The leap to starting your own candle making, skincare or soap making venture.
Many have had this dream. The urge is strong.
Why not turn it from a hobby into a full-time gig? You wonder to yourself.
The notion of running your own business is exciting!
After all, you can be your own boss, do what you love, invest in something you own, and have more flexibility.
What Exactly Is An Entrepreneur?
A entrepreneur is an individual who begins a new venture, and bears the financial risks and responsibilities in the hope of making profit and reaping rewards.
Do You Have What It Takes To Successfully Start A Business, Then Grow It Into Something Profitable?
While anyone can start a business, not all will succeed.
Until you can afford to go it alone, or hire someone else, you will need to work on your new venture on the weekends and in the evenings, plan your business with a strong road map, perfect your craft, identify your niche, and market, market, market.
You will need to manage uncertainty, and sell yourself. Business will not just fall into your lap.
Examine your motivations, and your own characteristics to ensure that this is the right fit for you - before charging ahead, making that leap, making that huge investment of your time and money.
If you’ve always worked for someone else, this might be a learning curve. Having said that, I've known entrepreneurs who began timidly, build confidence year by year and then hit the ground running.
Some Of The Traits That Make Entrepreneurs Successful: Shared Qualities And Behaviours
Does This Sound Like You?
Passion - You eat, sleep, and devour this business. It consumes you day and night. When you’re not working on the business, you’re thinking about it.
Drive - That extra hour before bed after a long day at your day job could be spent surfing on your phone or viewing TV, but you are working on or in your business. ‘Genius is 1 percent inspiration and 99 percent perspiration.’ - Thomas Edison
- Create balance - I'm not talking about being a workaholic here. Although your passion is inspiring, you know that the tank needs to be full to work properly.
- ‘The most valuable thing you can do is make a mistake - You can’t lead anything from being perfect.’ - Adam Osborne Resilience to failure - There will be set back along the way. That’s a given. People will be disinterested, the market may be saturated, deals will fall through, your products may not always be perfect. But none of that matters, it’s water off a duck’s back in fact. There’s no point ruminating on it, apart from taking lessons learned and moving on to the next step in the plan. You don't take things personally.
Good listener - You pick the brains of anyone you think you can learn from, and listen, listen, listen.
Curiosity - You play with ideas, research, and find a way. By wondering why, you'll be able to anticipate challenges and problem solve effectively.
Communicative - You find it easy to be with people, and enjoy bouncing energy and ideas off each other. Maybe not an extrovert but you put people at ease. Communication = sales ‘Selling is not a pushy, winner-takes-all macho act. It is an empathy led, process- driven and knowledge-intensive discipline. Because, in the end, people buy from people.’ -Subroto Bagchi
Energetic - What’s next on the list!
Determined - Defeat is not an option. ‘I have not failed. I have just found 10,000 ways that won’t work.’ Thomas Edison
Ambitious - You see great things for your future and aim high!
Self discipline - You get the job done, no grumbling, umm-ing or iff-ing. No complains. It gets done. Meet deadlines, avoid distractions. ‘Discipline is the bridge between goals and accomplishment.’ Jim Rohn
Persistence - It takes many sales calls to turn one prospect into a customer. You realise this, and persist until you make the sale. And then persist in keeping the customer happy.
Resourceful - Where there’s a will, there’s a way. You will enjoy pivoting your way around the obstacle. Find a solution, and the right one at that. It’s not a problem, it’s just a challenge. ‘One of the the only ways to get out of a tight box is to invent your way out of it.’ - Jeff Benzos
Confidence - You believe in your product, and you believe in yourself. If you don't, then no one else will.
You have a vision - You keep your eye on the end goal and don’t waver from it.
Can-do attitude - Your customer’s headache is your problem, and it is a joy to find solutions for them.
Fearlessness - There’s a comfort with risk taking, to reap the rewards. You can't predict how things will go, and that's okay. by you. You won't be ruminating in anxiety about it not working out. ‘A ship in the harbour is safe. But that is not what ships are built for.’ - John A. Shedd
The competence to multitask - One day you’ll be wearing your creative directors hat, on another your computer specialist hat, logistics expert, and every day you will be a sales and customer service rep.
- You're a big picture person - You aren't caught up in the minutiae.
Entrepreneurs Aren't Born. They're Made!
We all have the potential to be entrepreneurs. But is it what you want?
Keep it as a hobby or start a small business?
Blaze & Foam is now offering Private Business Workshops in person or virtually over Zoom.
If you need help working out whether to take your hobby to the next level, or if you are already an entrepreneur, you can choose to book in for a consultation.
Please share your experience of moving from hobbyist to business person.