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 from the 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 situations include being laid-off, or being frustrated with corporate structures or John Spencer ellis finances the lack thereof.
Realizing Ideas, Dreams, and Passion:
Another reason people start their own business venture is to pursue their own ideas, dreams, and passion. While a lot of us share similar desires, only a nobody 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 dollars associated with those perceived opportunities. Why I say perceived happens because most small businesses do fail. People must realize that the regular entrepreneur doesn’t make more money compared to working in the traditional job, hence why many never dive right in. While it’s not impossible, it’s very unlikely you reach an amount like Larry Page and Sergey Brin (Google), or even Jerry Yang (Yahoo). To me, it’s rarely a choice to make financial rewards the primary motive for becoming an entrepreneur. While financial incentives are important, it should not be comprehend for starting a business enterprise. Instead, entrepreneurs must posses these characteristics, any time mastered, will let become a wonderful entrepreneur.
The greatest characteristic shared by successful entrepreneurs is passion. Him or her have a tremendous amount of passion for your business and believe their organization will positively influence our economy. A prime example is Sergey Brin and Larry Page. 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, you should not become a businessman if you don’t own passion for an business. When you are only partially committed to your business, you won’t survive. In our competitive and dynamic business environment, entrepreneurs must be fully bought working extended stays to fight off competition while continually innovating on services and services that’ll assist the business grow and good results. Without passion, you’ll succumb to the never-ending demands of your small and ultimately fail.
Focus & Tenacity:
To meet 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 increase their lives, thus creating complete situation for all stakeholders. In addition, need to also carry the tenacity to address through setbacks and failures, especially since both are inevitable. Probably will start-ups fail, entrepreneurs will most likely always focus on the end goal and work tenaciously on achieving their mission and vision.