First, let’s get one thing clear. You’ve been sold a lie.
It’s the dream of a good career — A stable job, a regular pay check, and a clear sky for steady advancement.
This may have been true forty years ago, but it simply no longer applies in today’s world.
If you want to be rich, you have to understand the current business climate first.
More jobs are being outsourced or automated, and while that’s scary for most people, you can’t let it scare you.
Now, read this and think carefully. You don’t have to be dependent on a boss for your income. You can make up your own hours, work as hard as you want, and have the freedom to earn as much money as you need.
Sounds too good to be true, but it isn’t. To have the best chance of being rich and becoming free, you need to become an entrepreneur.
This guide will break down how to do that.
Mindset Is the Seed that Will Grow Your Wealth
Before we get into the practical steps, we need to have a look at mindset.
A mindset is a set of assumptions and beliefs that you carry with you that affect how you see the world, how you think, and how you feel. To be successful as an entrepreneur, you need to have what we call the Modern Gentleman Mindset.
What does that mean? The Modern Gentleman Mindset is the set of beliefs that will make you stand out from the crowd, that will enable you to reach a high level of success, and will give you all the tools you need that you need to be who you want to be.
Let’s break it down and explain why mindset is so important when becoming an entrepreneur.
Tenet One: Ruthless Self-Responsibility – “I Am Not a Victim.”
You are NEVER going to be happy if you constantly perceive yourself as a victim.
And, you’ll be very unlikely to be successful as an entrepreneur. This guide on how to become an entrepreneur involves Self-Responsibility.
Here’s a truth you weren’t taught in school. How you see the world is your choice. If something goes wrong, you can see yourself as the victim, look for sympathy, or you can grit your teeth and keep going.
You aren’t a victim because of what happens to you; you are only a victim if you choose to be.
First and foremost, an entrepreneur is a person who’s said, “I can be more useful to the world if I am in FULL control.” With control, comes the weight of responsibility.
You are accountable for everything now, and that’s how you are going to power forward.
Whenever things go wrong, take longer than expected, or completely backfire, it’s the easiest thing in the world to feel sorry for yourself. If success is really for you, you can’t let this happen.
Instead, you must learn from what you do wrong, adjust, and become better. You’re not a victim, you’re a modern person, and this is Tenet One of the Modern Gentleman Mindset.
Tenet Two: The Value Belief – “I Will Create Value for Others”
To be a successful entrepreneur, it’s important that you start seeing the world in a different way than normal people. How to become an entrepreneur has to do with becoming a value producer.
As we have discussed above, there is the victim, “loser”, way of seeing the world, then there is the modern “winner” way of seeing the world.
You need to start seeing opportunity everywhere.
A lot of people start becoming interested in being an entrepreneur for selfish reasons. Who can blame them? Hardly anyone is exempt.
Making a lot of money, having freedom, and working on something you are passionate about—there’s a lot of appeal.
But, the key to turn this from an idle fantasy into a reality underlies Tenet Two: The Value Belief.
To be successful as an entrepreneur, you need to offer value. You need to create something that people want to buy. People have to want to spend their hard-earned cash on whatever service or product you are offering. Becoming an entrepreneur starts with offering real value.
There is no way of getting around this. If you want to become an entrepreneur then you must start thinking, “What do I have to offer?”
Tenet Three: Do No Harm – “I Will Be Ethical”
We’ve just discussed the fact that you must have something to offer that people will want to buy from you. Some people abuse this.
They create a product or service that is misleading; they prey on human weakness and sell them things that will not help them.
In short, they are in it for themselves and will step on anyone to get their way, or at least try.
This is not how an entrepreneur should think. You should be looking to create value—real value. You do this by being ethical.
Being dishonest is not how you become an entrepreneur.
Don’t sell a product you don’t believe in. Don’t lie about your service. Don’t try and take advantage of people’s lack of knowledge for your own gains.
How to Become an Entrepreneur Tip: Honesty is the Best Policy.
There are a few reasons why honesty is the best policy. Firstly, if you take advantage of people, you’ll be left with a whole lot of guilt. Even if you aren’t aware of it, it will be stored up in your subconscious mind.
Better to just be honest and avoid that.
Secondly, you’ll make more money if you’re ethical and honest. Ask anyone in business and they will tell you a returning customer is a lot more profitable than finding a new customer.
The Actionable Steps – How To Become an Entrepreneur Made Simple
Now that we’ve covered the Modern Gentleman’s Mindset, we can move on to the actionable steps to take to start a business.
Step One – Start Small
You read that right. How to Become an Entrepreneur is all about starting small.
People can lose themselves when it comes to business ideas. We will read a book on Steve Jobs and our minds become filled with grand ideas that are so big we can’t even start.
