Entrepreneurship: Taking the Plunge

With the recession in full swing, major corporations showing huge losses, and people from all sectors losing their jobs, folks are looking for other ways to make a living. The idea of becoming your own boss and becoming an entrepreneur seems to cross peoples mind more often during trying times such as these. In fact, throughout history huge fortunes have been made in down-times.

Deciding to become an entrepreneur can be an overwhelming and exciting endeavor. When I bought my first business I had no idea what the hell I was doing. I thought passion for what I was doing would carry me through and I would figure out the rest on my own. WOW. Although passion is a crucial part, passion on its own won't put money in your pocket.

The first thing you need to be is smart enough to realize that you don't know anything and that your going to need help. The first thing I did when I came to that realization was to start reading. I read books on how to be successful in business. The first book I read was one that was recommended to me: E-Myth by Michael.E.Gerber, which radically changed the way I looked at business, how a business should be run, and that I was going to be out of business very soon if I didn't get a handle on things.

I went from a guy who hated reading to reading at least one book a month on my new profession of being an entrepreneur. So my first piece of advice would be to educate yourself before you do something stupid.