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How to Become an Entrepreneur

Updated August 1, 2022 . AmFam Team

Becoming an entrepreneur doesn’t happen overnight. Learn the steps involved in building a successful business from American Family.

Do you dream of being a trailblazer? Wonder what it’s like to be your own boss? Do you think you have the unique skills needed to do something completely outside the box? If so, you might consider becoming an entrepreneur! While the idea of starting your own business can feel a little intimidating, you can become a successful entrepreneur with the right support and resources.

But where do you start? Every entrepreneur’s dream journey is different, but there’s a general path that can lead you to success. Here are seven steps to becoming an entrepreneur.

1. Know What It Means to Be an Entrepreneur

First things first: Make sure becoming an entrepreneur is right for you. While you get to call the shots and choose when and how you work, there’s a lot of time and effort that goes with it. Entrepreneurs work long, hard hours for something that is not guaranteed to be successful. Starting up your own business means understanding that risk and wanting to do it anyway.

If you’re just looking for a job that gives you independence, make sure you know your options before becoming an entrepreneur. For example, a freelancer or contractor can independently choose their clients and what specific task(s) they do for them. In contrast, as an entrepreneur, you are given very little guidance, and you certainly don’t do a small set of things. Being an entrepreneur means you wear many hats — you’re the head of fundraising and financing, human resources, negotiating, planning and everything else in between.

Ready to become an entrepreneur? We’re here to support AND protect your small business dreams. When your business is ready to take off, get in touch with your local American Family Insurance agent (Opens in a new tab) today to learn about our small business insurance.

Looking for more tips and motivation for your career? We’ve got just the resources to help you carve your own path.

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