Becoming an entrepreneur has to be one of the most sought after dreams. For good reason, it appeals to so many people. However, starting from the very bottom – with nothing – and working your way up is also incredibly daunting, and one that requires a lot of different characteristics and personality traits.
However, that doesn’t mean the door to entrepreneurship is a locked door because there are more than a few alternatives that deliver the some of the benefits while avoiding many of the negatives.
Find A Partner
A great option available to you involves becoming a partner in an already established company, as opposed to investing in a company in exchange for an equity stake. The great things about this are that it gives you options on what sector and business you get involved with. It also allows you to choose whether you want to get involved with the day-to-day tasks that the founder hasn’t got time for, or have an entirely hands-off experience. Either way, this avenue will give you that entrepreneurial experience, just without having to endure the startup phases.
Snap Up A Franchise
There is no better way to avoid all the complexities and hassle of starting your own company than to buy a business in a box. But that’s not all. Buying a franchise means you are buying into an already proven formula with a recognizable brand and resources available for you to draw on. You can also pick what business you want to work in. It could be that you buy a logistics franchise because you’ve noticed a gap in the market in your area, or a recognized coffee shop, or a mechanical garage. The choice is yours, with the main challenge coming from the cost of purchase. Other than, it is relatively plain sailing thanks to the network you have entered.
Become A Venture Capitalist
Investing in startup companies comes with a ton of rewards and very little of the actual running of them. Instead, it is more about building up a portfolio of startup businesses that you invest in, which makes it more aligned to being the manager of a football team as opposed to the quarterback. Where and how you invest is completely up to you, which is why it is such an attractive proposition. It could be that you look around locally and invest in a business that you have some knowledge of, whether it is through a personal knowledge or networking, one that will offer an equity stake for your money. Alternatively, you could get involved in peer-to-peer lending, and enjoy starting that way to get the hang of it. Whatever you choose, it is important that you realize this does come with a degree of risk that usually matches the possible rewards. As such, research is going to be your best friend. But that should be fine because this route is the most hands-off approach there is, so you will have the time to do it, and keep working elsewhere if you fancy.