As an entrepreneur, there are two key decisions that you must internalize, according to Dan Sullivan, the founder of Strategic Coach and a mentor to my own coach. These are insights that have been gleaned from years of working with entrepreneurs and are essential for anyone looking to venture into the entrepreneurial world.
Firstly, you must be willing to take complete responsibility for your own financial success and security. The entrepreneurial journey is a solo endeavor, and you cannot depend on anyone else, be it an employer, the government, or an institution, to guarantee your financial stability. This means being proactive in finding opportunities, mitigating risks, and always finding ways to increase your value and earnings.
Secondly, you must understand that you won't get paid until you first create value. Being an entrepreneur is not about making quick money, but rather about providing a valuable product or service that consumers need or want. The idea of making yourself useful to the consumer is a guiding principle that should inform every decision you make as an entrepreneur.
Adding to these two realities is a harsh, but crucial, fact to remember: Even if what you have to offer as an entrepreneur makes perfect sense in your mind, on paper, and even in the marketplace, the bottom line is that unless there is a buyer willing to write a check for it, your product or service is essentially worthless. This underscores the importance of not only creating value, but also effectively communicating and demonstrating this value to potential customers.
