Definition of Entrepreneurship:
The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses.
In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation’s ability to succeed in an ever changing and increasingly competitive global marketplace.
Find a why for going into business other than just trying to make a lot of money in a short amount of time.
1) What are some of the behaviors that make you an Entrepreneur.
a) Concerned about the economy?
b) Concerned about the environment?
c) Do you consider yourself a self-starter.
d) How do you spend your FREE time?
After finding your Why work on how you are going make business work. Figure out how your going to make all this happen. How do you introduce yourself~(ex): “Hi my name is …… and I am in the flooring business we specialize in same day installation”.
Do you consider yourself to be an Entrepreneur?What or who do you consider to be an Entrepreneur? If you are an Entrepreneur what type of business are you in. Are you in the service side or the product side. Once you have decided what side you want to be on how will get customers. Just saying that you are an Entrepreneur will not make it happen by it’s self. It will be some tough days and long nights ahead. If you persevere and hang in there you will get to the other side.
Most of us didn’t decide at an early age they wanted to be an Entrepreneur. Some may have went to school for a trade and some may have created there passion by finding out what they were good at early in life.
Being an Entrepreneur is by choice and not by chance. Some men and women have decided that just punching the clock everyday and reporting to a JOB( J.ust O.ver B.roke) in not enough. For them the life they really desire they will have to go the extra mile. They may have start business or become an Entrepreneur.
Be consistent and staying with the process once you have decided that this is how you will manifest the income to live the type of life you want .
Being your own boss can be a blessing and strain at the same time. A blessing if you are great with time manage and a self stater. It’s fun when you are the make the money you want, working the hours you want and living the life of your dreams. It is a strain when you are constantly working at keeping the business going and not allowing things to get behind.
Can anyone become an Entrepreneur? Yes they can.
We live in one the greatest countries on the planet. Some have gone from Jail to Yale and been successful. Some have come from foreign countries with less than a dollar in their pockets and went on to be multi-millionaires. There are teens who have become millionaires with just an idea an a willingness to be teachable.Success looks good at any any age.
Point 6.How much will it take for you to become an Entrepreneur?
To think about becoming one $0.00Thoughts are FREE!!! It’s the action that is going to cost you. It is not so much saying that I believe in something as much as it is to say that I have faith in something. Here is an example. Jane says to Peter(Their married with 2 kids) ” I really believe we can join the gym and loose 30 lbs in 90 days,work a full time job with 2 young children and start back to school this semester. To formalize a plan or theorize a plan is the believing part. The implementation of that plan by registering to attend class two nights a week, signing up for the gym and going two nights a week and making arrangements for your two small children and going to the gym and school is Faith(ACTION) part. You can say that you’re an Entrepreneur but how much blood, sweat and money have you put behind what you say you believe in? The dream is FREE but your journey will cost.
Point 7.Famous People and Entrepreneurs
Famous Entrepreneurs. So you think you have the next great plan to revolutionize the world, which is awesome. How much would you be willing to sacrifice for your dream(s) How many will you try?
1)Steven Spielberg was rejected 3 times by University of Southern California , after which dropped out to become a Director.
2) 400 times Richard Branson launched companies before he founded one” out of this world” Virgin Galactic”( Virgin Airlines).
3) Colonel Sanders, who started KFC, tried to sell his fried chicken recipe to restaurants and other food businesses was turned down, get this~1009 times. Now everything is “finger licking Good”!
The big picture here is the fact that, no matter what, no matter how they heard NO, they just kept going.They had a burning desire, a commitment and faith in what they believed in. Develop a thick skin if you are an Entrepreneur and always remain teachable.
Point 8. Pros and Cons to being an Entrepreneurs.
- Control. You choose the work you like to do and that makes the most of your strengths and skills. The result can be more job satisfaction.
- Excitement. Entrepreneurship can be exciting and many entrepreneurs consider their work highly enjoyable. Each day is filled with new opportunities to challenge your abilities, skills, and determination.
- Flexibility. Entrepreneurs can schedule their work hours around other commitments, including spending quality time with their families.
- Freedom. Freedom to work whenever they want, wherever they want, and however they want draws many to entrepreneurship. Most entrepreneurs don’t consider their work actual work because they are doing something they love.
