Sunday, September 19, 2010

How to Become An Entrepreneur

An entrepreneur is someone who creates his or her own business.

Here's how to become your own boss.

Think of a great idea. If a great idea comes to you, evaluate if it is realistic. Think of cost, manufacturing time, and popularity.Always be open to different ideas. Ask and record if people would actually buy the product. If you don't have an idea yet, it is a good start to think of your target market first. Then brainstorm a list of things like places they shop, things they like, and things you like. Narrow the list down to about three items, keeping cost, manufacturing time, and popularity in mind. Find the easiest, most realistic product.
Or, think of a terrible idea. Really, you can't tell if a business idea is great or terrible until you try it in a real marketplace. Years later, the successful ideas are "obviously" good, but when they first began, most people rejected them. Google is one of the most famous examples—"Search is done. Does the world need yet another search engine?"—but many less-spectacular successes have strong arguments against them. There is always a good reason against a good idea. It doesn't really matter how good your initial idea is, because you're going to change it, anyway. "Investors invest in people, not business plans. Early-stage investors know that great people can make a mediocre idea work, but mediocre people can't make a great idea work.

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