurship proposes in terms of income potential is exhilarating .

7. You are making the world a better place

Why? Because you are gifting the world, your love and talent doing something you enjoy! that is a contribution to society! Entrepreneurs just think differently! Not only do you innovate and provide an answer to the world’s most pressing problems, you get to expose your vision to the world and create a community of people who believe in your vision and either want to be included or participate in it . Entrepreneurs think for themselves which creates a breath of fresh air within the working space. As an entrepreneur , you take pride in offering solutions that get to be welcome, used and enjoyed by the vast majority of the populace.

8. It is the HARDEST and most satisfying job you'll ever have!

Any entrepreneur knows that running your own business isn’t easy, but it sure is satisfying! To build a business and share that with the world will undoubtedly be something you will look back on and be SO proud you did!

9. Curiosity is your best asset

Usually, when working for others, they lay out a plan for what type of work you’ll be doing. When you run the show, you are constantly learning on the job and staying open to new ideas because you have the power to implement whatever strategy you want.

10. Failures are just lessons

If you start your own business, you’ll inevitably encounter some failures. When you push past those hiccups, you’ll realize that those “failures” were really just moments of growth

and learning! Remember, you will fail. Acknowledge that it is normal. You can look at those challenges and fix them because you are resilient and strong.

Read our article about startup failure here.

11. There are no limitations to what you can achieve!

And that in and of itself is exactly why if you feel the call, you should consider entrepreneurship as your next move!

When it comes to starting your own business, the possibilities are literally endless. It’s filled with freedom, learning, meeting new people, stretching your knowledge, and ultimately creating a life that works for you! So if you feel the urge to try it out, take the leap and enjoy the ride!

CEU iLab one-year incubation program

The CEU iLab incubation program makes entrepreneurship more accessible by providing mentoring, know-how, network and a community for high-impact teams. All of this in a world-class environment, at a world-class university.