How to become an entrepreneur and make money from scratch

Becoming an entrepreneur is the dream of many workers who want to start their own business, with the aim of being independent and making money from scratch.

An entrepreneur is a professional figure with different skills that allow him to manage and lead a company or startup to success . A further definition of entrepreneur can be identified with:

A person who creates a business with the aim of making a profit .

In general it is easy to understand what the figure of the entrepreneur consists of, but the real challenge is to understand how to be able to dress in his shoes. 

In this article I will explain what the characteristics of an entrepreneur are, what not to do and how to become an entrepreneur and make money from scratch .

What are the characteristics of an entrepreneur? 

All entrepreneurs have typical characteristics that distinguish them from others. It is not about notions that can be studied, but about competences and soft skills that are learned with life experience or even that are completely innate. According to several studies carried out by American universities, there are 7 typical characteristics of an entrepreneur .

  • Tenacity : even in the face of adversity or failure, the entrepreneur does not give up and perseveres, learning from their mistakes. 
  • Passion : it is mistakenly thought that an entrepreneur thinks primarily of money. In truth, the entrepreneur is driven by his passion for his business, in which he blindly believes. 
  • Self-confidence : this is a key entrepreneurial characteristic , which allows you to take and face risks, precisely because of the trust you place in yourself and in your business.
  • Flexibility : Being flexible and adaptable is essential to become an entrepreneur . If something doesn’t work, study an alternative and change direction.
  • Risk management : knowing how to manage fear and take risks is the daily bread for an entrepreneur. The uncertainty of tomorrow and potential failure are always around the corner, you simply need to be able to endure and tolerate these situations.
  • Different vision : in entrepreneurship knowing how to see or imagine opportunities that others do not see is one of the most peculiar traits. Entrepreneurs are curious and are always looking for innovation. 
  • Rebellion : an entrepreneur can often break the rules . It can happen by launching a new company that doesn’t exist on the market, or by applying what most others don’t take into account.  

What shouldn’t an entrepreneur do?

After having seen which elements characterize an entrepreneur , it must also be said that there are some things that an entrepreneur absolutely must not do

  • Do not believe those who tell you that you will not make it , your determination is the key to making you overcome every obstacle.
  • Don’t be guided by common opinion , always think outside the box.
  • Don’t surround yourself with demotivating people , let them go because they could negatively affect you.
  • Do not fail to honor the agreements , therefore, always keep the commitments made and a certain ethics.
  • Do not let yourself go into negative thoughts , on the contrary, always try to have a positive and pro-active attitude.  
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How to become an entrepreneur: 6 steps to start from scratch

Becoming an entrepreneur and making money from scratch is not easy at all. 

To become an entrepreneur you need skills, commitment, dedication, a spirit of sacrifice and money resources, and you can also take two different paths:

  • become a freelancer (i.e. a freelancer);
  • open a business such as a company or an innovative startup .

In any case, if you have really decided to become an entrepreneur from scratch , I recommend that you follow the following 6 steps.

Find a business idea

To become an entrepreneur you will need a business idea , therefore, you need to set up a project that is right for you. 

A business idea can be about what you do best . If you have done a certain job until recently, you can start from there and put the skills you have acquired into play.

You can also get inspiration from what successful companies do . You will certainly make use of products or services of a particular brand, as happens to a little bit of everyone. Study how that brand behaved and try to replicate it by putting your personal touch on it.

At the same time, you could come up with a product or service to solve a common or niche problem . This is perhaps the most insidious and risky path, but if you believe you have an innovative idea , you can improve people’s lives and lead your startup to success.

If you have a clear startup idea in mind and want to start it without having to wait years, I recommend that you rely on the From Zero to Startup program ! This is a 3-month incubation process that will make you understand if your idea or startup has potential.

Frame your target

Always remember that you will not be able to satisfy anyone, therefore, you must necessarily frame your target . Learn as much as you can about your potential customers : what’s their age? Where they live? Are they men or women? What income year and what ethnicity do they belong to? 

The more detailed information you have about your buyer personas , the greater your chances of attracting their attention and satisfying their needs

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Observe your competitors

In most cases, something similar to your business already exists on the market, which is why it is necessary to study the competitors to get a first screening of your project.

By observing the competitors on the market, you can understand what the strengths and gaps are , so as to replicate the former and improve the latter.

Don’t just observe the Italian market and also take a look at the international market. 

Organize a business plan

Always write down the best ideas and organize a business plan to get more clarity on what to do. By sorting and writing your ideas and observations, you can make your business project sharper and more real. Within the business plan, explain exactly the idea with which you want to become an entrepreneur and enter:

  • competitor analysis;
  • the reference market;
  • the product or service you intend to offer;
  • marketing strategies;
  • the financial plan.

Subsequently, the business plan will also be essential to convince future investors to finance your project , so do not underestimate it and take care of it.

Build your network

Another fundamental step in becoming an entrepreneur is to build a network of relationships capable of spreading your idea.

In this case, strategic figures such as communication agencies, consultants, investors, quality suppliers and many others can come in handy. Do not limit yourself and make yourself known in the reference sector by participating in events, online webinars or creating strategic partnerships.

Spreading the word and giving life to the so-called word of mouth is essential to make money from scratch

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Test and launch your business idea

Your job as an entrepreneur is to convince customers that your product or service is the best choice on the market and can solve their problem. To do this you must first launch your product / service . You can start, for example, by offering it for free, or by putting a discounted price for the first limited number sales. No matter how you start, the important thing is that you do it. 

If yours is a good idea , the first customers will speak well of it and begin to put word of mouth into practice. By doing this, your idea will spread and depending on future feedback you can correct it if necessary or you will even find other people willing to invest money in your project .

I hope this article has given you all the information you need on what the characteristics of an entrepreneur are, what not to do and how to become an entrepreneur and make money from scratch

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