For Subscribers

5 Tips For Building an Entrepreneurial Framework

Building a business is like building a house: You need a strong foundation.

learn more about Tony M Fountain

By Tony M Fountain

PeopleImages | Getty Images

Opinions expressed by Entrepreneur contributors are their own.

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.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, get access to a ton of exclusive content and resources that will help grow your entrepreneurial mindset. You’ll find:

  • Exclusive content from our network of today’s leading CEOs and business strategists
  • Receive our flagship Entrepreneur Magazine - free!
  • No more ads, and get access to the Entrepreneur+ homepage
  • Free E-books written by our staff and other industry thought leaders

Related Topics

Editor's Pick

The Dark Side of Pay Transparency — And What to Do If You Find Out You're Being Underpaid
Thinking of a Career Change? Here Are 4 Steps You Can Take to Get There.
A Founder Who Bootstrapped Her Jewelry Business With Just $1,000 Now Sees 7-Figure Revenue Because She Knew Something About Her Customers Nobody Else Did
Everything You Need to Know About Franchise Law
Marketing

Streaming TV Is the Future of Advertising — Without Breaking the Bank

Today's consumers expect personal, impactful ads. There's an advertising method that can get you there for half the price, making it the next frontier in digital advertising.

Business News

A Scammer Posing as Elon Musk Tricked a Florida Principal into Sending $100K in School Funds: 'I Fell for a Scam'

Dr. Jan McGee has since resigned as principal of Burns Science and Technology Charter in Oak Hill, Florida.

Business News

'Crying Northwestern Kid' Turned His Viral Fan Moment Into a Successful Harvard Admissions Essay. He Says the Experience Taught Him About Empathy.

Six years ago, Phillips was watching No. 8 Northwestern take on No. 1 Gonzaga during March Madness when he became a meme.

Growing a Business

The No.1 Most Bankable Skill You Must Have to Succeed in 2023

If you don't foster this skill, you'll fall behind the pack financially and professionally in 2023.