Often, those who are questioning “How to become entrepreneurs” forget the crucial importance of the necessary change of mentality required of a person who after years of employment chooses to go into their own.
Those who choose to make the big leap with the goal of winning are to drastically change their professional approach by modeling it according to the needs and responsibilities required by the new role.
While the primary purpose of the employee is to complete the tasks entrusted by the superiors to be paid on time, the entrepreneur, and also the freelancer, needs to find a way to work all in perfection by providing his company with flourishing and stability.
Knowing how to develop a good entrepreneurial mindset means learning a whole set of rules that enable the company to be based on business management projected to both growth and common sense: essential features that can provide stability in the short and long term.
The value of money
Those who want to become successful entrepreneurs must first learn the value of money and the so-called business risk. Unlike an employee, a freelance or company-led entrepreneur must take into account the expected risk compensation inherent in his investment in the business and a non-secondary cost series …
- Taxes: Depending on the VAT choice you apply the related taxation, but in general terms, we can say that whoever works at the end of the accounts will find himself with about 50% of the hand in hand;
- The insurance company: As opposed to many employees, the entrepreneur does not have a contract of employment inclusive of any insurance coverage, if he wants to protect himself from injuries, illnesses or other, he has to take charge of the policies that allow him to reduce the risks to the minimum (the most required insurance is dental or health insurance, but also life insurance and invalidity);
- Pension contributions: The free-lance worker who wants to have a peaceful future must think about paying back the contributions of the retired person on his own when he can no longer work because of age (even in this case the percentage of contributions it varies according to the VAT choice you choose, so if you are not completely retired at seventy years, it is strongly advisable to seek support from your accountant or a trusted adviser as soon as you start your business);
- Furniture and office rent: The entrepreneur himself has to pay the rent of the office and all the furniture to be placed inside it (desks, chairs, shelves, etc.);
- The devices to work: As in the previous point, even in this case, the freelancer must buy all the technological devices and means that will enable him to carry out the required tasks (computers, printers, tools, machines, etc.);
- Accessories and extra costs: In this case, we refer to all the expenses associated with, for example, business cards, brochures, catalogs, etc. Another important cost not to be underestimated is definitely that of advertising that, above all for today, is an increasingly indispensable component for all entrepreneurs (advertising can be made through internet, radio, television, paper, etc.).
Look over tomorrow
In addition to considering-calibrating the economic aspect of the matter best, a freelance professional with a good entrepreneurial mindset must also be farsighted in learning to predict what might happen in the future in the field of affiliation.
Will there be any changes that will affect the market trend? Will customer requests change? Will there be new services that can supplant the old ones? And, above all, what marketing operations will it take to keep the managed company in a positive way?
To find the right answer to these questions, it is first and foremost to adopt a business management that has a key role in factors such as planning and strategy: essential components to devote at least one hour per day to target your business towards growth and development.
At least 5 hours a week to study your product market, to hypothesize new product ideas, to evaluate market trends, to get closer to the public, to sponsor and make networking between customers, employees, and competition (even with competitors can be born of good alliances).
Collaborators and team
By staying in the field of collaborations and good alliances, those who want to become a successful entrepreneur must absolutely learn to delegate the tasks entrusted to dispose of excessive workloads while ensuring that the public is always the highest possible quality.
Whether it is internal or external to the company, the freelance entrepreneurial mindset must address it to winning coalitions with serious and motivated professionals, helping to increase the number of projects and earnings, putting individual figures in the state of work less while doing better.
These are our practical tips on how to become a successful entrepreneur even after long years spent in the employee’s mind: precious tips to take seriously into consideration before hacking into his business plan.