The Pre-Entrepreneur Phase
I like to think of Entrepreneurship as a state of being rather than simply a title or label. This perspective allows for a deeper understanding of the complexities involved. In reality, you will navigate through various phases and experiences, such as the ones listed below, during your entrepreneurial journey. Each phase contributes to your growth and development as an entrepreneur.
The First Stage is known as the Pre-Entrepreneur phase. During this crucial phase, you are engaging in a thorough self-assessment, gathering valuable information, and setting your mind in the right place. Additionally, you are getting your finances in order and preparing yourself systematically for the journey ahead, which involves careful planning and reflection on your goals.
The Second Stage is known as the Self-Employed phase. During this important phase, you have taken the significant leap and officially started your own business. You might have secured your very first customer, which is an exciting milestone. Additionally, you might have taken the time to build a professional website and shared it with friends and family to generate interest. The key distinction in this phase is that no work is accomplished except by your own efforts. If you don’t work diligently, no money will be made, and consequently, no customers will be served.
The Third Stage, often referred to as the Business Owner phase, signifies a pivotal point in your entrepreneurial journey. During this critical phase, you have successfully taken the essential steps to establish robust systems around your business operations. This includes defining how to effectively sell your products or services, outlining procedures for delivering excellent service, and creating protocols for effectively handling customer complaints and processing refunds, among other important tasks. As a business owner, you now find yourself overseeing employees who assist you in the daily operations of your well-structured system. However, it is important to note that by adding employees into the mix, you have inadvertently also increased your own workload. While the business may operate smoothly for short periods, it would face significant challenges and ultimately fail if you were to unexpectedly go missing for an extended duration, such as two months straight.
The final Final Stage is where you reach the critical and defining phase of becoming a successful Entrepreneur. To effectively and successfully reach this important phase, you have typically hired additional individuals who are well-suited to manage the various employees you initially brought on board to operate your established machine, and these managers have been granted full autonomy to resolve any issues that may arise independently and efficiently. When you have effectively reached this empowering phase, you are usually fully prepared and equipped to begin growing your business by adding new locations or expanding your offerings with innovative new products and services that meet the needs of your customers.
The key to understanding and navigating these phases effectively is not merely the length of time it takes you to progress through these stages, but rather the significant achievements and insights you gain in each one.
The Pre-Entrepreneur phase is critically important for first-time entrepreneurs embarking on their business journeys. It is indeed quite challenging to start a venture with little to no capital available for investment. Additionally, determining if your business idea is truly unique becomes difficult if you haven’t conducted any thorough market research to validate it. Furthermore, if your mindset remains stuck in a student mode of thinking, you may find yourself endlessly searching for the elusive “right” answers, when in reality, no such definitive solutions exist in the dynamic world of entrepreneurship.
At Make 1K More, we are dedicated to helping entrepreneurs, regardless of the phase they are currently in or the various challenges they may confront along their journey. If you are considering starting a business but are unsure about where to begin, then Make 1K More is the supportive community you have been looking for. We invite you to join us and take the first steps towards your entrepreneurial aspirations.