So why would anyone want to take at the 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 on 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 associated with reasons based on personal circumstances. 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 home based business venture is to pursue their own ideas, dreams, and passion. While a lot of us share similar desires, only a nobody 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 worked at bringing their ideas, dreams, and john spencer ellis family passion to fruition through entrepreneurship.
Last, people become entrepreneurs to reap the dollars associated with those perceived opportunities. Why I say perceived is simply because most small do don’t. People must realize that the common entrepreneur doesn’t make funds compared to working in the traditional job, hence the reasons never dive right in. While it’s not impossible, really unlikely that you’ll 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 business owner. While financial incentives are important, it should not be considering for starting a marketplace. Instead, entrepreneurs must posses these characteristics, in case mastered, allows you to become a wonderful entrepreneur.
The best characteristic shared by successful entrepreneurs is passion. These people have an amazing amount of passion for their business and believe that the 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 any life of luxury, they’re still concentrating on their passion – Google.
Honestly, it’s not necessary to become proprietor if you don’t own passion for your business. If you are only partially committed to your business, you will not survive. In our competitive and dynamic business environment, entrepreneurs must be fully specializing in working extended hours to drive back competition while continually innovating on new products and services that’ll assist the business grow and be successful. Without passion, you’ll succumb towards the never-ending demands of your business and ultimately fail.
Focus & Tenacity:
To match the never-ending demands of your business also requires focus and tenacity. Entrepreneurs must focus on delivering value to customers by providing high-quality goods to strengthen their lives, thus creating a winning situation several stakeholders. In addition, ought to also take advantage of the tenacity to address through setbacks and failures, especially since both are inevitable. Probably will start-ups fail, entrepreneurs must always focus on the end goal and work tenaciously on achieving their mission and vision.