Do You Have What It Takes?-owning Your Own Business
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by: JenniferThomas
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Believe it or not, One in ten adults in the United States is and entrepreneur.
Entrepreneurship is a well know factor to the economic well-being of a country both in terms of economic growth and job creation. The traditional, entrepreneurial ability used to focus on the following three attributes:
-->What decision to make - the new entrepreneur makes the most basic business policy decisions for the business, with this setting the course of the enterprise.
-->New Innovation - the entrepreneur is an innovator, attempting to introduce new products and new ways of doing things.
-->The Risk-taker - the entrepreneur is willing to risks his or her time, effort,business reputation and invested funds in the entrepreneurial venture.
THE NEW AND MODERN ENTREPRENEUR
Until recently, innovation and risk-taking, the above attributes, were the 2 dominating factors that defined the characteristics of those who wanted to become entrepreneurs.
With corporate downsizing being a fact of life and us having no control over it,some entrepreneurs find themselves thrust into the role of owning their own business by default.
For anyone who either finds themselves in this position without volunteering or is thinking about leaving corporate life for the heady world of entrepreneurship the question is, whether or not you have what it takes to win success ... in other words the "right stuff". Believe it or not, entrepreneurs are not just "born." Well, some, of course, seem to be naturally-born but for the rest of us, by hard work and application, the qualities can definitely be acquired.
HERE ARE SOME ISSUES THAT ARE COMMON
The "common denominator" issues or questions facing most entrepreneurs are planning, finance and implementation.
=> Planning
Most entrepreneurs face the challenge of starting a new business,be it through innovation (inventing something new or doing something a different way), finding the right opportunity to get into, or buying a franchise. Whichever road you choose, it will involve serious planning.
=> Financing
Unless you have saved money or have funds at your disposal,getting finance is a major challenge and cannot be attempted until your business plan is in place and up & running. You will need to prepare proposals and applications for loans, venture capital, and funds from angel investors.
=>>Implementing
This will make or break you. People think that just getting started is the hardest part - and yes that is true. But where some businesses may trip is not in the planning and financing stages but in implementing a business plan. The fact that implementation requires a broad range of skills that no one person can be adept at all of them.
The areas to think about in terms of implementation are the same as those encompassed by a broad definition of management: promotion (marketing and advertising), public relations, sales, communications, technology, computer systems, taxes, bookkeeping, finance, and the internet.
SOME PERSONAL QUALITIES
The personal qualities of the entrepreneur are equally important .
Although it is not necessary that you possess all of them, you should possess most of these characteristics: Here's a list of character traits and work ethics common to successful entrepreneurs.
=> Passion - entrepreneurs have a strong passion for their idea or concept, so much so that their work is their play. If you don't like what you do, you won't stick it out when challenges come along, as they inevitably will.
=> Professional - entrepreneurs are professional when approaching work. They operate as though they were in a corporate environment and don't allow themselves to be distracted by outside influences.
=> Curiosity - entrepreneurs need to understand how things work. They may ask many questions. Curiosity therefore triggers innovation.
=> Sponges - entrepreneurs are somewhat like sponges. They devour information about their industry or product and are always current on new and emerging trends and technologies.
=> Optimism - entrepreneurs think of problems as opportunities for improvements and new ideas.
=> Look forward- entrepreneurs are not satisfied with the status quo and are proactively carving out their future.
=> Your self responsibility - entrepreneurs take on the initiative and personal responsibility for their own success or failure (which is always a merely temporary state).
=> Competitive - entrepreneurs are naturally competitive and don't let the grass grow under their feet.
=> Usually Time conscious -entrepreneurs typically also recognize the value of downtime and time with family and will factor these activities into their schedule That said, entrepreneurs know the value of time and how to make the best use of it.
=> Nurture your entrepreneurial spirit - entrepreneurs should seek out and nurture the entrepreneurial spirit in their employees and reward them as needed.
=> You should be persistent - entrepreneurs persist until they succeed. They never give up.
=> Utililize Resource - entrepreneurs utilize Most if not All of their available resources.
Have you Looked At The Future of Owning Your Own Business
As you probably know, increasing numbers of people are electing to work from home either through telecommuting or running home businesses.While this trend has commonly been attributed to the growth in the number of working women wanting to be home for their children, over half of all people now working from home are men.
But understand what it will demand of you and whether you are prepared to give what it will take . If you have determined entrepreneurship is for you, you can be confident that you are part of the wave of the future.
About the Author
By: Jennifer A Thomas Subscribe for FREE to our Thoroughly Researched Earn Cash Daily Program. Learn Today's Internet Marketing Techniques, Tricks, and Tested Strategies. Learn to Work From Home with our Proven program -Guarranteed !
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