“Find something, found something, or fund something.” – Bob Shank

Recent news stories point to improved job prospects and increased pay to go with them. This is encouraging if you have the credentials (read: degree and/or certification) your prospective employer is looking for, but what if you don’t?

At a recent convention I attended, I heard a keynote speech that inspired this post. I’ll share more of what I learned from that talk in Part 2, but first I want to encourage you to become an entrepreneur. Instead of waiting for someone to hire you, why not start your own company and be the boss?

Let’s be clear: I’m not suggesting that you pull a Costanza and make up a Vandelay Industries. Nor am I talking about falling into the trap of turk work and setting yourself up for obsolescence. Instead, I mean that you should develop a product or service and the plan for delivering it — and then you should deliver it as profitably as you can.

Make your own luck

Let’s talk about the upsides, starting with creating your own momentum and your own luck. Now before you think there’s this mystical force our there called Luck that runs parallel to God, let me clarify. What people call luck is actually the meeting of preparation and attention. When you’ve done the homework and acquired and/or mastered the knowledge of your marketplace, you’ll harness the positive power of confirmation bias. As I’ve written before, when you drive an old Volvo, you start to see them everywhere.

When you’ve developed expertise in your chosen market, you’ll see opportunities everywhere. Then, if you’re confident and diligent, you’ll pursue the more promising opportunities. And if your preparation includes the cultivation of some selling skills, you’ll close some business. Then people will consider you lucky.

One man from my hometown used to like to say that the harder he worked the luckier he got. I got it back then, and I still remember it. I also appreciate the saying attributed to Thomas Edison that goes like this: Opportunity is missed by most people because it is dressed in overalls and looks like work.

Be your own boss

Becoming an entrepreneur has another huge upside: you are your own boss. Unless you’re also highly self-motivated, that’s also the downside. Every day, you’re going to have to summon your motivation, your desire to get things done or they won’t get done.

By the way, this is the same skill you need to manage your career, as I discussed in this post.

But… It takes money

Yes, it’s true that you have to have some money to get started, but not as much as you may think. For most entrepreneurial enterprises, you aren’t going to need your own skyscraper and helipad — at least, not at first. Some people with landscaping businesses started with not much more than a lawnmower and a willingness to sweat. Other people have figured out how to open online stores on a shoestring budget. Web domains are very inexpensive — and there are lots of free tutorials that can help you design your website and launch your business.

Chris Guillebeau wrote a book called The 100-Dollar Startup. You may find just the idea you need there.

Be prepared to learn

There are lessons everywhere, many are free. There are online publications, podcasts, and webinars devoted to entrepreneurship. There are books on management and leadership in your public library (you do have a library card, right?). And there are local entrepreneurs who want to share what they know. But reading and discussing aren’t the only sources of lessons.

In the kicker above, I said you should expect to fail. This is because you will likely fail in your first attempts at entrepreneurship. Many times. Failure can bruise your ego, but it is also a rich mine of hard-won knowledge.

This is one reason why silicon valley types talk about failing faster. This means you should embrace the probability and learn to shrug off the sting of failure in order to acquire the lessons that will come through the failure and keep going. Author, speaker, and success coach Michael Hyatt says it this way: “In my world there is no failure — only learning.”

Success comes from good judgment…

I know I’ve quoted him before, but Arthur Jones, the eccentric creator of Nautilus Fitness equipment used to say, “Success in life comes from good judgment. Good judgment comes from experience. Experience comes from bad judgment.” I hope you see that to make your way in the world and provide for yourself and your household, you will have to endure some seasons of suck. Don’t let it throw you — you’re learning.

Congratulations, You’re a Technician

One lesson that arrived for me fairly recently was in Michael Gerber’s book Beyond the e-Myth. Gerber says that if your enterprise can’t function without your hand on it, you’re not an entrepreneur — you’re a technician. He prescribes the creation of methods and systems that will enable you to delegate the functions of and to increase the scale of your business.

A business has products and is a product

The last bit is important because in addition to having products, a business is a product in itself. If you’re truly an entrepreneur, you’ll enjoy the thrill of the launch, but become bored with the operations side of things. In that case, you’re going to have operators who can implement your systems, or you’re going to need to find a buyer who’ll operate what you’ve built. You can make money either way, but the key is to work on your business instead of just working in it..

Coming up

We’ll talk about insights I gained from that keynote address.

So how about you? What’s preventing you from becoming an entrepreneur? What do you have to lose? Add your comments below.

Note: I have linked to a couple of books on Amazon. I do not receive any compensation for doing so — these are two books I have bought and read and I am comfortable recommending them.