So you want to be an entrepreneur? Alberta Venture says that entrepreneurship “is a marriage, not an affair. That means you’d better be ready for the commitment.” Choosing entrepreneurship, regardless of the actual business type, is a massive risk and while it may ultimately provide you with freedom, it will also take over your life – in the beginning. Entrepreneurship demands your whole-hearted involvement every step of the way. As specialists, Cormode & Dickson guides new Alberta entrepreneurs, showing them how to start a business and guiding them through their business plans. To ensure their success and help entrepreneurs of Alberta start off strong, we’ve put together this 5-Step Guide to Being an Entrepreneur.
If you’re already to take the plunge, and a business you might be interested in is a gas station, download our gas station specific guide.
- You Have to Be “All In”
Being all in means working hard, being driven. It means living and breathing the business constantly. While this kind of passion requires sacrifice (mostly sacrificing your free time and personal life), it’s necessary to get your project out of your head and into the real world. You must be persistent and tenacious and patient – and you must continue to be even in the face of failure.
- You Have to Take Risks
Entrepreneurship is risky business. Alberta Ventures says that “An entrepreneur isn’t concerned with evaluating the downside risk of an investment. They will risk everything to give their company a fighting chance – and that often means placing their very livelihood on the line.” If you’re too busy worrying about success, it could be your downfall. Focus on the goal and go for it.
- You Have to Ask for Help
No entrepreneur is an island; no entrepreneur is truly “self-made.” Everyone needs help and the best entrepreneurs succeed when they see their own limitations and delegate. Whether that means hiring staff to assist or finding a mentor to guide you, finding the right help is key to being successful.
- You Have to Be an Optimist
According to Alberta Venture, “The quintessential trait of an entrepreneur is the unfailing belief that they will succeed.” Worrying about what can go wrong only hinders you. Keeping your eye on the prize, remaining confident about your success, is half the battle.
- You Have to Do Your Homework
Research, Research, Research. Put your tenacity to work in learning every aspect of your idea. Arm yourself with market knowledge and research. Know what’s worked for others and what hasn’t. Build a solid business plan to guide you on your journey. Understand the practicalities of starting a business from registering your business, to hiring employees, and to workplace health and safety.
At Cormode & Dickson, we specialize in taking an entrepreneur’s project from conception all the way to completion. But we don’t stop there. We lend new entrepreneurs our expertise in Alberta construction and in business start-up. We guide you through the business plan – your business’ roadmap – and help you find and overcome your project’s limitations. We don’t just want to build your project, we want to help you succeed.
If you’re ready to take the next step, see our “construction resources page” which may help you decide what direction you want to take. Otherwise, contact us for a FREE CONSULTATION.