- Rational Salary. As an entrepreneur, your income is directly related to your efforts and the success of your business.
- Administration. While making all the decisions can be a benefit, it can also be a burden. Being an entrepreneur comes with a lot of paperwork that can take up time and energy.
- Competition. Staying competitive is critical as a small business owner. You will need to differentiate your business from others like yours in order to build a solid customer base and be profitable.
- Loneliness. It can be lonely and scary to be completely responsible for the success or failure of your business.
- No Regular Salary. Being an entrepreneur often means giving up the security of a regular paycheck. If business slows down, your personal income can be at risk.
- Work Schedule. The work schedule of an entrepreneur can be unpredictable. A major disadvantage to being an entrepreneur is that it requires more work and longer hours than being an employee.
Point 9. When is the best time to start a business.
Those of us who came of age during the 2008 financial crisis — which saw companies large and small shed of over eight million jobs — want control over our financial fate.Today’s opportunities have created a new lifestyle around employment. The emotional link that tethered workers to brand-name employers is dissipating as a new generation of entrepreneurs look to make their own brands — from a one-person band to a startup looking to disrupt entire industries.One thing is clear: Whether it’s a startup like Lyft or a new dry cleaner down the street, small to midsize businesses drive the nation’s economy. With the improvements ,TECHNOLOGY levels the playing feild. Instead it of it taking a staff of Accounts, Lawyers,Large Investors, Bankers, Programmers and Web Developers, all of which you may need at a certain point, but, is not needed to get started. You can start as a company of one or two people and grow start a up into a large Corporation like Microsoft.
Tech closes the gap.
Cheaper, better technology has enabled the rise of small-business owners by dropping barriers to entry, speeding distribution channels and lowering overhead. This is the case no matter where you set up shop –from Silicon Valley to Main Street America. The rise of the sharing economy, the growth of smartphone use and the accompanying app explosion have combined to drop the cost of budgeting, tracking sales, human resources and about any other business service you can name.
Despite an employment rebound — last year, the U.S. economy regained the 8.7 million jobs lost in the financial crisis — the number of “solopreneurs” rose 12.5 percent from 2011, according to a study by MBO Partners, a business services company. By 2019, the number of people who derive all or part of their income from independent work will grow “from 30 million today to nearly 40 million,”.
Point 10.Do you have to be a certain age or gender to be an Entrepreneur.
NO you don’t have to be a certain age or gender to be a Entrepreneur. The young people under 30, tend to have a decided advantage when it comes to thinking outside the box. Why, because they are new to the work life experience. Just graduating High School or college. Not too much debt. Eager to start working and their mind has not been tainted with too much negativity about life. Most are still hopeful about their careers and life ahead.Women in the under 30 crowd tend to be slightly more teachable and willing learn new things. Men in the under 30 crowd may not be as teachable with regards to learning new ways or methods of doing business.Once we feel we know, we fail to grow, and are not as teachable. We tend follow the crowd no matter which way things are evolving. Under 30 crowd is definitely more tech savvy and enjoy Social Media a lot more. This is for good because you can let more people know your status immediately and on the fly. Men and Women under 30 are great candidates for Entrepreneurship.
Men and Women over 30 let’s say from 30 to 50 have been through a lot in life. By now most will have a child or children, married,single or divorced, and probably own some property They may start to look at things from prospective of not having enough income to send their children to better school and live in one of the better neighborhoods. They may even want to go on nicer vacations. By now with money or lack of money they could be looking at options like~ going back school, getting a better paying job, moving into a less expensive house, spending less and saving more or starting a business. Creating another stream income without having to trade your time for money is where you may need to channel your inner Entrepreneurial Spirit. When you are in the 30 to 50 age group this can be a great time for right guy or gal. It can be very difficult to change your way of thinking. Most in the 30 to 50 year old age group have been taught. Go to school, get a or some degrees, get a good paying job have a nice family , nice house and live happily ever after. A lot has to go right to make this scenario possible. The 30 to 50 face an interesting challenge. You know enough by now to see what’s working and what’s not working. If you are going channel your inner Entrepreneurial Spirit you will have to “UNLEARN” and “RELEARN” some new skill sets. If you decide to change or enhance your way of doing business you will be a successful Entrepreneur.
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