Look around you and imagine the vast wealth in business. Every business from the largest to the smallest, resulted from entrepreneurship.
But there are many of our folks from high school, to advanced PhDs, to executive education. Which are still battling with this mind blogging question. Am I an entrepreneur?
If entrepreneur is so compelling, why do so many people hesitate to start his or her first venture? Because they may be asking there selves this question. But if that was you. You are not alone in your anxiety, because this quite a wrong question to ask. And one that lead’s to inaction.
Entrepreneurship is not genetic. Entrepreneurship has nothing to do with your chromosomes or inherited traits. Entrepreneurship is not yes or no phenomenon, “yes, I’m an entrepreneur,” “no. I’m not an entrepreneur.” Entrepreneurs are not born; unlike employees are not born. They make things happen because of there will to succeed and skills and knowledge. And you can learn and enhance the skills that make all entrepreneurs successful.
The fact is, if you take it thoughtfully, and step by step, your chances of success are excellent. You need less talent, skill, industry knowledge, money, and other resources than you may believe you can outsources. Most functions- design, manufacturing and packaging, marketing and sales, distribution, shipping, and accounting the resources you can mobilized on the web are nearly limitless, and if you control your financial exposure and don’t make it on the first attempt. You’ll be better prepared for your next start-up.
What is still holding you back.
Becoming a successful entrepreneur is within your reach to hold onto. If you really want to make it happened.
- The winning entrepreneur; three things you need to work on has an entrepreneur.
- Incorporating your business. Things to avoid when filing for incorporation.
- Make good decisions: the ability to make good decisions is essential to success in business and personal life. Decision making can also be learned and enhanced. The process begins with clarifying the decision statement; then defining what right decision must be accomplish; developing and evaluating alternative. Examining future consequences, and finally making a reasoned choices. This is a process you can learn and apply to systematically improve your decision making ability. As well as become a better problem solver. You don’t have to wing it.
- Asses the present situation: home your ability to observe, collect information, understand the opportunisties and threats that can impart you and your business-to-be. Factor in your own personal strengths, skills experiences, challenges, and resource limitations. If you begin with the wrong assumptions, you will invariably get the wrong answers.
- Be unstoppable: focus your attention on the timely execution of every milestone, on your path to your goal. You and your team will face many obstacles along the way, but you will not let these stumbling blocks stop you. Just show up an get it done-period.
- Solve problem effectively. There is rarely a day in my business or personal life, that a problem doesn’t crop up that needs to be solved. Problem solving is a skill that can be learn through study and practice. Start by identifying the problem meticulously, examine changes, text causes, verify the solution. Your rate of success improves dramatically with your ability to solve problems.
Obstacles every entrepreneur must overcome.
Deep down, you may want to be in business for yourself, but there are real and perceived-obstacles and risks. You have to overcome to move forward with your entrepreneur dream. Remember, entrepreneurship is a trial and error activity; the more time you try, the more you learn and the better you get at rebounding.
When you come across successful entrepreneurs at your health club. Networking meetings or other business and social events, ask them about their entrepreneurial histories. Repeatedly, you will hear that most, and perhaps all, did not succeed on their first attempt. They kept going, repositioned their first opportunities or abandoned it. And began exploring another. What obstacles are holding you back? Instead of letting them prevent you from achieving your entrepreneurial success, think of obstacles as calls to action. For example.
1. Lack of self-confidence:
Self confidence comes from succeeding, so go for it. If you don’t jump into the trying game, you will go through life feeling the absence of self-esteem.
If your first few attempts are non-success, your self perception will increase because of what you have learned. Take courage and keep trying, a classic vignette about Thomas Edison epitomizes this point:
Thomas Edison, the greatest inventor of all time (1.093 patents for such inventions as the phonograph, the stock tickerape machine, medical x-ray devices and carbon telephone transmitter. To name just a few) was attempting to develop a filament for the lightbulb. He and his team conducted more than 8,000 experiments trying all sorts f materials and under every imaginable condition. An acquaintance is said to have asked “Mr Edison, how can you keep going in the face of 8,000 failures, why aren’t you crushed by the futility and frustration?” Edison replied coldly, “I never had one failure. I leaned from every attempt and each experiment led me to more likely pathways, and I will eventually succeed,”
Light on! Like Thomas Edison, if you do like him you will succeed, just go carefully and watch your cashflow.
This happens to everyone brainstorm with friends ask them to help you define your inertia. Reexamine your goals.
Personally, you may get stuck and your frustration may goes sky high and you’ll have to do something! That’s my advice to you- do something. Take one extremely frugal step in any likely entrepreneurial direction. Action will lead you out of the wilderness.
3. Lack of financial resources:
Soften this obstacle immediately by asking yourself what action you should take. Where you should look for start-up capital? How can you succeed so that money doesn’t stop or limit you? What do you have to move forward with your limited financial resources? How much money will you need to launch and grow your venture? This obstacles presents an excellent opportunity to brainstorm with your friends and advisors.
4. Health, stress, long hours;
Whenever you are getting burnt out, relax, find the balance!
Exercise, eat healthy, unwind with family and friends, get involved in activities, meditate, sing, play, listen to music, dance, go to movie, read,……but don’t lose sight on your entrepreneurial focus.
5. Potential for financial loss:
Keep Edison’s “trying game” in mind, invest carefully in what you believe is an opportunity. If your venture doesn’t make it, the next time you attempt a start-up, you will be more savvy and your chances of succeeding are greater. Don’t make major expenditures until you have confidence that you are on the scent of a real opportunity. Specifically, what amounts of financial loss are you worried about?