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 on the primary reasons people become entrepreneurs. As 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 number of 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 few individuals actively work on realizing their entrepreneurial goals. When asked, many entrepreneurs stated that they were somewhat forced start out 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 financial rewards associated with those perceived opportunities. The reason that I say perceived is simply because most small businesses do lose. People must realize that a typical entrepreneur doesn’t make cash compared to working with just one traditional job, hence the reasons never dive right in. While it’s not impossible, it’s very unlikely that you reach an even like Larry Page and Sergey Brin (Google), and Jerry Yang (Yahoo). To me, it’s never a choice to make financial rewards the primary motive for becoming a businessperson. While financial incentives are important, it should not be considering for starting a employment. Instead, entrepreneurs must posses these characteristics, that if mastered, will let become an exceptional entrepreneur.
The most critical characteristic shared by successful entrepreneurs is passion. These individuals have a major amount of passion or even her business and believe that their organization will positively influence our environment. 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 to be able to life of luxury, they’re still fixing their passion – Search.
Honestly, you should not become an entrepreneur if you certainly passion for your very own business. If you’re only partially committed back to your business, you will not survive. In our competitive and dynamic business environment, entrepreneurs must be fully bought working extended hours to protect against competition while continually innovating on services and services that’ll help the business grow and thrive. Without passion, you’ll succumb towards the never-ending demands of your small and ultimately fail.
Focus & Tenacity:
To fulfill the never-ending demands of firm also requires focus and tenacity. Entrepreneurs must concentrate on delivering value to their customers by providing high-quality goods to better their lives, thus creating an absolute situation several stakeholders. In addition, they must also produce the tenacity to combat through setbacks and failures, especially since both are inevitable. Because most start-ups fail, John Spencer ellis finance entrepreneurs must always focus using the end goal and work tenaciously on achieving their mission and vision.