So you want to be an entrepreneur. Of course you do.
The working world has changed. Long gone are the days where we fantasised about working for big organisations, with marble floors and oak desks. Or felt fulfilled with the more realistic Mondeo company car, and scrutinised expenses.
The dream has changed, and it’s blown the glass ceiling clean off. The internet has presented access to every market you could ever wish to explore, and it’s not local, it’s global, all at your fingertips! ‘What a time to be alive’ I hear the millennials cry.
So you’re after your slice. Perhaps you have a brilliant idea, one you’ve been thinking about while you brush your teeth, and daydream about in boring meetings. Maybe you secretly have a spreadsheet open on your desktop right now, the one you made whilst you were supposed to be increasing the profit margin for the people you actually work for.
Yet, you stumbled across a problem, the mother of all business problems: funding.
I know this because I’ve been there. More than once in fact. I’ve earnt other people lots of money, but always come out worse for it somehow. I didn’t seem to fit their mould. I knew I needed/wanted change, yet I accidently discovered this solution. Not out of intelligence or design, but because I had no choice; it was make money, or not be able to pay my bills. As is life at times, a cruel mistress.
Anyway, the solution is incredibly simple. But perhaps you’re like me, and it hadn’t occurred to you.
The answer is this – you don’t need an investment. You especially don’t need a business loan. You just need to sell something.
I bet you just scoffed thinking what an anti climax. But honestly, think about it for a second. In fact, think about these three things.
. What is your product? It should be amazing. The key to finding this out is asking yourself ‘would I recommend this to a family member?’ if not, it’s not good enough.
. Will your chain of supply work? This is obviously more straight forward if you are/entirely provide the product. But don’t worry if not. It just needs to be clean. Know exactly how you’re going to get the goods to consumer.
. Lastly, do you have evenings/weekends/free time during the week? Now this is the real question, this boils down to how bad you want it. It’s easy to say ‘I just don’t have time’, this frustrates me more than anything. Make time. If you’re genuinely working 24/7 for someone else that’s illegal, and you need to speak to the authorities about that. Otherwise, you have time, you just need to prioritise it.
Believe me, the best (and happiest) start ups fund themselves. Via the sale of the product/service. Generate leads, follow them up, make the sale, and reinvest the profit. Use the profit to gain more leads, increase brand awareness etc. Then repeat.
This isn’t rocket science, but it is vital. Don’t let a lack of funding hold you back from achieving your goal, and getting your great product out there. There’s enough room out here for every entrepreneur, so don’t settle, re focus and make it happen.