To succeed in transitioning from employee to entrepreneur path is rocky and more risk driven than that of an employee. Making that mental switch from employee to entrepreneur can help you.
Along the way, the entrepreneur becomes more strategic than operational and worries about adding value to his company rather than solving day-to-day problems.
There is no established average time to make the leap from employee to entrepreneur. Once a business has managed to sustain itself in the market and challenged the figures that indicate that, in the US, 75% of the enterprises fail after two years. According to The Institute of Failure, the research area of the startup Fuckup Nights, which attempts to promote entrepreneurial success from failure stories.
In the country “there is a little percentage of the success of the companies, maybe it could be one in a hundred,” says Gabriel Meizner, investment manager at Adobe Capital, investment fund, and business accelerator. Sustainability depends on to a large extent on the perseverance of the entrepreneur and that the product or service offered is unique and differentiated, clarifies.
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In this way, “failure is a real incentive to evolve and change vision. The entrepreneur is maturing and finding a work team “with which he can grow his business,” says Juan Manuel Alvarado, managing partner of the Founder into Funders.
The route for an entrepreneur to become an entrepreneur is sometimes longer for some than for others. “Some companies have seven years of experience and are still small, but there are others that in less than two years grow to be bigger companies,” says Meizner.
According to experts, to take a venture to another level at least must go through the following steps.
Step one: Learn to work as a team and to delegate
For Alvarado becoming an entrepreneur requires acquiring new skills both professional and personal. The expert, who was recognized in 2008 as an entrepreneur Endeavor, believes that once the company is working, the entrepreneur must become the director of his business and become an expert in this task, which involves the fact of learning to delegate.
Training the right equipment is essential. When hiring a collaborator, you must choose the person most qualified for the position, whose skills will grow the enterprise and take it as an investment and not as an expense. Well, while “the entrepreneur is surrounded by people who know a lot about the business; The entrepreneur meets with people who can complement it, “says Alvarado.
Also, at this stage, “investors, mentors, and accelerators are different players who help the entrepreneur on his way. That consulting network allows you to land all the ideas to execute them based on the experience that each one has, “adds Meizner.
Step Two: Expand Business Vision
Once the previous step is overcome, the entrepreneur no longer has to worry about thinking about hiring the internet, the equipment of the office or the selection of staff, since these activities are no longer carried out by him but by his collaborators, he affirms Alvarado. Now, the future entrepreneur – who knows how to delegate – must worry about having more control over the results of his team.
Meizner, is confident that “the condition to grow is that the entrepreneur knows his business very well and knows how to communicate it clearly to sell it to someone else.” In this step, you must understand what goals you want to reach and in this way plan the concrete actions that will lead to achieving them.
At this point, the entrepreneur becomes more strategic than operational and worries about adding value to his company rather than solving the problems of day to day and, thus, anticipate those that could arise.
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In short, “the entrepreneur has a more short-term vision, while an entrepreneur can make projections of five to ten years,” Meizner stresses. In other words, “the entrepreneur sees a tree in front of him and the entrepreneur is able to see the whole forest,” agrees Alvarado.
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However, says the Founder into Funders expert, it must be considered that not everyone who starts business dreams of being an entrepreneur. “Some entrepreneurs never make the leap because they decide to do it. Not all companies will have billions of pesos placed on the stock market because they are satisfied with their level of billing. ” Everything depends on the objective pursued.