If you already made a decision to become an entrepreneur but you don’t know what to do next, today, in this article, I will give you a five-step process for you to successful student entrepreneurs, the evolution of becoming an entrepreneur, and you can make a decision for yourself on which route you want to go to.
So before I get into the five-steps, let me first talk to you about different industries, sectors, routes, services you can take to becoming an entrepreneur.
Because the great thing about wanting to become an entrepreneur is not one dimensional. There are multi-dimensions of becoming an entrepreneur and I’ll share with you which route I took, but there’s many routes. So as I go through all of these here with you, you need to ask yourself what sparks. You may be a 17-year-old reading this and say boom! That sparks with me. Or make a list of three.
Then investigate those three and choose one of the routes and give 10 years to it.
So now, you may be a 32-year-old and you’re saying, “I already made a decision which route I’m going to. But how do I make a decision to take it to the next level.”
This is the route I took. I started off with different ones, but this is what I connected with the most. Now for you, financial could be many different things. It could be somebody selling memorabilia. I know somebody who sells hundred thousand dollar baseball cards or more. That’s what they do. They just sold one card for $1.
It was a Mickey Mantle 1952 tops baseball card, PSA, I think it was 9 that sold for $1. 15 or PSA 8 that sold for that much money. That’s memorabilia.
- Maybe art is financial.
- Real Estate.
Whatever it is, that’s all part of financial. FOREX, commodities, that’s financial.
Then you have consulting. You could be somebody that helps with strategy. We’re going to come and help your business put a strategy together, take it to the next level. Lawyers, you’re still consulting.
IT consulting, Marketing, advertising, CPA. That’s all part of consulting. Services could be you’re a personal trainer, car wash, Uber, cleaning pools, haircuts. That’s service, because I can cut my hair myself, but maybe I’m not going to do as good of a job as you are.
I come to you and I pay $20, in exchange for you to do it as an expert, because I don’t want to do it so I’ll give it to you. That is an exchange for service that you’re providing.
Hospitality could be a restaurant. Hotel, bar, nightclub. You may say, man, I just love bars, I grew up in it with my family. I want to go and find a way to make a real cool bar and that’s what I want to do.
My mother’s got this most incredible recipe and what if we can turn it into a business, right? Inventor – it could be research and development. It could be technology.
You can invent the next table that turns around into a whole different thing and you turn it around and the color changes. All these other things you can do as an inventor.
Then you have nutrition, which is health and fitness. You can take the nutrition route, the gym route, the medical route. You may like that. You may go want to find the cure for cancer.
You may want to go out there and open up a gym and what makes your gym very cool is it’s a gym combined with a library. And hey, matter of fact, that may be an incredible idea right there for you to be thinking about. I’m going to open up a gym and I’m going to add a bookstore to it. Can you imagine you’re buying books on this side, then I’m going to go lift weights.
So after my workout, I have a smoothie or something and there’s books I want to buy, and next thing you know I’m buying two or three books. That’s your niche.
You want to do gym and something else at the same time.
Cars, computers, clothing. You like clothes. You want to go a certain brand.
You speak multiple different languages. You want to take that to the next level.
Electrical, plumbing, software, coding, fashion. You see fashion in a different way where people look at you and you just know how to put it together. Then you have entertainment.
Entertainment could be graphic design, movies, dancing, editing, music, writing, acting, makeup. You’re just all about entertainment. And that’s fascinating to you.
Agriculture could be farm, equipment, natural resources, oil. Obviously, some of these things connect with other ones that we have here. But you can pretty much choose.
By the way, there’s some that I’m not even putting here on the board, because we would need a ten times the size of this board to have it on here. But you get to pick and choose which one you want to go with.
For me, one of the things I notice happens a lot is the newness mentality, which is a big mistake for some veteran entrepreneurs, which means what? They made a decision to be in one.
They’ve been in it for five to ten years,and all of a sudden they say, no, I want to try this. No, I want to try this.
No, I want to try this, thinking that’s the real issue or the challenge. But you got to choose one and stick to it for ten years. So now, how do i become an entrepreneur.
- Choose one route.
- Two, go find a place to work, for, you’re not an entrepreneur yet. But go find a place to work for and learn from somebody that knows exactly what they’re doing.
- Three, become an expert at that one thing.
So, for instance. You go into insurance, you learn under a company, let’s just say you got a job, you’re working under North western Mutual. I’m just throwing a name out there.
Then from there, you decide to go some where, where you learn under a great producer and you learn how to do all this stuff that he’s learning. And then you become an expert at insurance. You go work in a hotel, a restaurant, and you work from the bottom.
You become a bus boy and then you become a hostess, and a waiter. Then you become a restaurant manager. Then you move up in the restaurant and you say, man, this is exciting. I want to run a restaurant within a very massive chain.
I want to go to Europe and do all this other stuff. Whatever it is.
Step #1: Choose a route.
Step #2: Work for somebody that knows what they’re doing and work your way up.
Step #3: Become an expert.
Step #4: Find a way or two to make it better.
So, you’re going to write things down and say, “I would do it much better if we did it this way.” Once you find a way to make it better, then become a leader, either in the company you’re part of where you have a voice, or earn to have a piece of the company, or two, if they say no, leave, and go to another place where you can own a piece of the company or become an entrepreneur.
That’s the route, you can pick and choose how to get to that route, very simple.
Choose a route, work under somebody you can learn from them, become an expert, make a list of how you would do it better, next become a voice and a leader, ask to own a piece, earn a piece.
If that doesn’t work, go to another place where you can or start it yourself and become the entrepreneur.
Especially throughout the entire time, because I get a lot of people that tell me things like, Hey Mike, I have this great idea. And what do I do with this great idea I have with the company. Because I want to become an entrepreneur, but I don’t have any money. So how do I become an entrepreneur? Almost every entrepreneur I know worked somewhere, made some money, saved the money, then they started a business. That’s how it works.
It’s not just I’ve never ran a business before, I’ve never had a job before, I’ve never done anything before, can you please give me a half a million dollars.
There are as many different routes that you can, but when it comes to entrepreneurship, this step that I told you the five steps happen to be the most common way for you to become an entrepreneur.
And eventually build a business, become successful, and make a ton of money for yourself, and have fun doing it. Cannot wait to see you rock it in the world of entrepreneurship. You got the fire to pull it off. I’m looking forward to hearing your success story.