So why would anyone want to take on the hassles and risks related to becoming an entrepreneur? Well, the 3 main reasons are.
Becoming Your Own Boss:
The lure getting your own boss is one of your primary reasons people become entrepreneurs. Associated with working for someone else, these individuals prefer to follow their ambition of starting their own firm. Overall, people decide to become their own boss for a associated with reasons based on personal circumstances. Some examples include being laid-off, or being frustrated with corporate structures or the lack thereof.
Realizing Ideas, Dreams, and Passion:
Another reason people start their own small business venture is to pursue their own ideas, dreams, and passion. While a lot of us share similar desires, only a not everyone actively work on realizing their entrepreneurial goals. When asked, many entrepreneurs stated that they were somewhat forced to begin their own business because their previous employers were from ideas, change, and innovation. Rather than let their desires simmer, these individuals consistently focused and worked at bringing their ideas, dreams, and passion to fruition through entrepreneurship.
Last, people become entrepreneurs to reap the financial rewards associated with those perceived opportunities. Why I say perceived happens because most companies do fail. People must realize that the common entrepreneur doesn’t make cash compared to working in the traditional job, hence why many never take the plunge. While it’s not impossible, really unlikely you reach an even like Larry Page and Sergey Brin (Google), and also Jerry Yang (Yahoo). To me, it’s never a good idea to make financial rewards the primary motive for becoming an entrepreneur. While financial incentives are important, it shouldn’t be considering for john spencer ellis update starting a endeavor. Instead, entrepreneurs must posses those 3 characteristics, that if mastered, will allow you to become a unprecedented entrepreneur.
The best characteristic shared by successful entrepreneurs is passion. These people have a massive amount of passion for your business and believe that the organization will positively influence our human race. A prime example is Sergey Brin and Larry Webpage. Both individuals have more than enough money to survive for several lifetimes. But instead of retiring to be able to life of luxury, they’re still working on their passion – Bing.
Honestly, you must not become an entrepreneur if you don’t have passion for your business. When you are only partially committed back to your business, you won’t survive. In today’s competitive and dynamic business environment, entrepreneurs must be fully focused on working long hours to drive back competition while continually innovating on services and services that’ll assist the business grow and thrive. Without passion, you’ll succumb to the never-ending demands of business and ultimately fail.
Focus & Tenacity:
To meet the never-ending demands of company is also requires focus and tenacity. Entrepreneurs must focus on delivering value to their customers by providing high-quality goods to improve their lives, thus creating complete situation for all stakeholders. In addition, they must also produce the tenacity to battle through setbacks and failures, especially since both are inevitable. Will certainly start-ups fail, entrepreneurs will most likely always focus on the end goal and work tenaciously on achieving their mission and vision.