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Emily
Student
Elk River, Minnesota
1
Question
Asked
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How do you become an entrepreneur?
I want to start my own business and have a business plan written out. But I don’t know where to start with investors.
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1 answer
Theophilus Mensah
Discovery Intern @Deloitte |2x Founder | TMCF Scholar | Business + CIS @ GSU | Harvard ALP 25’
71
Answers
Grambling, Louisiana
Updated
Theophilus’s Answer
Hey Emily,
From my experience, being an entrepreneur is really about a few things:
1. Finding a solution to a problem that exists and turning that solution into something that makes money. That’s what most startups do.
2. Coming up with a new or unique way to solve an already-solved problem. You can take something that exists, make it better, and compete in that space.
3. Capitalizing on your passion or what you love to do. It could be your God-given talent, a hobby, or just something you can’t stop thinking about.
4. And sometimes, it’s about purpose. Like running a nonprofit that solves a problem and impacts people’s lives.
So, it really depends on what you want to do.
But here’s the thing. I know it’s tempting to start thinking about investors early, but that shouldn’t be your first focus. Focus on building something first. Start small.
Not every business needs investors right away. For example, when I started my skincare business online 6 years ago, I didn’t have any investors. I started by getting pictures of products, advertising them, and using the profit from my first few sales to reinvest and grow. It was hard, but slowly I got there.
The truth is that you only learn how to manage a business by having one. So don’t wait for funding to start. Just start. Build something, learn along the way, and when investors come, you’ll already have something solid to show them. Wishing you all the best!
From my experience, being an entrepreneur is really about a few things:
1. Finding a solution to a problem that exists and turning that solution into something that makes money. That’s what most startups do.
2. Coming up with a new or unique way to solve an already-solved problem. You can take something that exists, make it better, and compete in that space.
3. Capitalizing on your passion or what you love to do. It could be your God-given talent, a hobby, or just something you can’t stop thinking about.
4. And sometimes, it’s about purpose. Like running a nonprofit that solves a problem and impacts people’s lives.
So, it really depends on what you want to do.
But here’s the thing. I know it’s tempting to start thinking about investors early, but that shouldn’t be your first focus. Focus on building something first. Start small.
Not every business needs investors right away. For example, when I started my skincare business online 6 years ago, I didn’t have any investors. I started by getting pictures of products, advertising them, and using the profit from my first few sales to reinvest and grow. It was hard, but slowly I got there.
The truth is that you only learn how to manage a business by having one. So don’t wait for funding to start. Just start. Build something, learn along the way, and when investors come, you’ll already have something solid to show them. Wishing you all the best!