The Seven Laws for Creative Entrepreneurship: Unlocking Your Potential

If so, you're not alone. Many individuals in the creative industry have aspirations of venturing out on their own and building a successful business.

However, the path to creative entrepreneurship can be daunting and filled with uncertainties. But fear not!

In this article, we will explore the seven laws of creative entrepreneurship that will empower you to unlock your full potential and pave the way for your success.

Law 1: Find Your Trigger

One of the first steps in embarking on your journey as a creative entrepreneur is finding your trigger. A trigger can be a person, an idea, or even the prospect of financial stability. It is the catalyst that propels you forward and gives you the motivation and determination to take the leap.

As Rei Inamoto, co-founder of I&CO, advises, "Just look for one trigger and then go." Whether it's a trusted partner, a brilliant idea, or a willingness to take financial risks, finding your trigger is the key to starting your entrepreneurial journey.

Law 2: Do the Math and Be Stoic

Starting a business requires careful financial planning and a stoic mindset. Glenn Cole, co-founder of 72andSunny, emphasizes the importance of saving and being financially prepared before taking the plunge.

As a creative entrepreneur, you might have to go without a paycheck for months on end, so having enough savings to support yourself and your family is crucial.

Additionally, be willing to take on freelance work to sustain your business during its early stages. By doing the math and being stoic in your financial decisions, you'll set yourself up for long-term success.

Law 3: Build Your Brand

In today's digital age, building your brand is more important than ever. Brett Lovelady, founder of Astro Studios, highlights the significance of being known for something beyond the work you produce. Developing your brand requires authenticity and a unique point of view.

While social media offers various avenues for brand-building, it's essential to focus on authenticity and meaningful connections rather than getting caught up in the numbers game.

Remember, it's not just about the followers and likes; it's about developing your voice and leaving a lasting impression.

Law 4: Hire Based on Merit, Diversity, and Empathy

When assembling your team, consider the advice of Cindy Gallop, founder of MakeLoveNotPorn: "Hire female." Hiring based on merit, diversity, and empathy can bring fresh perspectives and foster a more inclusive work environment.

Embracing diversity and gender equality not only makes ethical sense but also leads to better decision-making and increased creativity.

By prioritizing empathy and diversity in your hiring practices, you'll create a team that thrives on collaboration and innovation.

Law 5: Have the Stomach for Challenges

Paul Lavoie, co-founder of TAXI, aptly advises creative entrepreneurs to have the stomach for challenges. Starting a business comes with its fair share of obstacles and unforeseen circumstances.

From legal threats to economic downturns, entrepreneurs must possess resilience and unwavering determination.

Remember, challenges are inevitable, but it's how you navigate and overcome them that will define your success.

Law 6: The Power of Partnership

While the "Hipster, Hacker, Hustler" theory suggests that three individuals are needed to start a company, Rei Inamoto suggests that two is the optimal number, just like in a marriage.

Finding the right partner to embark on your entrepreneurial journey is crucial. A strong partnership brings complementary skills, shared vision, and mutual support.

When you have a trusted partner by your side, you can navigate the challenges and celebrate the successes together.

Law 7: Search for Your Why

Before and after starting your company, it's crucial to search for your "Why." Your Why is the underlying purpose that drives your entrepreneurial journey. It goes beyond financial gains and taps into your desire to make a positive impact on the world.

As Rei Inamoto discovered, his Why evolved to include helping Japanese brands succeed and making Japan matter again. By constantly searching for your Why, you'll stay connected to your passion and remain focused on your long-term goals.

In conclusion

Creative entrepreneurship is a fulfilling and challenging endeavour. By following the seven laws outlined in this article, you'll be equipped with the tools and mindset needed to unlock your potential.

Remember to find your trigger, do the math, build your brand, hire based on merit and diversity, have the stomach for challenges, find the right partner, and search for your Why.

Stay ahead of the curve and invest in your growth. The world is waiting for your creative entrepreneurial spirit to make a difference.

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Thank you so much for reading and I hope I’ve provided some valuable information. And also if there are ever any questions or concerns regarding the content I’m writing, please don’t hesitate to reach out or leave a comment!

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