How People Become Entrepreneurs Today

To understand this article, Read ''What Exactly is an Entrepreneur And How Do You Become One Today?''

Considering that “part-time entrepreneurship” is now more common than it once was, it’s no longer necessary for you to quit your job to start building something on the side.

Many Shopify store owners run their businesses part-time, during evenings or on the weekend, eventually going full-time if they choose to. Some have a physical location for their store and others operate entirely online.

Businesses can now exist in a variety of forms that just weren’t possible before. So naturally, people are starting them for a variety of reasons.

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Build a business around selling products and proving value.

Many entrepreneurs identify an opportunity and then capitalize on it. If there’s demand, they become the one with the supply. Being passionate about the product helps but it’s by no means a prerequisite.

All you need is to be passionate about business, competition, and creating systems that create value, either as a side business or something that replaces your 9 to 5.

Example: Syght Glasses

Build a business around information and empowerment.

The “infopreneur” is typically a teacher who sells information via courses, templates and other resources usually geared towards educating and empowering their audience.

Example: Copyblogger

Build an audience and then build a business around it.

Once, the only way for an artist to survive was to have their work sponsored by a wealthy patron.

Today, creators—writers, vloggers, musicians—build audiences around their talents and cleverly create businesses around them with merchandise, book sales etc. The “patron” is now their audience.

We don’t often look at them that way, but books are physical products and music downloads can be a digital product. If you’re selling these, you’re running a business.

Example: Wait But Why

Build a business around your craft.

The maker applies a specific craft they’ve honed in order to create physical products. Usually a hobby or a past time, they’ve learned how to unearth niche audiences with an interest in owning what they create—whether necklaces, hand-crafted furniture, or scented candles.

This often starts out as a hobby before you find your first customers and decide to become an entrepreneur.

Example: JM&Sons

Build a business around providing services.

This group includes agencies, consultants, freelancers and people with skills or expertise that others need. They might start off alone, only able to make money when they work, but they can develop into more if they want.

Example: Shopify Partners

Build a business around a better way of doing things.

There’s always room for improvement. There are always needs and pain points that have yet to be satisfied.

This is the story behind many tech company founders trying to realize their vision of a better way.

It can also be built around a product or service that you want that simply doesn't exist. Not yet.

Example: Uber

Build a business around social responsibility.

Some entrepreneurs use business as a means of creating a sustainable living that improves the quality of lives through social enterprise. Outside of profit, the value they seek to create is for those in need.

Example: LSTN

These are only some of the intrinsic motivations that lead people down the path of entrepreneurship. It might even be some combination of reasons that inspires you to start a business.

The reasons might be unique to each person, but there are two qualities all entrepreneurs share.

Two Things All Entrepreneurs Have In Common

The word "entrepreneur" comes from the French word, entreprendre: to undertake. And despite how entrepreneurship has changed over the years, that part is still very much in tact.

However you or anyone else chooses to define what it means to be an entrepreneur, it almost goes without saying that an entrepreneur can’t become one if he or she has to wait for that validation.

Because there are at least two things every entrepreneur has in common for sure: