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Business Entrepreneur

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Reasons Why You Should Become An Entrepreneur

Although, it seems that almost everyone is thinking about starting a business or becoming an entrepreneur, yet, without doubt, the thought can be a little scary, if not outright frightening. Nevertheless, there are countless reasons for you to give it a shot. Whether you’re pursuing fame, money, or just an escape from having to deal with a bad boss (autonomy), it remains the best venture everyone should take. If you are reading this post, chances are you searching for that one conviction or for reasons why you should become an entrepreneur. To that I say, “welcome to that post that would change the course of nature today.”

Unarguably it is now riskier to depend on your job. Thus, my reason for writing this post on the reasons why you should become an entrepreneur. If history has taught us anything, it is that job security isn’t secured anymore and labour law protection are almost irrelevant in the face of downsizing or bankruptcy. As interesting as this article might sound, I must also postulate that this might not be the life for you.

Reasons Why You Should Become An Entrepreneur

5 Reasons Why You Should Become An Entrepreneur

1. Control your own destiny

The first reason being able to always call the shots, and having the ability to set and fulfil target for your own life. You dont get to do this when are fixed on a 9-to-5 schedule and at the mercy of your boss. In most cases, the company controls how you spend the eight hours of your life and what happens. This is why for many entreprenuers, it is the fear of being fired that motivated them to starting their own business.

The bottomline is, you are limited when working for another company and your life is determined by the paychecks you get. Regretably, things have changed and hardly will you find a company where you can work for years and retire with a pension. The new pension plan you can trust is entrepreneurship because as an entrepreneur you can chose which product or services you want to provide, and have a positive impact in people or the society.

2. Freedom

It’s fun to build a brand and earn a recognition for it. Entrepreneurship certainly comes with lots of excitement, and it gives you the ability to balance your time. For many entrepreneurs, this freedom of time is one of their most valuable resource.

But you must also understand that entrepreneurship is not a game. It involves money, responsibility and it is time demanding.

3. Potential unlimited earning possibilities

This is probably the biggest reason most people want to become entrepreneurs – for financial independence.  Entrepreneurship allows you to achieve this feat.  Fact is, if you are working for a company that is not yours, your salary is set by the job. Although, you can be promoted or get salary increase, those are exceptions not the rule. Your earning potential is fixed regardless of the time you spend at that job.

Generally, critics of entrepreneurship claim that starting your own business do not necessarily mean you’ll succeed. This is partially true. Like the analogy of “half full or half empty”, it all depend on which perspective you view it from, either from the pessimist view or optimist view. If you’re called to entrepreneurship no other career will satisfy you. Period! It is self-motivation and proper planning that drives a profitable business and anyone can fail or succeed in any other career path or venture. Truth is, no entrepreneur would be happy with the status quo of a business that earns them nothing and there lies the driving force to their success. One other significant advantage of entrepreneurship is that there are no gatekeepers to how much you can earn.

Also Read : Beginners Guide to Entrepreneurship

4, Impact

Reasons Why You Should Become An Entrepreneur

Undoubtedly, there is nothing compared to the gratification of knowing you’re responsible for the success of others.  Giving someone a job and watching them succeed can be a wonderful thing. Seeing your ideas provide someone else the opportunity to earn a living, provide for their family, grow in life and fulfill their own dreams is very gratifying. Money doesn’t buy happiness, but it does make finding happiness much easier. And if making money for yourself means you making others rich and having a fulfilled life, then what other happiness ranks up to that?

5. Leave a legacy

As an employee, it is rather unimaginable for you to pass on your career to your loved ones. But this is something you do if you are the CEO of your company, and be proud of. Passing the business to next generation comes naturally. Companies like New York Times and Ford has been passed down through the generations and continues to impact lives.

Like they say, “the road to success is not a bed of roses”, so also becoming an entrepreneur is not going to be all smooth way,  with precious stones loitering on the streets. It can get rough and messy, taking longer time than expected, but it is possible. Yes, it is very possible. But you have to be prepared for the leap.

As much as possible, avoid shortcuts, you don’t want to turn your dream into a nightmare. Always look out for opportunities to grow your business.  You’ll find them. And in all, I wish you best of luck.

 Recommended Book: The ABC’s of Entrepreneurs By Thom Singer and Bryan Menell 

 

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Simple Ways To Teach Children To Think Like Entrepreneurs 1

For a fact, one of the hardest things to do is teaching chidren how to think like an entrepreneur. Although the title boldly reads “3 Simple Ways To Teach Children To Think Like Entrepreneurs“, the reality is that teaching adults is a lot easier task than teaching children to be business minded. The Internet has revolutionalized everything we know about learning. Often people ask at what age a child is capable of understanding entrepreneurial skills. The answer is simple: as long as your child is old enough to be in school, then he or she is old enough to start learning how to be a successful entrepreneur.

Consider this, if a child is trained from the tender age to play the Violin or any other musical instrument, chances are the skill will stick with that child until adulthood. And perhaps it would evolve from skill into passion in later life. Likewise, teaching your child how to perform or execute good business skills and creativity will be immensely valuable skills for the future. Moreso, every parent should adopt this simple ways to teach children to think like entrepreneurs. Teaching children to seek out opportunities and take adequate action, will directly impact their level of future success positively.

