Russell Sergent: How to Succeed as an Entrepreneur

Many kids in the United States dream about owning their own business. Living as an entrepreneur can be very rewarding for a variety of reasons, including the money you can make if you’re successful. Owning your own business can be highly rewarding, simply because you often have the opportunity to make your own hours, and to work for yourself. Starting a business, and succeeding as an entrepreneur, requires many hours of work per week, often only to make little profit, at least for the first year. Many businesses in the United States fail after three years for one reason or another. Many others aren’t able to make a profit until at least their fifth year of existence. Business owners often work fifty hours a week or more for five years after they start their business just to keep its door open, something often necessary succeed and to attract more customers.

Succeeding as an entrepreneur takes more than hard work, however, to break even. Entrepreneurial success often requires careful planning, and some luck, at least in the early months and years of the business. To establish your brand, at least as a player in any niche of the industry you participate in, your business will have to both grow and sustain growth. A business has to grow quickly in order to survive in the long term. Continuing to fight to break even may only help to your business keep its doors open. As an entrepreneur, you have to create opportunities for your business to expand its operations in the industry you inhabit. Getting a larger market share should always be one of your top priorities while you keep your business running. The longer you tread water, the faster your competitors will gain on you and take your market share.
Russell Sergent built his company, Pro-Source Distributors, from the ground floor into one of the largest distributor of janitorial supplies, paper, and chemicals to over 500 businesses in Wisconsin and Illinois. Sergent started his business in 1988.