What is an entrepreneur? We see many definitions.
A short one I like best is this.
An entrepreneur is defined as an individual who founds and runs a small business and assumes all the risk and reward of the venture.
It doesn’t have to be an individual. In home businesses many couples work together. Sometimes one starts the business and then their spouse jumps in when needed.
In a home business an entrepreneur assumes all of the risk with the hope of making money soon. Many never do and there are reasons for this.
What Bizzy Boomers loves about the Internet is how many entrepreneurs are succeeding. This includes a large number of baby boomers like you and me who had a need and a desire to make more money and chose starting a home business to make that happen.
To make sure you do not become an entrepreneurial failure here are a few things to keep in mind!
1. Read books. I think reading books from other entrepreneurs is important because it will give you insight into what is going to happen to you.
Here is a good list to choose from. 10 Best Business Books Every Entrepreneur Must Read in 2019.
2. Manage your money. Are you good at budgeting. Many people have a problem with this when they first start.
There is no doubt you will have money ups and downs. Every business does.
Your ability to manage your money in good times and bad is important. Mint.com may be a good resource for you. The Cash Cow Couple is a cool website too!
3. Are you a problem solver? When you are an entrepreneur you will have problems pop up that need solved.
You will not have the luxury of leaning on a big staff to help you solve problems. Joining an online community can be a big help, but learning how to solve problems is key!
4. Do what you love. We see this covered a lot in picking a niche to get into.
If you have a passion for your business it will never seem like work. If you can hardly wait to get started everyday chances are you are in the right business.
5. Time management. Many baby boomers still work when they start their business.
You are going to have to become very good at time management. If you are already retired you don’t want your business cutting into your leisure time.
There are all kinds of tips about time management online. Here is a good article 11 Time Management Tips That Work.
6. Solve a problem in the marketplace. There is no better way to become a successful entrepreneur then to have a product of service that solves a problem.
This way you do not have to create a need. The need is already there.
Being entrepreneur is going to happen for many baby boomers out of need or out of love for something! The good news is you can learn how to do it profitably and easily with resources like Wealthy AffiliateWealthy AffiliateWealthy Affiliate which Bizzy Boomers highly recommends.