Are You an Entrepreneur? Check it Out
June 18th 2007 09:58
Webster's defines an entrepreneur as "one who organizes, manages, and assumes the risks of a business or enterprise." What it means is anyone who runs a small, medium, or large business; an independent operator, or one who works as part of a team or in a partnership.
People are motivated to become entrepreneurs by many things, desire for challenge, opportunity for achievement and drive to meet personal, emotional, psychological and financial needs. Some start part-time while at high school or college, targetting off-campus niches, others do it for college course work credits or thesis study. Still others find it a good career option after dropping out of college or after graduating with a developed business plan.
Many choose to go into business themselves after resigning from a job, being laid off or after retirement. A large number of these people use their current employment to prepare for the venture, either as a natural outgrowth of job-related duties and contacts or something completely unrelated.
According to The Entrepreneur's Complete Self-Assessment Guide by Douglas A Gray, most people start a business without ever completing a thorough, honest appraisal of themselves and their personal, family and business needs and goals. Without this appraisal, the potential to succeed is very limited. To ensure success, a start-up entrepreneur needs to focus on strong points, identify weaknesses, and deal with the areas that need improvement.
Gary lists some common characteristics of successful entrepreneurs, which venture capitalists, psychologists, academics, and entrepreneurs themselves believe important to achieving success. Among these are :
* Continous goal-setting. This is the ability to set clear goals that are challenging but attainable. It involves continually re-evaluating and adjusting goals to make sure they are consistent with your interests, talents and values, as well as your personal and business needs.
* Perseverance. The steadfast pursuit of an aim, persistence and continuing to strive for a goal despite temporary obstacles.
* Business knowledge. The entrepreneur must understand the basic principles by which a business survives and prospers. That means comprehending the roles management, partners and employees must perform to maintain viable business.
* Dealing with failure. You may be disappointed but should not be discouraged by failure; it's part of life and an invaluable part of the learning process.
* Self-determination. The belief that you control your success or failure, not luck, circumstance or external events. it is the belief that you can achieve the goals you have set.
People are motivated to become entrepreneurs by many things, desire for challenge, opportunity for achievement and drive to meet personal, emotional, psychological and financial needs. Some start part-time while at high school or college, targetting off-campus niches, others do it for college course work credits or thesis study. Still others find it a good career option after dropping out of college or after graduating with a developed business plan.
Many choose to go into business themselves after resigning from a job, being laid off or after retirement. A large number of these people use their current employment to prepare for the venture, either as a natural outgrowth of job-related duties and contacts or something completely unrelated.
According to The Entrepreneur's Complete Self-Assessment Guide by Douglas A Gray, most people start a business without ever completing a thorough, honest appraisal of themselves and their personal, family and business needs and goals. Without this appraisal, the potential to succeed is very limited. To ensure success, a start-up entrepreneur needs to focus on strong points, identify weaknesses, and deal with the areas that need improvement.
Gary lists some common characteristics of successful entrepreneurs, which venture capitalists, psychologists, academics, and entrepreneurs themselves believe important to achieving success. Among these are :
* Continous goal-setting. This is the ability to set clear goals that are challenging but attainable. It involves continually re-evaluating and adjusting goals to make sure they are consistent with your interests, talents and values, as well as your personal and business needs.
* Perseverance. The steadfast pursuit of an aim, persistence and continuing to strive for a goal despite temporary obstacles.
* Business knowledge. The entrepreneur must understand the basic principles by which a business survives and prospers. That means comprehending the roles management, partners and employees must perform to maintain viable business.
* Dealing with failure. You may be disappointed but should not be discouraged by failure; it's part of life and an invaluable part of the learning process.
* Self-determination. The belief that you control your success or failure, not luck, circumstance or external events. it is the belief that you can achieve the goals you have set.
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