Getting started as an entrepreneur

The basic premise of starting a business is to offer a product or service that people need. You could offer something that’s brand new (which is rare), or introduce your own version of an existing product. If the product is not a new invention, you are presumably creating your own unique brand, style, location, customer service delivery, and approach to drive growth.

Being an entrepreneur affords an individual the opportunity to see a dream into fruition and potentially grow a business idea into a successful corporation. For ambitious people that have never been entrepreneurs, working for themselves is an intangible goal. They often don’t realize that starting a company takes a tremendous amount of planning and hard work. Unless, of course, you have cofounders and/or enough capital to hire several employees, contractors and consultants.

Developing a business idea requires more thought than simply a “gut feel” about the funds or profit required to keep the doors open. Sustainable business ideas require detailed analysis, teamwork, and significant effort to design the product, service delivery and operations. If you’re working with a partner or cofounders, it’s critical that everyone be on board prior to business launch. The concept must be fully fleshed out, preferably in a business plan, for careful consideration and evaluation first. Being able to articulate your goals, your plans, and your operational management will also help with obtaining external financing to launch the business.