The First Thing Every Creative Entrepreneur Should Know

Dumping a career in the corporate world to explore the boundless opportunities that lies within one's creative genius is quite common in our environment today. The lure of doing what you love is the singular most important factor that encourages creatively gifted people to become entrepreneurs. Consequently, we have a vibrant creative industry that is filled with people who are passionate about what they do...if they have a scalable business is another question altogether.

It is safe to say that the creative industry is home to the largest number of micro businesses. While a few have been highly successful, 98% of creative entrepreneurs are basically self employed. Note that being self employed (which means owning a job) is quite different from being an entrepreneur (which is more about creating systems which creates wealth). Many creative entrepreneurs today are frustrated in their bid to grow their businesses. Of course they produce great products, they love their work and are best at it; those however are not the full recipes for building a scalable business.

So if you're one of those "unsatisfied" creative entrepreneurs, or you know someone who is about to ditch a job for the pursuit of their passion, here is the very first lesson you must learn...

As an entrepreneur, its never enough to do what you love to do, you have to also do what you need to do

Its one thing to be a creative genius, its another to be a successful business person. Business success requires a lot more than great products. A business is a system not an hobby. So if as a creative 'hobbyist' you want to build a successful business, here are the skills you need to develop (just basics, they're not difficult).
1. Selling skills
2. Basic business law
3. Basic accounting
4. Web, Internet, and Social networking
5. People skills
6. Technical Investing (if you desire to expand your portfolio)

These basic skills are pivotal to the success or failure of any business. As a creative entrepreneur, you must learn these basics. This doesn't substitute the role of professionals in these areas, rather, these skills helps you to understand your business and helps you relate better with all stakeholders.

As a micro business, learn these skills or build a team that balances them. As you grow bigger, you may then hire professionals to handle each aspect. By so doing, you will be laying the foundation for a highly successful and scalable business; thereby creating value and contributing to social development while still doing what you love.

Entrepreneurs are perpetual students, and an "I don't like that area" mentality will not work. No one is asking you to became an business guru overnight. Just acquire basic knowledge of all these other areas.

Remember, its great that you love what you do, but if you're serious about building a business, you've got to do what needs to be done.

Thanks for your time.