10 Startup Tips
Chapter 3: Am I an Entrepreneur?
People can go far than they think because they believe that they can do it. – Aysa Angel
When you hear the word ‘entrepreneur’,
what image comes to mind?
Bosses like Virgin’s president abound.
Yes, that is the talented
and ambitious businessman Del-Boy Trotters1 and his empire.
He rebuilt the faucet brand “Peckham Spring Water” long
before Coca-Cola started doing advertising plans.
We often think of entrepreneurs as born pragmatists.
They not only hire
but even take advantage of their own relatives.
Some entrepreneurs are like that.
But I do not. And many of the entrepreneurs I meet are like that.
In fact, given any entrepreneurial role model,
I’ll show you the opposite:
• “Entrepreneurs often come from a poor family.”
This obviously does not apply to Charles Dunstone
– the founder of Carphone Warehouse2,
he attended a private school for the rich.
• “The businessman must be a man,
a cold-blooded salesman.”
I don’t think Body Shop3 founder Anita Roddick would agree with this idea.
• “If you don’t start your first business before the age of 10,
you won’t be able to become an entrepreneur.”
Let’s take it.
When Ray Krok founded McDonald’s,
he was in his 60s.
Am I a born entrepreneur?
Thousands of hours of theory
and heated pub debates have sought to answer this question.
Surely when you meet a model entrepreneur,
you will find it hard to imagine that
they can do anything other than business.
Even when they were in elementary school,
they were told that
their lives would end up in prison or millionaires,
and often both.
But apart from this minority of pragmatists,
there are many successful entrepreneurs
who do not belong to that archetype.
So don’t worry if you don’t feel like them.
If you’re eager to get started and are willing to take risks,
you can hold the world.
“I knew everything was going to be okay
because I recognized myself in many of the scenarios you describe.”
(Kate, social worker)
What type of entrepreneur am I?
There is no such thing as a “perfect” entrepreneur.
The aim of many people is financial freedom to do what they want
and this can come from an income of £6,000 rather than £600,000.
However, the type of entrepreneur you want
to be at first will influence many of your future business decisions.
Artistic Entrepreneur:
You wish to have a good personal life
and master your own destiny.
However,
you don’t want too many employees and responsibilities.
A lot of people don’t like being called “artist entrepreneurs”.
It’s hard to understand why:
“John” is a graphic designer specializing in whiskey brands.
Business products include the trademarks “John”,
“Volvo” and “Labrador”.
Because he is famous in the world,
he pays a high price for his work,
he is satisfied and has the right to choose the time and place to work.
Keep in mind the challenges you will face below:
• The most valuable resource is time.
If you don’t want to hire an extra staff manager,
remember,
a few support people can help ease the clutter.
• Calculate the correct time and learn
to say “no” to inappropriate tasks.
• Isolation can harm you.
Make sure you have a network of supportive people.
• You will probably have fewer customers.
Focus on taking care of sustainable relationships with customers.
Empire Builder:
For you, being big is obviously great!
You never know what kind of business will come,
just as long as you can make it grow.
You think Citizen Kane4 is a perfect role model.
Your dreams should include
not only money but also praise of your peers.
• The most important challenge is the business sector.
Make sure you’re entering an industry that will thrive.
• Make sure you have someone to manage cash flow,
taxes and legal matters
when you’re too busy with your business.
• Don’t stop planning.
Your path to growth will include some strategic changes.
• Build a team of people who are better than you in some areas
and know how to properly delegate.
Social Entrepreneurship:
You probably never thought you would be an entrepreneur.
Obviously you are not in business for the money.
However, you have a strong desire to make your dreams come true,
like opening an art exhibition,
taking disadvantaged children to Disneyland,
or changing an absurd law.
A reader of mine is spending time researching shampoos for hair loss.
Another is running a propaganda organization aimed
at reducing the number of child deaths in cars
– the rate in the UK is the highest in Europe.
You are an entrepreneur like so many others
and there is much for you to learn in this book.
Owner of a business
in a large company:
You can be the one to set up a business
under the company you are working for.
You don’t own the whole company,
but you get a bonus for your activity.
Ajaz Ahmed works as a salesman at Dixons,
earning £16-30 a week.
He is determined to become rich.
He bought a computer
and was surprised to find
that no one could teach him how to connect to the Internet.
He suggested to his boss
that he should start an online business.
This led to the founding of the company Freeserve.
The company grew
and at one point was worth more
than parent company Dixons.
When the Dixons company was sold for £1.6 billion,
even as a minority shareholder,
Ajaz generated a big idea.
And Greg’s story:
“When a big company bought the company I was working for,
things really slowed down,
so I decided to start my own business
and bought this book for inspiration.
The book has helped me to have a better business perspective and argument.
Thanks to that,
in a short time I found an area
where the company could make an extra £300k.
They asked me to take on the position of Product Manager in Europe
so I could look into other specific areas.
I will be starting work in the near future
but what excites me is knowing that I am hired
and can still be a successful entrepreneur.”
Remember, there is no such thing as an entrepreneur.
You are an entrepreneur not because of who you are,
but because of what you can do.
It is a matter of action and behaviour.
The saying of millionaire Tom Hunter is true in this case:
It’s not about IQ, it’s about ‘I CAN’.
And what’s the best part about this?
If we are not born entrepreneurs,
we can learn to act like one.