The Entrepreneur Game Plan

From Wikipedia, the free encyclopedia - An entrepreneur is a person who has possession of a new enterprise, venture or idea and is accountable for the inherent risks and the outcome.

The entrepreneur is the self employed or a small business with no employees in most cases. As an example, a Realtor® is a small business without employees and certainly is an entrepreneur. The entrepreneur that grows a company to astounding levels is a great read but not the typical. In most cases the entrepreneur is on an island without financial backing and without the umbrella coverage of government. But they have a marketable service, talent, or idea.

2011 will be the year of the entrepreneur and this week, I will post general ideas to assist you as your entrepreneurial spirit continues to flourish.

1. Are you really an entrepreneur that can stand alone or are you someone that must rely on someone else to generate a salary for you? This basic question will help you understand your comfort zone. Are you ready to take a risk to generate a living for yourself and your family?

2. Where do you get financial help as you implement your business plan and before generating an income? As an example, a new real estate agent will not generate viable leads, negotiate a deal and achieve their first closing within their first six months. However, the real estate agent will spend money to generate business, stay in business, and maintain their license.

Do you have the personal financial resources to sustain your standard of living during the launch of your business and until an income stream is achieve?
Do you think a Small Business Administration loan or bank loan are available to entrepreneurs?

3. If you believe you are suited in an entrepreneur and small business role and if you have the financial resources available to sustain a living until your business is launched and marketed, the entrepreneur career has many advantageous and only one person can modify the results – you.

Remember, there is no unemployment insurance, you have to pay your own health insurance and you are not a government statistic. You are on your own except you have millions of entrepreneurs to learn from.

4. Now that you are ready --- prepare your business plan. My suggestion is to complete 3-business plans. The first should concentrate on the first six months of business and the second plan outlines the next 6-month period. The last business plan will be a long term outline of your goals and objectives.