So why would anyone want to take for your hassles and risks related to becoming an entrepreneur? Well, the 3 main reasons are.
Becoming Your Own Boss:
The lure of becoming your own boss is one of your 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 variety of reasons based on personal circumstances. Some include being laid-off, or being frustrated with corporate structures or the lack thereof.
Realizing Ideas, Dreams, john spencer ellis blog and Passion:
Another reason people start their own business venture is to pursue their own ideas, dreams, and passion. While many of us share similar desires, only a not everybody 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 dollars associated with those perceived opportunities. The reason that I say perceived is they most small businesses do lose. People must realize that a typical entrepreneur doesn’t make funds compared to working in the traditional job, hence why many never take the plunge. While it’s not impossible, extremely unlikely that you’ll reach an amount like Larry Page and Sergey Brin (Google), also Jerry Yang (Yahoo). To me, it is rarely a good idea to make financial rewards the primary motive for becoming operator. While financial incentives are important, it should not be the main reason for starting a marketplace. Instead, entrepreneurs must posses these three characteristics, whenever mastered, can assist you become a rare entrepreneur.
The single most important characteristic shared by successful entrepreneurs is passion. Individuals have a massive amount of passion for your business and believe that their organization will positively influence our economy. A prime example is Sergey Brin and Larry Webpage. Both individuals have more than enough money to survive for several lifetimes. But rather than 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 targeted business. Should you be only partially committed business, you won’t survive. In today’s competitive and dynamic business environment, entrepreneurs must be fully bought working extended stays to protect against competition while continually innovating on new products and services that’ll help the business grow and realise success. Without passion, you’ll succumb towards 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 concentrate on delivering value to customers by providing high-quality goods to strengthen their lives, thus creating complete situation for several stakeholders. In addition, they should also take advantage of the tenacity to battle through setbacks and failures, especially since both are inevitable. Because most start-ups fail, entrepreneurs needs to focus using the end goal and work tenaciously on achieving their mission and vision.