Entrepreneurship - Are You Ready? 10 Truths to Handle

Friday 13 July 2012

Are you whispering to yourself "I want to be an entrepreneur?" So, are you ready to launch your entrepreneurship venture? An entrepreneur should be honest about his or her strengthens and weakness. If you're not sure about them, then you'll not be able to focus on your strengths and deal with your weaknesses. This may lead to failure of your entrepreneurship venture. There is always a way you can deal with your weakness either by yourself or through others.

Let me tell you on this day, if you start your entrepreneurship venture for wrong reasons you're likely to fail no matter how viable it is. Again, if you're waiting for the perfect time to commence your entrepreneurship venture beware that it will never present itself. Just get started if you have what it takes to be an entrepreneur!

Not all people will agree with your business idea, it may sound to be a silly idea. In such moment it is good for you to remain foolish and motivate yourself to work hard while at the same time you remain smart in every step you make. Belief in yourself and continue doing what it takes to be an entrepreneur.

I don't know about you but for me I have learned what entrepreneurship entails and still I am yet to learn more of it. Starting a business as an entrepreneur requires you to really work hard, in some occasions to sacrifice your social life and also your finances. Again, you might do all it takes to be an entrepreneur but still your entrepreneurship venture fails. Hey, I am not saying this to discourage you (I will never do that) but it happens in real life.
Being an entrepreneur can be an interesting career at the same time very challenging. There are some entrepreneurs who work very close with their employees and this leads them to have a working relationship that is good. As an entrepreneur, do you have a good relationship with your employees? Do you motivate them? Motivating yourself as an entrepreneur is a crucial thing to do. If you don't then it will be very difficult for you to motivate your employees.

Don't be misled; entrepreneurs don't live the lavish lifestyles you think of. In fact, they live a simple life and they're philanthropic. Therefore you should not perceive entrepreneurs as people who are after making money but instead you should perceive them as those people who are striving to make a difference in bettering the lives of people in many ways through their ideas.
What if I tell you that you can start a company and later on you get fired from the company that you had put a lot of effort in establishing? This has already happened to some entrepreneurs.

1.) You don't have to start big. Start small and gradually build your company each day. The growth of an entrepreneurship venture is a continuous process.
2.) When things don't work out don't start blaming your employees or other people. Remember you made a decision of becoming an entrepreneur and no one forced you. Instead of blaming your employees or other people you should listen to your intuition. Find a solution.

3.) Although you should earn a living through your entrepreneurship venture, you're not into it to be famous or to be a millionaire if not a billionaire. When you get started you'll earn less money until your entrepreneurship venture earns sufficient net profit.
... the typical profit of an owner-managed business is slim ~ By Scott A. Shane in his book The Illusions of Entrepreneurship.
4.) Many young entrepreneurs who are starting out may be tempted to listen to doubters. Never listen to those who doubt your entrepreneurship idea. You listen to doubters you lose your focus. During difficult moment you're likely to hear these words, "Remember I told you this business idea won't work. You could have continued... " I say to you once more "stay focused, period!" Even big companies face difficult moments and some of them have been forced to retrench their employees as a survival tactic. Some companies have been forced to shut down.

5.) You should give your employees opportunities to apply their creativity. Don't be an obstacle to their creativity. Listen to their opinions regarding new methods and strategies.

6.) You should always learn new things that will help you to improve the performance of your business. Learn from entrepreneurs who have already done it. There is no age limit for an entrepreneur to learn new things.

7.) Delegate work/tasks to your employees. This will enable you to focus on doing what is important and what you love doing. The tasks that you hate doing can be delegated to your employees who love doing them.

8.) Build a strong team work to work with. Building a strong team of employees to work with is a very important step that you should take. If you have a strong team work, your employees can do an excellent work beyond your expectations.

9.) Study other entrepreneurship ventures of the same market niche as yours.
10.) Lastly don't work blindly. Set goals and work according to them. Keep on doing the same good work and you should not forget to check periodically the progress.
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Dupe K. said...

This is the most enriching piece I have read so far this morning and I have read plenty today. I recommend this to aspiring and even seasoned entrepreneur

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