Episode 262: A Study Guide For Becoming A Better Entrepreneur

In this episode of the Sweaty Startup, I wanted to present things differently to provide more of a study guide, especially for those who are looking for the essentials of entrepreneurship and small business management. The questions I have you answer are some essentials to entrepreneurship that you as a business owner need to consider as you start a business. I encourage you to take your time to reflect over these in whatever way will help you internalize them and implement the concepts.

Key Questions That You Need to Ask

  • What are your personal and/or career goals?
    • What are you happiest doing with your time?
  • Where do you want to be five years from now (What does success look like to you?)
    • What does a perfect day/week look like for you?
    • Lay out how you spend your time.
  • What are your partner’s strengths and weaknesses?
    • How can you best work together based on these?
  • What are your strengths and weaknesses? (try to look at yourself from an external perspective; you may have some hard questions to answer)
  • What 20% of your activities generate 80% of your profits?
  • Based around customers or employees: What are the common questions or things they need help with?
  • What are you worried about right now? (This can be asked personally and career-wise)
    • What are you worried about with specific customers or employees?
  • Based on your goals: What is the least risky path to achieving this?
  • What have been the most important things you’ve done for your company?
  • What have you been neglecting recently?
  • Based on your goals, what amount of money do you need to obtain that goal?

Again, take your time to answer these questions. It’s more than just having a good startup business idea. Write down your answers and reflect on them. Go in depth on some of the questions asking them from different angles of your life such as personally, financially, socially, etc. Introspection is key for every entrepreneur trying to start a business; this allows them to become the best version of themselves.

For more essentials of entrepreneurship and small business management, view Nick Huber’s business courses.

Three Key Takeaways:

  1. Sometimes you need to think outside of the box, especially when it comes to becoming a better entrepreneur. It’s about accepting the answers that you need, not the ones that you want to here.
  2. Be honest with yourself when answering these questions. This is not the time try to put on a front, the future of your business is in the balance. Introspection is key for every entrepreneur trying to start a business; this allows you to become the best version of yourself.
  3. Be patient. There is no need to rush when answering these questions. Have aggressive patience!

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About Me

I started the Sweaty Startup in December of 2018 because I believe the Shark Tank and Tech Crunch culture is ruining the real spirit of low-risk entrepreneurship.