Exploring the Role of the Entrepreneur

I’m Alix and it’s my mission to help as many of the next generation as possible work in careers that feed off their passion and purpose, making them happy and fulfilled adults. Providing support and hand holding where they may not have any.

With no support myself as I faced choosing my career path, and no guidance on the thousands of choices waiting out there, I know that my life would have been very different if some kind of mentor had been around. Someone to show me how to identify what career would make me happy.

Now I want to offer you hints and tips and support, show you what to think about as you face these crossroads. Be your ‘virtual mentor’ if you like.

Join me in making sure you make the right decisions for you, taking the path that will take you to the job that you love to get up for in the morning, keen to start…

So, as I always say in my articles, grab a coffee (mine’s a latte!) and let’s get to it.

Today we’re looking at the entrepreneurial journey. The one where you have no boss, are not expected to be in an office at a desk every day at 9.00 am sharp, ready to take orders and receive work dictated by someone else. The one where you make the decisions on what you’ll work on each day. Decisions that will drive your business forward.

Though this is appealing, there are several factors to consider before diving in.

Also, let me say straight away that I’ve included this in the ‘after GCSEs’ section because it is an option. However, it may be too early for you to follow this path. It may be more appropriate to finish the next level of your education, before taking this route while you write a business plan to make sure your proposed business venture is viable, refine it, consider funding and think about all the below.

And now back to the basics.

Summing up an entrepreneur…

Nowadays, the term "entrepreneur" almost holds a revered status.

It summons up images of visionary leaders, risk-takers, and creators of change. Beacons of innovation, attracting individuals with the vision and drive to create something meaningful and impactful.

But entrepreneurship is much more than just your financial success; it's about making a positive impact on the world.

Whether it's through creating jobs, supporting local communities, or driving innovation in key industries, entrepreneurs have the power to effect change and leave a lasting legacy that extends far beyond their bottom line - ‘bottom line’ refers to profits made.

So, what exactly defines an entrepreneur?

Definition…

At its core, an entrepreneur is a trailblazer, a spark for economic and social transformation.

They’re individuals who possess a unique blend of passion, resilience, and creativity.

They identify their passion and purpose and then use it to make the world a better place.

The path is certainly not for the faint-hearted. Becoming an entrepreneur is a challenging - yet incredibly rewarding - journey, filled with opportunities for growth, innovation, and it will impact both your career and your personal life.

So, let’s consider the mindset you’ll need.

Mindset…

Being an entrepreneur requires resilience and vision and a willingness to embrace failure and turn it into a stepping stone to success but the rewards – just think of the rewards(!) – are well worth the effort.

It's a lifestyle filled with challenges (lows), successes (highs) and a continual chance to grow.

Being an entrepreneur is about taking risks, embracing uncertainty, and turning ideas into reality.

You’ll identify an area where change is possible – be it social, technological, or environmental.

And, while the journey could be fraught with obstacles, setbacks, and the possibility of failures, it's also incredibly rewarding and fulfilling for those who are willing to persevere.

The uncertainties…

Entrepreneurs are risk-takers by nature. They understand that success often requires venturing into the unknown and embracing uncertainty.

Whether it's investing personal savings into a startup or pursuing a novel idea in a competitive industry, entrepreneurs are willing to take calculated risks in pursuit of their goals.

However, it's not reckless abandon that drives them but a strategic approach to managing risks and maximising potential rewards.

Identifying opportunities…

One defining characteristic of an entrepreneur is their ability to identify opportunities either before others do, or where others see challenges.

They possess a keen sense of observation, spotting gaps in the market or envisioning innovative solutions to new or existing problems.

And from Silicon Valley startups to local mom-and-pop shops, entrepreneurs play a vital role in driving positive change and create value for society.

However, entrepreneurship is not confined to the realm of startups and new ventures. It encompasses a wide range of activities, from small-scale enterprises to multinational corporations.

Even within established organisations, intrapreneurs exhibit entrepreneurial traits by spearheading new initiatives, and pushing boundaries within existing frameworks.

