So You Want to Be an Entrepreneur

Some people want jobs working for large organizations. Some people want jobs working for small entities. Some people want to make a living as artists. Others would like to write for a living. And then there are those individuals who would like to make their way through the world as entrepreneurs.

The people who want to be entrepreneurs dream of coming up with an idea for a profitable business, founding it and running it until it becomes successful or, perhaps, selling it to someone else who sees value in it.

Entrepreneurs are a rare breed.

Life is often insecure. People working for large companies tend to have less job security today compared to decades ago. We are currently in a period of global economic uncertainty. We live in a time when severe financial challenges in Greece, for example, can impact the business landscape many thousands of miles away.

And yet, there are the ready few who want to be entrepreneurs, who want to go out and start their own businesses based on how they feel they can best serve the needs of the marketplace.

What is the best way to go about being an entrepreneur? Certainly, there is no one answer to this question. However, there is, I believe, a truth that should be embraced by the budding entrepreneur in order to help him succeed.

How you live, personally, should be in an inverse proportion to the risks you undertake in business. Simply put, the greater the risk you take in business the more you should live your life financially conservatively.

Being a successful entrepreneur often means having enough capital to weather the ups and downs of the marketplace. Being an entrepreneur means living on a never ending learning curve. If you are undercapitalized, because you live an inflated lifestyle, it is going to be very difficult to succeed.

If we want to take a chance to achieve business greatness than it makes sense to live humbly. The more money we spend on non-essentials, in our personal lives, the less money we will have to sustain ourselves through the tough process required to get a business off the ground and running well.

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*Authors note: You might see this column pop up online in a newspaper, under the name Both Sides. I am publishing this column here first at For a bunch of years, I have been writing newspaper columns. Since my columns have received a good response on CYInterview, I thought I would share it with you. Hope you enjoy.

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