Entrepreneur Plus - Short White
For Subscribers

5 Tips For Building an Entrepreneurial FrameworkBuilding a business is like building a house: You need a strong foundation.

ByTony M Fountain

Opinions expressed by Entrepreneur contributors are their own.

PeopleImages | Getty Images

So, you have started a business, Congrats! Now what? To help you prepare for and understand your journey to becoming an entrepreneur, think of it as building a house. When creating a home, you begin by visualizing, planning, financing, gathering materials, and collaborate with contractors before you can start building it. There are many steps to the process, and you will need to treat your goals the same. Similarly, it would be best if you conceptualized what it is you want to do, research, and make plans on how to achieve it within a realistic time frame.

Setting deadlines will allow you to manage your time accordingly and hold yourself accountable: The timeline will also enable you to note your progression, which encourages you to continue. Next, you have to fund your project, so you either have to be willing to seek out and find an investor that you will have to repay with interest or give them a percentage. You may have to stick it out with that job you hate a little longer, work overtime, and possibly even take a second job to save up. Afterward, you must network and build relationships with the right people that can help you reach success. This article outlines some of the typical steps any entrepreneur can take when beginning to build their empire.

This is a subscriber-only article. Join Entrepreneur+today for access

Editor's Pick

Related Topics

Business News

An 81-Year-Old Florida CEO Just Indicted for a $250 Million Ponzi Scheme Ran a Sprawling Senior Citizen Crime Ring

卡尔·鲁德尔曼是第五高级公民Miami-Fort-Lauderdale-Palm Beach metropolitan area to face charges in connection with the scam.

Business News

Taco Bell Slammed With Lawsuit Over 'Especially Concerning' Advertisements, Allegedly Deceiving Customers

The class action lawsuit claims the chain is advertising more than they deliver.

Business News

Steve Jobs's Son Is Diving Into Venture Capital — and His Focus Hits Close to Home

Reed Jobs, 31, launched venture capital firm Yosemite, which already boasts $200 million from investors and institutions.

Business News

Body of Missing 27-Year-Old Goldman Sachs Banker Found in Nearby Body of Water

John Castic, a 27-year-old Goldman Sachs employee, went missing around 2:30 a.m. on Saturday after attending a concert at the Brooklyn Mirage in East Williamsburg.

Money & Finance

Want to Become a Millionaire? Follow Warren Buffett's 4 Rules.

企业家是不能过度指狗万官方望太多a company exit for their eventual 'win.' Do this instead.

Marketing

This Industry Is Making More Money Than Hollywood and the Music Industry Combined — Here's How Your Business Can Get Involved

With mobile gaming revolutionizing product placement and brand awareness, one surprising demographic is leading the charge.