So why would anyone want to take on the hassles and risks together with becoming an entrepreneur? Well, the 3 main reasons are.
Becoming Your Own Boss:
The lure getting your own boss is one from the primary reasons people become entrepreneurs. Compared to 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 regarding reasons based on personal circumstances. A few 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 home based business venture is to pursue their own ideas, dreams, and passion. While a lot of us share similar desires, only a few people actively work on realizing their entrepreneurial goals. When asked, many entrepreneurs stated that they were somewhat forced to their own business because their previous employers were resistant against 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 dollars associated with those perceived opportunities. Why I say perceived is mainly because most small businesses do fail. People must realize that a typical entrepreneur doesn’t make funds compared to working that has a traditional job, hence why many never take the plunge. While it’s not impossible, quite unlikely that you reach an amount like Larry Page and Sergey Brin (Google), and also Jerry Yang (Yahoo). To me, it’s rarely a good idea to make financial rewards the primary motive for becoming a businessperson. While financial incentives are important, it should not be the main reason for starting a business enterprise. Instead, entrepreneurs must posses these three characteristics, any time mastered, will help you become an extraordinary entrepreneur.
The most critical characteristic shared by successful entrepreneurs is passion. These individuals have a massive amount of passion for your business and believe that the organization will positively influence our economy. A prime example is Sergey Brin and Larry Report. Both individuals have more than enough money to survive for several lifetimes. But instead of retiring along with life of luxury, they’re still fixing their passion – Search.
Honestly, nobody become an entrepreneur if you don’t have passion for your business. If you are only partially committed business, you won’t survive. In our current competitive and dynamic business environment, entrepreneurs must be fully specializing in working extended hours to fight off competition while continually innovating on new products and services that’ll profit the business grow and thrive. Without passion, you’ll succumb towards the never-ending demands of your business and ultimately fail.
Focus & Tenacity:
To fulfill the never-ending demands of your small business also requires focus and tenacity. Entrepreneurs must focus on delivering value to consumers by providing high-quality goods to grow their lives, thus creating a winning situation for every individual stakeholders. In addition, should also take advantage newer picture of john spencer ellis the tenacity to battle through setbacks and failures, especially since both are inevitable. Since the majority of start-ups fail, entrepreneurs must always focus along at the end goal and work tenaciously on achieving their mission and vision.