How to Become an Entrepreneur: 7 Steps You Need to Take to be Successful in Business

Becoming an entrepreneur is about planning, strategy, and execution. If you’re unsure on how to get started, we’ve created this video as a jumping off point.

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For so many of us, becoming our own boss is the ultimate dream. We crave the creative control, flexible hours, and freedom that come with being an entrepreneur.

Getting into business for yourself can be fun and exciting. It can also be daunting and difficult. First, ask yourself if you’re willing to start a business for the long term. Though the prospect of being an entrepreneur might feel exhilarating at first, growing a business takes time. Are you ready to commit to this for the next several years?

New businesses have a high failure rate. Aspiring entrepreneurs have to cast aside the safety of a stable paycheck and day job and take the highs and lows in stride. It may take some time for your business to be profitable. That said, entrepreneurship is rewarding—just know what you’re getting into.
Entrepreneurship has advantages that, for many people, outweigh the negatives. Small business owners on Shopify tell us there are aspects of running their own business that they’d find hard to get elsewhere. Particularly, being independent and controlling their own time.

So here is how to become an entrepreneur:

00:00 Introduction
00:35 Know what challenge you are solving
02:47 Do customer development
04:23 Determine your burn rate and runway
06:15 Start with a minimum viable product
08:18 Don’t go fishing, find the waves
10:00 Design processes and systems
11:25 Live the phrase: Always a student

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► How to Become an Entrepreneur: 7 Steps You Need to Take on the Path to Entrepreneurship

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