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 of becoming your own boss is one of your primary reasons people become entrepreneurs. As compared to 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. Some 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, Case studies John Spencer ellis only a few people 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 protected from 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.
Last, people become entrepreneurs to reap the financial rewards associated with those perceived opportunities. The reason that I say perceived is because most small do not work. People must realize that the average entrepreneur doesn't make more compared to working at a traditional job, hence why many never dive right in. While it's not impossible, it's very unlikely that you'll reach a level like Larry Page and Sergey Brin (Google), or even Jerry Yang (Yahoo). To me, it is rarely a choice to make financial rewards the primary motive for becoming an entrepreneur. While financial incentives are important, it shouldn't be comprehend for starting a business. Instead, entrepreneurs must posses these three characteristics, whenever mastered, will let become an exceptional entrepreneur.
The single most important characteristic shared by successful entrepreneurs is passion. These individuals have a major amount of passion for his or her business and believe that their organization will positively influence our economy. A prime example is Sergey Brin and Larry Piece. Both individuals have more than enough money to survive for several lifetimes. But rather than retiring with life of luxury, they're still acting on their passion - Bing.
Honestly, it's not necessary to become an entrepreneur if you don't have passion for an business. If you are only partially committed business, you will not survive. In our current competitive and dynamic business environment, entrepreneurs must be fully bought working extended stays to defeat competition while continually innovating on new products and services that'll profit the business grow and good results. Without passion, you'll succumb to the never-ending demands of company is and ultimately fail.
Focus & Tenacity:
To match the never-ending demands of your business also requires focus and tenacity. Entrepreneurs must concentrate on delivering value to consumers by providing high-quality goods to strengthen their lives, thus creating a winning situation for all stakeholders. In addition, should also let the tenacity to fight through setbacks and failures, especially since both are inevitable. Will certainly start-ups fail, entrepreneurs needs to focus within the end goal and work tenaciously on achieving their mission and vision.