The year 2020 came along to change everything, it turned everyone’s life upside down and forced us to change the way we understand life, both personally and professionally. Millions of people around the world became unemployed and many others were forced to move all their work home, reducing their workspace to a small room or a corner in the living room. However, for those people who lost their jobs and the Internet did not allow them to continue developing their professional activities from a distance, life became much more difficult and they were forced to rethink their future and start a new path from scratch.
And although in a world without Covid-19 the idea of creating your own business and venturing to create everything on your own and not depend on anyone else was already a very complex project and not everyone was brave enough to carry it out, after the pandemic that fear of risk has faded and more and more people believe that being their bosses is the best and only alternative for the future right now. The pandemic has meant that everything we thought was secure has ceased to be so and that the job of a lifetime, whether it was a family business or a permanent position in a prestigious factory, has ended, leaving us with no income and the uncertainty of not knowing what will happen the following month.
However, although many people are clear about the idea of entrepreneurship and have a good idea to do so, they do not know how to put all these ideas into practice and create an effective business project that in the long term can give them economic stability and a peaceful future for their family. The insecurity of not knowing if the idea you have in mind, together with the lack of professional advice and a business guide that will show you the best way to make your entrepreneurial project work, makes more than half of future entrepreneurs fail or not even try.
For all these reasons, and intending to serve as a guide to all the people who are thinking of starting a business and betting on their ideas, we are going to explain the three best tips that according to the real estate magnate and prestigious investor Emma Madison, any person who wants to be their boss should follow to be able to do it correctly and with all the guarantees of success. Insecurity, lack of external support, not knowing all the available options, or simply not knowing what is the first step you have to take, are some of the many things that we will help you solve below.
Do you want to know all the keys to be a successful entrepreneur?
The keys to becoming an entrepreneur in difficult times
Don’t be afraid of being criticized: trust your instincts
As Madison explains, one of the first obstacles we will have to deal with is criticism, the prejudices that many people around us, especially those closest to us, will have about our plans, and that will possibly make us feel more insecure. “The best time to create your business is just the moment you think of it because once you come across that thought and believe in it with all your strength, every step you take forward-thinking about your project will bring you a little closer to your goal,” says Madison, and the truth is that there is nothing more powerful than an idea making sense in our head and our heart.
Most entrepreneurs will have to deal daily with comments that question their project and make them feel like real failures. “Invest your time and money in something really useful”, is one of the statements you will hear most often on your way to success. But why should others be right and not me? If you believe you can do it and you feel that you are passionate about what you are doing, go for it and forget about external comments.
Emma Madison also had to fight against the prejudices of friends and colleagues who wanted to intimidate her illusion and who wanted to see her fail in her attempt to become a successful woman, however, they could not and today she is one of the most influential women in the world of investments and the real estate industry. Could she have made it if she had listened to everyone who told her it was a bad idea? No, she would have stayed with the life she was leading and would never have known the satisfaction that comes from taking a risk for what you are passionate about and making all your dreams come true.
Now, just because you have a good idea and a great desire to put it into action does not mean that you have to act hastily and without consulting your plans with people who can help you. And although we want to do everything alone, we do not have to do everything without help and if we want to succeed we will need the advice of real experts in the field to provide us with their point of view and advice.
With this Madison is telling us that to achieve our dream we do not have to refuse to listen to the opinion of others but learn to distinguish good advice from mere criticism. Listening to those who want to help us will always make us wiser and bring us closer to our goal of entrepreneurship, do not forget it.
Want to turn your side hustle into your job? First, put it to the test.
More than 60% of people who are thinking of becoming entrepreneurs and creating their own business do it from one of their side hustles, more commonly known as hobbies that we only do because we like them and not because they provide us with some kind of economic benefit.
For example, many people have spent half their lives painting pictures or making ceramic pieces in their homes that they only show or give to their family and friends, but at some point in their lives and after verifying that what they do is liked by a wide audience, they decide to turn it into something more than a hobby: they decide to bet on their passion and turn it into their main source of income. Now then, is any secondary activity valid to become our project for the future? No, first you have to test its effectiveness within a small investment group and then assess whether taking a risk with that idea is feasible or not.
Madison knows a lot about this since she wanted to transform her business idea into something much bigger in a fast and risky way, which led her to invest a lot of money in something that needed more time to start giving benefits. The result was a year full of losses and disappointments, but it also taught her that not all business ideas develop in the same way, even if they have the same strength in our hearts, because the business world goes beyond emotions and investments require the hand of a professional to guide us in every step we take.
Therefore, Emma’s advice to those who are now reading this article is to take it easy with your business project. There are great companies that needed more time than usual to succeed, which does not mean that they did it wrong, but that everything that surrounded that project from the beginning needed greater development and at a slower pace to be able to have the desired success.
The best thing you can do if you want to transform your hobby into your job is to show it to a small number of investors so that they can assess its effectiveness in the market in the short term and try to make profits little by little while you continue with your other work. Then, if luck is with you and your project is successful, you can invest in a big way and launch yourself into the adventure of entrepreneurship and being your boss.
Put passion into everything you set out to do
The last piece of advice Emma Madison has for us, and perhaps this is the most important and the one we should never forget, is to put passion into everything we do. “If you are going to do something and you want other people to invest in it, first show them that your interests in that business go beyond the numbers and the profits. In other words, if you want to convince someone to invest in your company, you will have to show them that you are passionate about what you do and that there is a compelling reason that leads you to create that business.
And that is possibly the best advice you should remember before, during, and after starting your own business: Do everything with your heart and success will come later. Because when we only do something for money it shows and those who look at us will not want to invest in an empty and heartless project, they will want to notice that the person who leads the idea believes in his ideas and is willing to do everything to make them come true.
“Success is not final; failure is not fatal: it is the courage to continue that counts.” – Winston Churchill
“Business opportunities are like buses, there’s always another one coming.” – Richard Branson
“Every problem is a gift—without problems we would not grow.” – Anthony Robbins