By: Dr. Daniel Leu
“One day, I’d like to be my own boss!” Who hasn’t said that or thought about the possibilities? But what’s stopping you from taking the first step? Is it the statistics you find on the internet telling you that 90% of startups fail? Or are your friends and family saying your idea is flawed and not worth the risk? Maybe you don’t think you have the right personality. Perhaps you have a tremendous fail-proof idea but do not have the funds to start.
Regardless of the reason, if you continuously highlight why something won’t succeed, you never take the first step. If you never take the first step, you will remain stagnant, and stagnation in an ever-evolving society is regression. This does not mean starting a business won’t be complicated or that your fail-proof idea will succeed. However, we forget the most essential aspect of entrepreneurship: the willingness to take risks and learn from our mistakes. An unsuccessful startup is not a failure because it is an experience. We pay money to get an education at school and learn from professors and textbooks. Investing in a startup is the tuition for hands-on business training.
What is an entrepreneur? The simple definition is someone who starts a business. Therefore, everyone is or has the potential to be an entrepreneur. “But I don’t have the right personality or traits,” you may be telling your computer screen after Googling what it takes to be an entrepreneur. Here’s a little secret: There is no ideal personality or trait for an entrepreneur. You can find entrepreneurs who are flexible or stubborn, creative or repetitive, and optimistic or pessimistic. However, an entrepreneur must be willing to take some risks, work hard, and never stop learning.
You want to be your own boss but have no idea what to do. Where do business ideas come from? There are infinite possibilities for business ideas. You don’t need to have the latest or most fabulous creations. You don’t need to be an engineer and own a patent for new technology. You don’t even need to be creative to come up with the latest trend. Your everyday activities, items, and experiences can spawn a business idea. Many people turn passions and hobbies into business. Some convert their expertise into a startup opportunity. Others stumble across and take advantage of an opportunity that presents itself.
You may be asking yourself, “What if I have the desire but no ideas? What if I have an idea? What should I do next?”
Join us during our ongoing five-part webinar, Entrepreneurship Unleashed: A Guide to Starting Your Own Business, where we will discuss business ideas and opportunities, turning them into reality, drafting a business plan, legalities and regulations, marketing, and financial fitness.
Upcoming Session:
- Marketing Mastery: Strategies for Effective Branding and Promotion | Thursday, Feb 15, 2024 – 1pm to 2pm
- Legalities and Regulations: Navigating the Business Landscape | Friday, Mar 1, 2024 – 1pm to 2pm
- Financial Fitness: Managing Finances for Business Success | Friday, Mar 15, 2024 – 1pm to 2pm
To RSVP, please email studentaffairs@stanton.edu