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Being an Entrepreneur
What is BtheB to me? It all begins with the basics, and that is being an entrepreneur and learning the ropes.
So, what makes a person an entrepreneur? I am more than happy to share my meaning of entrepreneurship with you, what it takes to be an entrepreneur and an entrepreneur’s unique characteristics.
What is an entrepreneur?
An entrepreneur is, by standard definition, someone who starts and runs a business, perhaps taking on financial or personal risk in the process. Remember these words of financial but emotional risk because if you are ready to step into the shoes of an entrepreneur, get ready for one hell of a ride. First and foremost, you must have the passion, the grit, the desire to bring ideas to life, the drive to solve a problem. Ah yes, the financial stability as well. Did I already mention that?
What are the personality traits of an entrepreneur?
There is no single personality profile that determines success potential. Each area of expertise demonstrates strength in specific areas, each with a unique superpower that defines how you run and think about your businesses.
Top entrepreneur traits:
- Risk tolerance
Other beneficial traits for entrepreneurs include dedication, adaptability, motivation, critical thinking, and detail awareness. Stop reading now if you do not hold any of these qualities, as you may not be right for this career choice.
Maybe you are risk accepting but have excellent discipline and notice to detail—your depth will lie in building a constant business slowly with a reliable safety net. That should be your plan, at least. Or maybe you are not overly organized or focused on detail, but you are bursting with passion and vision. In this case, you may make a great leader, bringing on skilled partners attracted to your ideas and enthusiasm. My advice to you is to balance the scales in your favor after reflecting on your true passion, what that means to you and what that may mean to the rest of the world.
So, how do I become an entrepreneur? What does it take?
You can take your initial step by merely pressing the “GO” button inside of you. Notice, I did not say the “easy” button as this is not a reality when becoming an entrepreneur. The good news is that there is no test or college degree required.
When you are the boss, you make the rules but make sure those fundamental rules also apply to you first and foremost.
Favor your best entrepreneur trait and take your business idea to the people.
The drawback is there is also no guarantee, no regular paycheck if you can even garner a salary during your process. In most cases, though, the reward trumps the risk. In the best-case scenario, you build a life on your terms. If you fail, you will dust yourself off and, armed with experience and thicker skin, try again. From my experience, that is the real core of a best-in-class entrepreneur.
I hope this helps you in any way possible and in determining whether you are ready to step into the shoes of an entrepreneur.
– Inside the B
I will be launching a full apparel line under both the BtheB Technologies brand and the TTFN brand. If you click on the FaceBook link, it will take you to my page, and there, you will find some “coming soon” apparel for BtheB and TTFN. Keep checking back for updates and ta ta for now.
– What time is it and
BtheB represents a website for entrepreneurs or those pursuing the entrepreneur business. We want to help those in need of a place to land their idea, design, or concept. We can provide you with advice and direction, but you first need to have a viable plan of action and the passion and desire to go the distance and knowing all the difficulties that lie ahead of you. If you are not sure what I am referring to, please review my write-up on Being the B. Please review the below information for must haves before taking the leap into an entrepreneurship.
Before deciding on whether to move forward with a concept, you need to vet out the following:
- Do you have a business plan?
- If not, you need to put one together.
- Is your concept even relevant?
- Are you trying to bring something brand new to the table or reinvent and make an existing product much better and whether that is tangible or intangible?
- Is there anyone else already working in this field?
- If so, what does the competitive landscape look like from top to bottom?
- What is the overall market value your concept will land?
- When I started looking at the Business card industry, I quickly learned that it was still genuinely relevant, and over $1.2b per year was always going into this sector. So, I now knew that my concept had value because I would be making static business cards, both virtual and perpetual. That was the value add to me.
- If you are seeking funding, do you have a pitch deck?
- If not, you need one before even considering asking for funding.
- Are you already working with a financial institution such as a bank or credit union?
- Once you press the “GO” button, it is an excellent idea to have your banking credentials in order as you will have bills to pay, attorneys to pay, developers to pay, CPA to pay, and this list only grows from there.
- It is also an exceptionally sound idea to keep all your receipts, and you must already be an organized individual to make this work, or you must try ridiculously hard at this feature as you progress through your venture.
- Do you have a Sole Proprietorship or LLC set up yet?
- If so, is your company formally registered with the state your company resides in?
- Do you have a DUNS number for your company?
- Are you setting up your business as a for profit or non-profit?
- Are you setting up your business to eventually take on employees?
- There are many rules and options available to you when selecting which business model is the best for your start up. Just read through your options very carefully before deciding and always think in terms of long-term growth and planning before checking your business selection box.
- If you do not already have an attorney, it is a good idea to investigate this a bit further.
- Remember that you do have options here and that is Legal Zoom and many other online legal counsel organizations that can do exactly what a personal attorney can do for you, but the one difference is your online attorney can work for you at about 10% the cost of what a personal attorney will cost you. Always keep your options open here and do your research before assigning a personal attorney to a task.
- You will need an NDA (non-disclosure agreement) in place for your company.
Are we requesting that you have all the above boxes checked off before making a reach to us, no. That is not the case at all. But what we do request is the following:
- Completed Business Plan
- If you are unsure how to complete one or choose to provide us with a preliminary business plan, we will not respond to you, and your initial business plan will go into the trash file. The hard truth but trying to get a start-up off the ground or becoming an entrepreneur is not easy as it is not supposed to be easy.
Yeah, that is it, and if you are not sure how to get started on a business plan, what exactly is a business plan or how to complete a business plan, please do a GOOGLE search on business plans. You will find a wealth of free information for you to review and get started.
Lastly, we are here to help you out, provide you with direction and a potential partnership, but we are not a funding company. Again, we will not fund your project for you so, please do not expect that to happen even with a fail-safe business plan. We will do our best to align you with the right partners, developers, graphic designers, etc. That is what we are here for: to support you most professionally and practically possible. So, are you a Wanna B or are you going to BtheB?