Be Your Own Boss
Be Your Own Boss
Are you tired of slaving away at a job you don’t like only to live paycheck to paycheck? Are you ready to take charge of your own destiny? Do you want to be your own boss?
Well, you’re not alone.
In fact, according to a survey released in May 2019, 57% of Americans dream of being their own boss and 65% would like to start a small business after retirement.
I’m willing to bet that if more people were honest with themselves those numbers would be even higher.
So welcome to the club!
It’s an exciting world out there, and there’s never been a better time to be an entrepreneur.
The great thing is there are so many options today to finding your niche and carving out your own piece of the American dream pie…
… But getting started can seem daunting.
Like all careers, your entrepreneurial venture will be the most fulfilling if it lines up with your values, passions and personality. If you dream of creating a job that you’ll look forward to every morning, you’ll need to understand what makes you tick… and build around that.
In our Money Revealed interview, Ryan Levesque shared four categories of entrepreneur that most people fall into. Finding which of these four best fits your situation can go a long way toward helping you kick-start a business that’s sustainable and fulfilling.
Let’s get right into it…
#1. The Mission-Based Entrepreneur
If you’re mission-based, you want to go into this because you’ve got a cause in your heart. The driving force behind what you dream of doing is a cause that you’re committed to.
Like Blake Mycoskie, the creator of Toms shoes, you want your business to address a need in the world while providing an income.
Create cash flow from a cause that gets your blood pumping.
#2. The Passion-Based Entrepreneur
These entrepreneurs are following their passions and turning them into vocations.
Think the drummer who starts a business building custom drum kits in their garage. The artist who opens a gallery. Or the healthy lifestyle aficionado who opens their own health food store (John Mackey of Whole Foods).
Look for something that’s important to you and turn passion into profit.
#3. The Opportunity-Based Entrepreneur
You notice a need in the market, a problem that no one else has solved. And you’ve got a solution that will fit in the gap that’s been waiting to be filled. Software developers, inventors and creative educators fit into this category.
For example, Wayne Fromm’s selfie stick has made millions by filling a need that developed with the popularity of cellphone selfies.
In our ever-developing world you’re bound to find a problem that you can flip into an income.
#4. The Undecided Entrepreneur
Not sure which of these you fit into? Then this is your category.
You know you want to be your own boss but you’re not sure what you’d like to do yet. That’s OK!
If you’re not sure where your passions lie, Ryan suggests that you consider a “practice business.” Find something you can do part time and try it out… this will help you hone in on what you really want to do.
Knowing which of Ryan’s four categories you fall under is a great first step in the direction of your dreams. And if you’re already on that road, it can help you focus your efforts and plan ahead.
As I said before, there’s never been a better time to be an entrepreneur! It’s an exciting journey that’s worth every step.
Ready for More?
Keep an eye on your inbox every weekday at 2:00 p.m. to continue on this journey with me…
Dr. Patrick Gentempo