You need to start small if you want to start.
Instead of thinking of founding a billion-dollar company, think of what you are good at that can be turned into a business.
Step Two – Look for a Gap
Think for a second about why is prostitution called “The World’s Oldest Profession.” It’s simple. There is always a demand for sex. Our biology is hardwired that way.
Now it goes without saying that selling your body for money not the best thing to do, but you see the point: demand creates the room for a business. That’s how to become an entrepreneur, fill a demand in the market.
Think of a house, and all the businesses connected to homes.
You have the people who design houses, the people who build them, the people who sell them. Then you have the people who put the carpets in, people who build the furniture, the people who do the plumbing. That’s just off the top of my head, but the point has been made.
These businesses are possible because we live in houses and like to have things like running water and controllable heating.
So, look for a gap, and fill it with your product or service. That’s how to become an entrepreneur.
That’s really the key to any business: satisfying a customer’s need.
Try things out, see where the demand is, and see where you can help.
Step Three – Consider the Side Hustle
Don’t quit your job just yet. The best way to ensure business success is to build it up on the side and transition when you know it can support you.
Below are some easy business ideas that you can start anytime, that can be just a side-hustle for a bit of extra cash, or if you work hard at them, they could turn into a full-time source of income. Even if they don’t, freelancing and service-based businesses will teach you what you need to know when you do go big.
If you have a skill that people pay for, consider freelancing.
Good at coding, graphic design, or writing? You can freelance. It’s a simple business model. People pay you for work you do for them. If you are good and over-deliver, then there is no reason why you can’t continue to raise rates and build a nice income for yourself.
Below I’ll include a few links to some popular freelance websites. Have a look at what others are selling and see if you could do the same.
Upwork – A website where clients post jobs and you send a proposal if you are qualified.
Fiverr – Create a gig that people will want to buy and add extras to ensure you make more than the standard five dollars per job.
Freelancing is a good way to start your how to become an entrepreneur journey.
Freelancing is one way to start small. Another way is to start a local service-based business.
If you know how to do yoga, or if you are good with dogs, you can start a simple service-based business and attract clients who live locally. Teach yoga in the park or post on Facebook that you can walk dogs for a fee.
Those ideas may sound simple, or boring, but this is the essence of a side-hustle. You do something that is easy for you and offer it to others.
Step Four – Finding the Right Mountain and Bringing It Together.
In Felix Dennis’s book, How to Get Rich, he talks about the importance of finding the right mountain.
It is a combination of your skillset, your natural passion, the current market, and going where the money is.
We’ll assume that you’ve followed the steps up to Step Four. You’ve started small, you’ve read a few books on how to start a business, and a few more books on your specific field. You may even have tried freelancing and are thinking about taking it further or moving on to something else.
Other people will tell you to start here, but if you’ve read this far, you know the importance of mindset, of starting small, and of finding a gap.
But, if you’ve come this far, then it’s time to go for it.
If you’re starting a business that requires capital, you will need to get the money yourself or get a loan. If you’ve had success with your service-based or freelance business, you may have money saved up you can use.
Otherwise, you’ll need a loan. Dennis recommends that you ask family and friends before you think about people like venture capitalists for the simple reason that you retain ownership of your enterprise.
Be ready to struggle at first.
There’s a reason why most people would rather have a stable job than be an entrepreneur. It’s stressful, intense, and it can be overwhelming.
Therefore, if you can, you should build it up as a side-hustle while you keep working at your job. This way, you’re not going to starve if something goes wrong.
Nevertheless, be ready to work long hours and be ready to have doubters.
You must have a strong mindset and willpower or you’ll fail to make the leap.
Focus on delivering a great product or service, be careful of overheads, make sure you keep your cash flow in check, don’t let yourself be distracted by things that don’t give you a return, and keep going!
What You Need to Remember from This How to Become an Entrepreneur Guide
This has been a guide on how to become an entrepreneur. After reading this, you now possess three powerful mindset tenets of the Modern Gentleman Mindset. You are not a victim, you will create value, and you will be ethical.
You’ve learned that starting small is best, as it means less risk and more chances to test out your ideas. You also understand that all businesses exist because of demand, and to be a success, there has to be a demand for your product or service.
You now understand that you can start a business today if you wanted to. Freelancing or a local service-based business are the best ways to get a feel for running your own business that can grow into something more, or prepare you for something bigger.
If you adopt the mindset, and follow the steps, when you do reach Step Four and take on your Mountain, you’ll dominate.
This has been a Suspendermen article on how to become an entrepreneur. If you have enjoyed the how to become an entrepreneur guide, then let us know in the comments below.