So why would anyone want to take at 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 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. A few 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 company venture is to pursue their own ideas, dreams, and passion. While a lot 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 start their own john spencer ellis nomadic business life because their previous employers were towards 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.
Financial Rewards:
Last, people become entrepreneurs to reap the financial rewards associated with those perceived opportunities. Why I say perceived is mainly because most small do not work. People must realize that the common entrepreneur doesn’t make funds compared to working that has a traditional job, hence why many never take the plunge. While it’s not impossible, it’s very unlikely you will reach a level like Larry Page and Sergey Brin (Google), and Jerry Yang (Yahoo). To me, it is rarely a good idea to make financial rewards the primary motive for becoming a businessman. While financial incentives are important, it should not be the main reason for starting a employment. Instead, entrepreneurs must posses these three characteristics, if mastered, will let become an exceptional entrepreneur.
Passion:
The best characteristic shared by successful entrepreneurs is passion. These people have a tremendous amount of passion for your business and believe that their organization will positively influence our world. A prime example is Sergey Brin and Larry Page. Both individuals have more than enough money to survive for several lifetimes. But rather than retiring with life of luxury, they’re still repairing their passion – Bing or google.
Honestly, nobody become operator if you don’t own passion for an business. Should you be only partially committed business, you will not survive. With the current economic competitive and dynamic business environment, entrepreneurs must be fully bought working hard to protect against competition while continually innovating on new products and services that’ll conserve the business grow and realise success. Without passion, you’ll succumb on the never-ending demands of business and ultimately fail.
Focus & Tenacity:
To satisfy the never-ending demands of firm also requires focus and tenacity. Entrepreneurs must focus on delivering value to their customers by providing high-quality goods to better their lives, thus creating complete situation for every individual stakeholders. In addition, they should also have the tenacity to battle through setbacks and failures, especially since both are inevitable. Since the majority of start-ups fail, entrepreneurs must focus around end goal and work tenaciously on achieving their mission and vision.