What it Really Takes to be an Entrepreneur

“When things get too complicated, it sometimes makes sense to stop and wonder: Have I asked the right question?"

Enrico Bombieri

What does it take to start your own business? Less than you think…

  1. Create something other people want or need. (If you don’t know, test ideas in low-risk ways until you find something that works.)

  2. Attract the attention of prospects, and make them interested in learning more about what you’re offering.

  3. Encourage your prospects to trust you enough that they give you money in exchange for your offer.

  4. Deliver the value promised in a way that makes your customers happy.

  5. Collect more money than you spend, and enough to sufficiently compensate you for the time/energy/money invested.

That’s it. Those are the Five Parts of Every Business. Anyone who tells you entrepreneurship is more complicated than this is either trying to impress you or sell you something you don’t need.

What’s holding you back from getting started right now?

Published: April 10, 2011 Last updated: April 10, 2011

I Enjoyed This Post
Read more essays by Josh Kaufman →

The Personal MBA

Master the Art of Business

The #1 International Bestseller, Revised & Expanded. A world-class business education in a single volume. Learn the universal principles behind every successful business, then go out into the world and make your own. More →

The First 20 Hours

How to Learn Anything… Fast!

A practitioner's guide to rapid skill acquisition. Accelerate your learning by deconstructing complex skills, practicing the most important elements first, and removing barriers to deliberate practice. What do you want to learn? More →