So why would anyone want to take on the hassles and risks associated with becoming an entrepreneur? Well, the 3 main reasons are.
Becoming Your Own Boss:
The lure getting your own boss is one belonging to 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 number of reasons based on personal circumstances. Some situations 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 many of us share similar desires, only a few people 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 protected from ideas, change, and innovation. Rather than let their desires simmer, these individuals consistently focused and Case study John Spencer ellis 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 I say perceived is because most small do lose. People must realize that the normal entrepreneur doesn’t make more money compared to working in the traditional job, hence why many never make the leap. While it’s not impossible, quite unlikely you reach a much like Larry Page and Sergey Brin (Google), also Jerry Yang (Yahoo). To me, it’s never a good idea to make financial rewards the primary motive for becoming an entrepreneur. While financial incentives are important, it should not be comprehend for starting a endeavor. Instead, entrepreneurs must posses easy tips characteristics, that if mastered, can assist you become a rare entrepreneur.
The most critical characteristic shared by successful entrepreneurs is passion. Him or her have a major amount of passion or even her business and believe that their organization will positively influence our world. A prime example is Sergey Brin and Larry Blog page. Both individuals have more than enough money to survive for several lifetimes. But rather than retiring with life of luxury, they’re still acting on their passion – Bing or google.
Honestly, you should not become an entrepreneur if you certainly passion for your business. If you’re only partially committed onto your business, you won’t survive. In our current competitive and dynamic business environment, entrepreneurs must be fully specializing in working extended stays to defeat competition while continually innovating on services and services that’ll assist the business grow and succeed. Without passion, you’ll succumb towards never-ending demands of company is and ultimately fail.
Focus & Tenacity:
To fulfill the never-ending demands of company is also requires focus and tenacity. Entrepreneurs must concentrate on delivering value to their customers by providing high-quality goods to improve their lives, thus creating a winning situation several stakeholders. In addition, they must also take advantage of the tenacity to fight through setbacks and failures, especially since both are inevitable. Considering that start-ups fail, entrepreneurs must focus on the end goal and work tenaciously on achieving their mission and vision.