Entrepreneurs Characteristics. Forget Everything You Know About Small Business, and Then Read This!!
Entrepreneurs Characteristics- Classic Ideas That Will Set You Apart From The Crowd!
Entrepreneurs Characteristics. Think Like an Entrepreneur. My biggest problem in becoming self-employed was me.
In order to BE a self-employed person I had to start thinking like one. I found myself reverting to that nine-to-five mentality. If I wasn’t accomplishing a task every hour, then I must not really be working.
Sometimes a self-employed person has to make decisions about her business.
Sometimes she is just thinking about a solution to a problem. Sometimes she just has to quiet her mind so new ideas can come.
Just because you’re not pounding away at the typewriter every minute doesn’t mean you’re not working.
I’ve also learned that its okay NOT to answer the phone every time it rings.
That’s what voicemail is for, and the same goes for email. At my nine-to-five job I would leave the email program open all day and answer each one as it arrived.
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It took me a while to realize its okay to only check email several times a day instead of constantly being interrupted.
Its actually more productive than having to stop your thought process every time you have mail. At my other job, I was able to let a phone call roll over into voice mail, but it took me a while to be able to shut down the email too.
You’re going to have days where you feel you didn’t accomplish much. Then again, you’ll have days where you’ll feel you can conquer the world and you’ll be amazed at how much you got done.
Some days you may not finish many tasks, but you’ll make a decision on a problem that needed to be addressed. Or, you will have learned a valuable lesson about yourself.
And, I had to learn to stop breaking down all my tasks into dollars and cents. I tended to worry about how much I was or was not earning every day.
The truth is, some days you’re going to make more than other days. If I spent my day on marketing issues, even though I didn’t earn any money from it that day, I would benefit from it some time in the future.
Rather than worry about what benefits I do or don’t have, I realized the benefit I have in my business is that I answer only to me.
Everything I do will benefit me sooner or later. Instead of my income being dependent on somebody else’s budget, I can go as far as I dream.
And because I’m now doing what I truly love and not what someone else tells me to, I’m much happier and more content. I learned if you start THINKING like an entrepreneur, then you’ll actually be one.
Entrepreneurs Characteristics- The Risks of Entrepreneurship.
Never Stop Learning and Give Back
According to Bloomberg, “the most powerful word in the English language is ‘Why.’ There is nothing so powerful as an open mind.
The “spark” for many entrepreneurs is seeing an opportunity that doesn’t yet exist. Ted Turner, for example, launched CNN because he perceived that people wanted more television news than they were being offered.
It took a lot of patience on Turners part to realize the vision, but he had read the market in a way that few “experts” did at the time.
In realizing the promise of CNN, Turner demonstrated another facet of the entrepreneurial spirit- PERSISTENCE.
There are a lot of bright ideas that never reach fruition; taking a “raw” idea and converting it into a successful business model is very hard work.
And that work never stops. No matter how innovative your idea, the competition is always just behind you.
With anything less than constant creative effort on your part, they may not stay behind you.
Are you still with me? Here is where I reveal why everyone isn’t an entrepreneur:
No opportunity is a sure thing, even though the path to riches has been described as, simply “…you make some stuff, sell it for more than it cost you… that’s all there is except for a few million details.”
The devil is in those details, and if one is not prepared to accept the possibility of failure, one should not attempt a business start-up.
It is not indicative of a negative perspective to say that an analysis of the possible reasons for failure enhances our chances of success.
Can you separate failure of an idea from personal failure?
As scary as it is to consider, many of the great entrepreneurial success stories started with a failure or five.
Some types of failure can indicate that we may not be entrepreneurial material.
Foremost is reaching one’s level of incompetence; if I am a great programmer, will I be a great software company president?
Attitudinal problems can also be fatal, such as excessive focus on financial rewards, without the willingness to put in the work and attention required.
Addressing these possibilities requires an objectivity about ourselves that not everyone can manage.
Other types of failure can be recovered from if you “learned your lesson.”
A common explanation for these is that “it seemed like a good idea at the time.”
Or, we may have sought too big a “kill;” we could have looked past the flaws in a business concept because it was a business we wanted to be in.
The venture could have been the victim of a muddled business concept, a weak business plan, or (more often) the absence of a plan.
When small businesses fail, the reason is generally one, or a combination, of the following:
* inadequate financing often due to overly optimistic sales projections;
* management shortcomings, — such as inadequate financial controls, lax customer credit, inexperience, and neglect, and;
* misreading the market, — indicated by failure to reach the “critical mass” required in sales volume and profitability,
— usually due to competitive disadvantages or market weakness.
Conclusion. How are your business skills? Business is tough to do and, unless you can put your heart and soul into it, you cannot succeed. Please read this entire Blog if you want to learn How To Develop Entrepreneurs Characteristics.
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