Transforming from Amateur to Professional Entrepreneur: 4 Essential Steps
Written on
Chapter 1: My Entrepreneurial Journey
As I embarked on my entrepreneurial path with Darvina Chocolates during my final year of business school, I initially lacked direction. Despite my aspiration to become a business owner and attempts at various ventures that floundered, my chocolate business emerged serendipitously.
I crafted a chocolate piñata for my boyfriend’s birthday, and its popularity among friends and family led to requests for more. Posting my creations online resulted in my first sale within days. Within six months, I transitioned from living with my parents to operating out of a commercial kitchen, running a bustling online store for local delivery and pickup. Remarkably, I achieved $100,000 in sales while juggling my university studies. Upon graduating in April 2021, I committed to my business full-time.
However, despite these accomplishments, I was managing my business ineffectively. My decisions were largely based on instinct and trial-and-error, and I often worked solo, relying on family and contractors only during peak times. The stress took a toll on my health, resulting in weight gain and exhaustion. I frequently pondered quitting, having made countless mistakes that nearly derailed my venture.
By August 2022, I reduced my business efforts to part-time while securing a full-time job. In May 2023, I decided to pause my business to reevaluate my next steps. Overwhelmed and lacking a solid plan, I understood that substantial changes were necessary.
The turning point arrived in October 2023 when I sought mentorship after attending a conference featuring keynote speaker Arlene Dickinson. A question from the audience about standing out in the food and beverage sector led her to emphasize the importance of finding a mentor with relevant experience. Although this advice was familiar, I had never acted on it until then.
After the conference, a fellow entrepreneur recommended a mentorship program. Initially, I struggled to find a suitable mentor, but persistence paid off after nearly two months of searching. My first mentorship call was enlightening, marking a significant shift in my entrepreneurial journey. The insights I received were starkly different from the advice I had previously encountered, coming from someone who had navigated a similar path successfully.
Through this mentorship, I experienced profound growth as an entrepreneur. Below are four key strategies that helped me evolve from an amateur to a professional.
Section 1.1: Step 1 - Seek a Mentor
Many successful entrepreneurs don’t see themselves as exceptionally gifted. Instead, they recognize the value of learning from those ahead of them. Richard Branson embodies this mindset.
My perspective transformed once I realized I didn’t need to navigate challenges alone. For every endeavor, there exists someone a few steps ahead who has already figured out the intricacies. By seeking help, you can bypass years of struggle. A supportive mentor can broaden your network, connecting you with crucial resources—be it suppliers, partners, or investors.
Section 1.2: Step 2 - Cultivate Focus
In moments of crisis, I made the mistake of launching two additional businesses—a local delivery service and a marketing agency—rather than addressing the core issues plaguing my original venture. This diversion diluted my resources, both time and money.
While it may seem intuitive, maintaining focus is often overlooked by multi-passionate entrepreneurs. Success is more attainable when you dedicate yourself to a single venture rather than dispersing your efforts across multiple projects.
Section 1.3: Step 3 - Commit to Necessary Tasks
Launching a new venture is undeniably exciting, yet tackling tedious tasks is what truly propels a business forward. Successful execution of ideas is what generates wealth, not merely the ideas themselves.
I was recently introduced to a potential advisory board member who highlighted the importance of crafting a thorough business plan. Though it may seem laborious, a well-structured plan keeps you on track, guiding hiring decisions and investment pitches. Despite knowing its significance, I neglected to create one in my early days.
Section 1.4: Step 4 - Build a Supportive Network
A quote from my first year in business school continues to resonate with me: “You are the average of the five people you spend the most time with.” — Jim Rohn.
To cultivate a supportive network, identify where individuals who are slightly ahead of you congregate and engage with them. Conferences can be excellent venues for this. Immerse yourself in content from successful figures, filtering out distractions, and safeguard your time fiercely. Delegation is key.
According to Malcolm Gladwell, achieving proficiency requires 10,000 hours of practice. Accelerate this journey by learning from those who have already invested that time.
These strategies, I believe, are crucial in transitioning from an amateur to a professional entrepreneur.
The first video titled How to Become a Successful Entrepreneur - 4 Key Steps provides a concise overview of essential steps to thrive in business.
The second video titled Four Paths to Entrepreneurial Success explores various routes aspiring entrepreneurs can take to achieve their goals.
Follow for more insights on entrepreneurship, marketing, and productivity.