The mistake most parents generally make is to assume that Entrepreneurs are born, not made. This assumption is totally wrong. A famous philosopher, John Locke (tabula rasa), remarked “a newborn child’s mind is a blank sheet of paper, a clean slate”, in other words everyone is born ignorant. Entrepreneurial skills can and should be taught. Every child’s future depends on learning the kid entrepreneurship skills.

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3 Simple Ways To Teach Children To Think Like Entrepreneurs

1. Allow Brainstorming

It is every business owner desire to transfer their entrepreneurial success to their children. The simple reason would be to pass on the family business but, more so, to see their child creating their own. Allowing kids space to brainstorm would help them to develop confidence, and learn how to create successful lives. Brainstorming helps them to learn how to recognize opportunities. More importantly, start them off early with the business process by investing in their start ups.

2. Coaching on Goal-setting

Teaching your child(ren) how to set and accomplish their goals would inspire them to dreaming big and nourishing ideas. Research shows that 80 percent of written goals are more than likely to be achieved. So, by asking your children to write down their goals, then chosing which goal would make the biggest positive impact, you are motivating them to start taking actions. In addition, guide them through steps necessary to accomplish this goals.

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3. Support their Success, Redirect their Failures

In school we were all taught that failure is bad. However, failure can be a great thing if a positive lesson is learned. So, educate your child to create new ways to accomplish their goals after failure and learning each time from their mistakes. This will help them to persevere during inevitable tought times and become optimistic for new opportunities. The lesson is simple:  Don’t punish your then children fail, rather discuss what factors lead to the failure and seek better ways to prevent it from happening again in the future. The idea is to turn each adversity into “learning lesson” and encourage your children to never give up.

In summary, If you can teach your child to detect a problem and devise a solution, think outside the box in order to pull resources, organize people, and create a working system that deliver solution, then you have successfully trained your child to become a successful entrepreneur.

Also Read: Simple Ways To Teach Children To Think Like Entrepreneurs

Recommended Book: Business For Kids: 101 (for beginners) – How to teach Entrepreneurship to your Children

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Qualities of A Successful Entrepreneur 2

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Qualities of Successful Entrepreneurs 1

One of the questions I´ve been asked recurrently is what are the top 5 qualities of successful entrepreneurs? More often, the questions are phrased differently, for instance: what are the characteristics of an entrepreneurs; what are the essential attributes of successful entrepreneurs; or simply what are the qualities of a good entrepreneur?

Now, if you are wondering if you have what it takes to succeed as an entrepreneur, then this is the right post for you. The reality is, there are certain qualities that entrepreneurs posses that make them who they are. This is why in the past few decades, there have been researches conducted to determine the qualities of successful entrepreneurs. These researches offer a window into what separates those who launch and grow successful companies from less successful peers.

There are so many of these attributes that famous entrepreneurs posses but having them only do not guarantee becoming a successful entrepreneur. These qualities include:

1. Vision (Starting a business idea)

2. Goal-setting

3. Networking skills

4. People management/leadership qualities

5. Ability to delegate

In essence, these other entrepreneur qualities must be ingrained into your daily activities to achieve success in your business startup.

Qualities of Successful Entrepreneurs 2

 

Here are the top 5 qualities of successful entrepreneurs:

1. An unwavering passion and Perseverance.
It might sound like a cliché, but you have to do what you love. This is the first qualities of being a successful entrepreneur. Find your passion and go for it. Although it’s easier said than done, being an entrepreneur demands a high level of perseverance, commitment and dedication. If you’re uncertain or mildy enthused about your product or service, that’s not going to sustain you through the inevitable tough times. Everyone goes through hard times but what makes an entrepreneur different from successful entrepreneur is the unwavering determination to persevere.

Start Your Own Business

Read More: Start Your Own Business, Sixth Edition: The Only Startup Book You’ll Ever Need

2. Open-mindedness.

The most successful entrepreneurs constantly seek and ask for advice.  It’s a very essential quality to never forget how much you can learn from others. Successful entrepreneur are flexible – soaking up the best practices around them like a sponge. Fear of failure can make it easy to grip onto your vision with an iron fist, but being rigid can cost you your business.

Qualities of Successful Entrepreneurs 3

3. The desire to be an expert.
Young entrepreneurs must desire challenge else they’d probably have chosen another line of work. But as exciting as it is to consider a new field, most successful entrepreneur know the benefits of staying in the same industry for a while are great. When you spend years in the same industry, you learn its history. Knowing what’s been done before can help you identify how it can and should move forward. In the meantime, you’ll build a network of relationships to support you in future endeavors, especially when times are lean. Those relationships are invaluable.

Recommeded book: The Millionaire Next Door: The Surprising Secrets of America’s Wealthy

The Millionaire Next Door

4. A forward-looking approach.
Successful entrepreneurs are always thinking ahead. They may stray from their roadmap, and that’s okay, but they have one in mind. Having a clearly established set of goals will keep you from getting stuck. Your goals may be constantly evolving, but if you don’t know where you want to go, chances are, you won’t get anywhere.

5. A constant flow of ideas.
Having one project that’s doing well is great. But the successful entrepreneurs I know don’t rest on their laurels. Instead, they’re constantly asking themselves, “What’s next?” They understand that being a successful entrepreneur is a lifestyle choice, not a destination.

Embrace these qualities and you will become a better entrepreneur.

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