What Separates the Rookies from the Vets in Entrepreneurship?

In the world of entrepreneurship, there are rookies who are new to the game, and excited to dive into the business world. Then there are those who have been operating their businesses for many years and have developed a knack for running a business. 

How They Differ

There are 2 things that separate the new entrepreneurs from the more advanced business owners and that are time and talent. New entrepreneurs use their own talent, time and money to get their business off the ground and running. Whereas advanced entrepreneurs use their resources for lead generation such as the development of websites, brands, videos, blogs articles, billboards, teams, employee relationships, books and social media campaigns to build a funnel that drives the best opportunities and clients. 

The Road To Being An Advanced Entrepreneur

To create all this, an entrepreneur needs time and talent, and there is no way they can create all of that on their own. Entrepreneurs need to buy back their time by outsourcing what tasks they can. There are many websites that can be used for these tasks, including upwork.com. These online tools allow entrepreneurs to save money by outsourcing tasks to other countries where hourly rates are cheaper, making it possible to have double the work done for the same budget. Regardless of whether the overall rates are cheaper, it is important to still pay your employees well, and not try to undercut them or get them to work for less than they are worth by their countries’ standards. Great entrepreneurs will attract the best talent, and pay people well, encouraging and rewarding them for their best efforts. Advanced entrepreneurs can get ahead by paying to get ahead, you get what you pay for, and by cheapening out on talent, one of the most important resources, you will only be cheating yourself out of better quality work in the end. 

Invest In Yourself 

“Free Advice is Too Expensive”

Advanced entrepreneurs invest in themselves and their development including by paying coaches to help them get ahead. A smart man learns from his mistakes, while a genius learns from other people's mistakes. The knowledge and guidance you get from people who have reached the advanced level you want to get to are priceless. Mentorship and guidance are some of the best ways to gain access to a wealth of first-hand knowledge, without having to go through it yourself. Learning from others can help you stay one step ahead as a business owner, especially as a new business owner. 

Follow Build and Grow Business to learn more about how you can become an advanced entrepreneur, and we can help! 

Credit to Money, People, Deal by Stefan Aarnio for source information.