With a recession in full swing, major corporations showing huge losses, and people from all sectors losing their jobs, folks are looking for other ways to make a living. The idea of becoming your own boss and becoming an entrepreneur seems to cross peoples minds more often during trying times likes these. In fact, throughout history huge fortunes have been made during economic down-turns.
Deciding to become an entrepreneur can be an exciting and overwhelming endeavor. When I bought my first business I had no idea what the hell I was doing. I thought my passion for what I was doing would carry me through and I that I would figure out the rest on my own. WOW. Although passion is a crucial part of working for yourself, passion alone won't put money in your pocket.
The first thing you need to be is smart enough to realize that you don't know anything and you're going to need help. The first thing I did when I came to that realization is start reading; I read books on how to be successful in business. The first book I read was one that was recommended to me: the E-Myth, by Michael. E. Gerber, which radically changed the way I looked at business and how a business should be run. It also made me realize that I was going to be out of business very soon if I didn't get a handle on things.
I went from a guy who hated reading to a guy that reads at least one book a month on my new profession of being an entrepreneur. My first piece of advice to anyone started a business is to educate yourself before you end up doing something stupid. Believe me, it's all too easy when you're new to entrepreneurship.