But, if you do work for a company, send out feelers as to how your ideas will be received. And if patents could apply for inventions, check out who will own it.

Whoever, wherever, whatever…

Entrepreneurship also transcends geographical boundaries and societal norms.

It empowers individuals from all walks of life to pursue their dreams, challenge the status quo and make a meaningful impact.

Characteristics…

One of the defining characteristics of successful entrepreneurs is their ability to adapt and evolve in response to changing circumstances.

Whether it's navigating market disruptions (think COVID), shifting consumer preferences (something new on the horizon), or technological advancements (always happening), entrepreneurs must constantly be ready to update or transform and stay ahead of the curve to remain competitive. An example is the way mobile phones have developed. Just think about all the new apps that keep coming out. A person is behind each idea and that could be you.

You’ll need a willingness to step out of your comfort zone, challenge the norm, and embrace new ideas and perspectives, look outside the box, if you will.

Ground up…

Another key trait of successful entrepreneurs is resilience. Building a business from the ground up is not for the faint of heart.

It requires unwavering determination, grit, and resilience to overcome the inevitable obstacles and setbacks along the way.

From funding challenges, to product failures, to fierce competition, entrepreneurs must be prepared to weather the storms and keep pushing forward, even when the odds seem stacked against them.

Collaboration…

Entrepreneurs are the architects of their ventures, the captains navigating through uncertain waters, and the driving force behind their visions. However, unlike traditional employees, entrepreneurs will have to wear multiple hats unless they have a network of mentors, advisors, partners, and employees to help bring their vision to life.

It’s unlikely you’ll be an expert in everything you need to be when starting out. It’s not possible to do and be everything that a business needs so developing a team, building strong relationships and surrounding oneself with talented individuals who share a common vision is essential for long-term success.

Then allocate the work to the best person to do it.

Note: I love (absolutely love) writing, but don’t have a clue how to turn that into a website with articles so I rely wholeheartedly on my daughter to handle that side for me. Not bragging but I have the best support system from her than anyone else on this planet!

The ability to lead…

Moreover, entrepreneurship is also about leadership.

Entrepreneurs must build and nurture the above networks of supporters, mentors, and partners who complement their skills but they will need directing.

Effective leadership is crucial in inspiring and motivating teams, aligning your team’s talents towards a common purpose, and fostering a culture of innovation and excellence.

Brainstorming with your team who are on the same page as you can also generate ideas and future projects – use this.

Challenges…

It’s also important to recognise that the entrepreneurial journey is not without its challenges. From the initial stages of finding your passion and purpose, pinning down an idea that supports that passion, through to your business plan, then to the later stages of scaling and growth, entrepreneurs must be prepared to navigate a range of obstacles and uncertainties.

This requires a combination of strategic thinking, creativity, and resourcefulness to overcome challenges and seize opportunities as they arise.

Moreover, failure can be a part of the entrepreneurial journey.

Not every idea will succeed, not every venture will turn into a profit, and not every risk will pay off. But it's how you respond to any failure that ultimately determines your success.

Instead of seeing failure as the end of the road, successful entrepreneurs view it as a learning opportunity, a chance to iterate (repeat), pivot (change direction), and improve.

Adaptability…

In addition to that resilience and collaboration, successful entrepreneurs possess a keen sense of vision and opportunity – always looking forward.

Adaptability is a hallmark of successful entrepreneurs. With our business landscape constantly evolving, mainly due to technology advancements, changing customer preferences, and global events, as an entrepreneur you must be open to change, possess the agility to adjust your route and spot the emerging trends to lead the way.

So, once you have your passion and idea in place, identify emerging trends, anticipate market needs, and capitalise on untapped opportunities before others are even aware of them.

Read as much as you can about your business by searching online. It’s vital to keep on top of what your industry leaders are doing, directions they’re taking. Listen to what they’re saying.

Look at what’s going on at the fringes of your enterprise as well, is there potential to develop there? Identify what could work, explore thoroughly and, if it’s the right thing, build it up.

Your business could change direction – it may have to – so be ready. Be the first, the leader.

Flexibility and resilience are the essential traits that will enable you to weather storms and emerge stronger when things go wrong. Not make you want to give up at the first hurdle.

Back-up plans…

Have a back-up plan, plan B, to fall back on if needed, but your plan C should always be what’s next?

The idea…

At its core, entrepreneurship is about identifying problems and creating solutions. Solving a need or challenge.

And every business starts with an idea.

It’s your passion that will then drive you forward.

In my book ‘I am Choosing my Options’ I explain how identifying your passion and purpose will lead you to the path of your highest potential. It gives hints and tips on how to pin down your passio so ask if your school or local library has a copy. If not, contact me.

Use the guide within it and nail down what will make you happiest.

Doing something that you’re passionate about will make the work worthwhile, you’ll enjoy yourself as you go and it may even not seem like work.

This is your starting point.

Giving back…

From there you move on to see how you can use that to provide a service to others, one that people are searching for, will want from you. This is your giving back, your purpose.

Identify a need and be passionate about wanting to fulfil it.

The advancement of technology…

In today's world, made so much smaller by technology, that same technology can play a pivotal role in shaping the entrepreneurial landscape.

The digital revolution has given access to a wide range of resources, enabling aspiring entrepreneurs to turn ideas into reality with minimal barriers to entry.

Research is easier, faster, and more comprehensive, you’ll know what challenges you’ll face quicker and even may be able to look up the solution!

Platforms such as crowdfunding, e-commerce, and social media have levelled the playing field, allowing innovators to reach global audiences quickly.

The personal touch…

However, while technology may assist entrepreneurship, it’s ultimately human ingenuity and determination that drives progress.

Behind every successful startup or groundbreaking innovation lies a story of perseverance, passion, and unwavering belief in one's vision.

The journey of an entrepreneur can be marred by setbacks, but it is through these experiences that resilience is forged, lessons are learned, and character is defined, and you’ll face the next obstacle stronger.

Business plan…

Now, having found your starting point, the next step is to work out a business plan – see my article on how to – and develop a website so people can find you.

Next, network - tell people what you’re doing and go for it. Hit social media and make it work for you.

Develop an elevator pitch – a few sentences that explain what you do and what you offer so, when people ask you what you do, you can tell them, not fluster thinking how to put it.

Practice the speech so it’s second nature – you never know what that one conversation could turn into.

Don’t procrastinate…

And, once you’ve found your starting point, it’s essential not to procrastinate.

Procrastination is the ‘I’ll do it when…’ thoughts that run through your head.

You can always find reasons not to start, saying it’ll happen when:

I have enough money

I have more time

I’ll wait for the next stage to evolve

it’s lighter in the evenings

And, sometimes, ‘when’ never comes.

The truth is that you may never be 100 per cent ready.

It’ll always be scary going out on your own but being afraid is a mind block you can overcome.

Note: as an older person, I can tell you that putting your life on hold is not good. Time is (just so) short. Ten years ahead looks like a lifetime but look back ten years – gone in a flash.

So, once you have your vision, your passion, and a drive to make a difference, don't be afraid to take the leap. Start your entrepreneurial journey and see where it leads.

Pacing…

Then pace yourself.

You need to know when you’re pushing yourself too far. Recognise when you need to take time out to rest.

No one can work 24/7 and no matter how passionate you are about your business. Without rest and time-out you could head for burn-out which will definitely be counter-productive if you become ill.

So, pace yourself.

Conclusion…

In conclusion, being an entrepreneur is a challenging yet incredibly rewarding journey filled with opportunities for growth, innovation, and impact.

Yes, it requires resilience, collaboration, vision, and sometimes a willingness to embrace failure as a stepping stone to success but the rewards are well worth the effort.

So, if you have a vision, a passion, and a drive to make a difference, don't be afraid to take the leap and embark on your own entrepreneurial journey.

Look at your passion, find your purpose and see where they can fit into the world to provide solutions. Then go for it.

Who knows where it will take you?

I’d love to hear how you’re getting on and, where possible, if we can help more.

Lastly, I wanted to both wish you luck and say that I know you can do it.

Success is within your grasp!