Business Est. 8 minutes read

Why Do You Want To Be An Entrepreneur?

There is a bunch of online entreprenurs who make a living of telling you to become an entreprenur. But why do you want it?

The world is full – There is no more room for wantrepreneurs.

Sorry…

the ticket is revoked.

Being an entrepreneur is no easy walk –let’s talk about it.

Start with why..

Why do you want to become an entrepreneur or begin a startup?

Is it to provide value to the world?

Or do you just want to make a quick buck and have a cool LinkedIN profile?

If money is your only motive for becoming an entrepreneur – you’re probably doing it wrong.

I see a lot of online entrepreneurs telling other people to become entrepreneurs, that inspired my to ask – why?…

The promise of a great lifestyle is luring

I have to say..

There’s nothing wrong in successful people spreading good karma, sharing their knowledge to aspiring entrepreneurs.

What I do have a problem with are those who prey on the naive selling them on the idea of owning a successful business is achievable easy, just by completing an online course.

… You just have to buy their expensive online course – and then you will start making six figures in just three months.

It is exactly like an MLM scheme.

They give you high income projections without really telling you how you’re going to make it.

They show a random bank statement, a flashy car, or a laptop under a palm tree.

And how do you achieve their status, by buying access to an online course on how to make online courses.

Do you get for what you pay for?

Most often, it is a few brochures with information you could’ve found on your own.

From the internet. – For free.

The King of Online Gurus

Take Sam Ovens for example…

The guy claims to be a success, by selling crap load of online tickets to his course on – guess what? How to make online courses.

That’s $2,000 for a course containing information you can easily find online.

No kidding.

This guy sells $2,000 courses, targeting young, impatient people who want the easy ladder to success.

Young wantrepreneurs who have been dreaming of the independent lifestyle since they discovered instagram.

There really is no easy way

The truth is, you can’t accelerate success. You could prolong it with the wrong teacher, though.

And this is why I take issue with “entrepreneurs” like Sam.

They send misleading messages about entrepreneurship and riches, as if it’s one simple recipe that you can follow.

Cue the made-up credentials.

– In Denmark, I’m quite sure this MLM strategy is actually illegal.

The problem with Coaches

I also see a lot of men and women who label themselves as business coaches on LinkedIn but they don’t have any experience with what they claim to be an expert at.

They have just completed a….. wait for it ….. course, on how to be a business coach.

No business owner, in their right mind, would ever pay a business coach, with no business experience to coach them through their obstacles.

So now these business coaches is stuck with one choice …. Educating other business coaches.

… Rinse and repeat.

Here is what you should do, if you want to be an entreprenur

#1 Have Some Skin in the Game

You cannot put on a white lab coat and say that you’re a doctor.

So how are you supposed to be a coach or a consultant if you have no real experience?

Where is your body of work?

Anyone can buy social proof on Fiverr – And in that I see a huge problem.

One could almost say the same thing about Gary Vaynerchuk, who loudly disregards strategy for mouth breathing in Youtube videos.

#2 Provide real world value and experience

In order to succeed in as a consultant you need to provide value; something that people really want –and more importantly, something they actually need that will transform their revenue and not hurt people. Or their wallets because you want a Lambo!

Sometimes you can’t be their wacky best friend; you need to be the bad tasting medicine.

These guys don’t do that.

Your message and teaching doesn’t have to be completely unique.

As long as you provide something that people need or want and they’re willing to pay for it, your business will thrive. But your customer’s business should, too.

#3 Remove all friction

Next to providing value is making your customers feel good about you and your services.

This doesn’t means you should stop at making valuable products, but also making sure the transaction process is as pleasant as possible.

Your customers shouldn’t feel devalued or worthless just so you can conjure up some sort of upgrade.

If they like your products or services, and find the experience of transacting with you enjoyable, they would never think of going anywhere else. A happy customer can quickly become a loyal customer.

It sounds easy but delivering value consistently is actually quite challenging.

#4 Deep dive on the important details

You need to pay a lot of attention to details, especially as people have constantly changing needs.

