So why would anyone want to take throughout 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 of your primary reasons people become entrepreneurs. Rather than 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 business venture is to pursue their own ideas, john spencer ellis travel lifestyle 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 to start their own business 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. The reason why I say perceived is simply because most small do lose. People must realize that the common entrepreneur doesn’t make more money compared to working with just one traditional job, hence why many never make the leap. While it’s not impossible, extremely unlikely that you might reach a level like Larry Page and Sergey Brin (Google), and also 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 shouldn’t be the biggest for starting a business. Instead, entrepreneurs must posses those 3 characteristics, any time mastered, will help you become an exceptional entrepreneur.
Passion:
The best characteristic shared by successful entrepreneurs is passion. Individuals have an incredible amount of passion for their business and believe that their organization will positively influence our human race. 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 acting on their passion – Search.
Honestly, nobody become proprietor if you certainly passion for an business. When you are only partially committed to your business, you will not survive. In our current competitive and dynamic business environment, entrepreneurs must be fully specializing in working extended hours to fight off competition while continually innovating on services and services that’ll conserve the business grow and good results. Without passion, you’ll succumb on the never-ending demands of company is and ultimately fail.
Focus & Tenacity:
To meet the never-ending demands of on the web also requires focus and tenacity. Entrepreneurs must concentrate on delivering value to their clients by providing high-quality goods to better their lives, thus creating complete situation for every individual stakeholders. In addition, they must also take advantage of the tenacity to address through setbacks and failures, especially since both are inevitable. Since the majority of start-ups fail, entrepreneurs must focus using the end goal and work tenaciously on achieving their mission and vision.