Take Basecamp or Apple for example.

They started out as a computer company and later developed the iPod which radically changed Apple’s brand, making them more than just producers of personal computers. They saw a need, and they painstakingly delivered.

Anyone here ever own a Rio?

Now there’s a brand that almost did it right but got overshadowed by a brand that did it just a little bit better.

Power of Influence

After destroying the pioneers in the personal audio niche, Apple built other portable electronics such as the touchscreen smartphone and tablet computer.

Now they have the power to influence people to use Bluetooth earphones instead of wires.

Huge rainmaking ability. – Because their product “just works”.

These are not just your typical consumer electronics company.

#5 Simplify the Complicated

Apple stood out from their competitors because they provided something that their competitors weren’t.

Simple and easy to operate products.

Apple electronics are so easy to use that even your grandma could navigate her way into it. “No earphones? Good, I didn’t like them, anyway”.

This was a key differentiator for them in an arena where technology has become more intricate.

They also make a product only if it’s better than existing ones in the market. Apple didn’t invent the PC, the MP3 player, the smartphone, or the tablet –but when they made their own version of it, it was much better than their competitors. Like Rio.

#6 Deliver Real Value

Value should also be beneficial to both parties involved.

If you’re only taking money from your customer without giving them true value in return, be careful because you could get labeled as a hustler og scam-artist, like previously mentioned, Sam Ovens here.

Last I checked he didn’t even have a substantial website.

He lives entirely in the social media ecosystem –any small algorithmic change, and he’s a race car without a race course.

Own the race course.

Don’t only focus on profits – take a look at the value you are actually giving.

Profit vs Value

Let’s say you did prioritise profits over providing value.

You would focus less on the quality of your product and still sell it for a higher price so you can make higher margins.

You would pay your employees less because, you care more about your profits than people right?

You also wouldn’t invest so much in improving your products and services because all that matters is that you’re making money.

The Result of Greed

Sooner or later, customers will realise how useless your offer really is and your employees will get tired of being underpaid so they quit.

And what happens? You taint your business’ reputation, lose your customers, and decrease the morale of your employees.

Now let’s look at it the other way around.

If you cared more about providing value than gaining profit, you would make quality products and sell them at a fair price. Enough to help you make a margin so you can also pay your employees a decent salary. Everybody wins.

Loyalty and Value

When customers feel they are getting value for what they pay for, they are more likely to buy from you again and recommend your product to their friends and family. So now not only do you have a loyal customer, you also have plenty of referrals.

  1. Is there something valuable that you can offer to the world?
  2. Are you willing to put in the hard work it takes to succeed in your business?
  3. Even if it takes many years?

The value of your product can dissipate over time. It is an asset that matures over time.

With this in mind, you need to ask yourself if you also have the foresight to anticipate the future demands of your customers.

In Conclusion

There is no better time to be an entrepreneur than today.

Different marketing channels are available making it easy to target your ideal customer and processing orders can be done in just a few clicks.

But it’s important to really think about entrepreneurship is the right for you.

Maybe you can do it part time while still working at your real job.

Or try working from home like me, and devote the rest of your free time on your business.

Success is a Slow Ascent

If you want to be an entrepreneur just for the fast money, this may not be for you.

The truth is that most entrepreneurs earns next to nothing the first many years that they started their business.

> Those who succeeded didn’t get rich right away.

They had to put in the hard work, sometimes going broke in between, before they really started making a decent income.

> There are no shortcuts or magic formulas to it.

Forget those courses and programs that tell you that you can be a millionaire doing minimal work. Fruitless waste of time and effort.

The cold hard truth is that you need to work, really, really, really hard, even when others tell you to stop.

When you work hard for something, you’re able to better appreciate the fruits of your labor.

This allows you to make better financial decisions because damn, that money didn’t come out of nowhere. It took years of blood, sweat, and tears.

What do You Think?

This was an opinion piece –I’d love to hear yours in the comments below.


Written by Simon Elkjær
I work as a consultant and I have a passion for for e-commerce, optimisation, growth, SEO, and entrepreneurship.

 

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