The following excerpt is from Wendy Keller’s book . Buy it now from | | Did you like math in school? I didn’t, but I sure do like it now. As entrepreneurs, how….
The Energizers of Small Business
Entrepreneurs are energizers who take risks, provide jobs, introduce innovations, and spa rk economic growth. .. Let’s first put aside what they have done. We just examine what they really are? What the characteristics of this breed of people? What makes them being so distinctive? That’s not surprising. First most of the entrepreneurs are actually inspired by certain profit return. Therefore other entrepreneurs also expect a return that will not only compensate them for the time and money they invest but also reward them well for the risks and initiative their own businesses.
With such typical mind-set, they want to do everything the best and gain respect. That’s explains why most of them have done well in providing levels of service and quality that exceed those of others. They even have to compete with themselves. As long as they take failure as a process of learning experience and believe that success or failure lies within their personal control or influence, there will be nothing fearful. This leads to the next distinctive strengthen of the entrepreneurs. In fact, independence is one of the most important incentives for entrepreneurs.
They believe in themselves and want to make their own decisions, set their own schedules and reap their own profits. They want to be their own bosses. Taking risks can be small first steps, like placing your first advertisement in a mail-order publication. It is different from gambling. They just take the moderate risks, which mean that they prefer risky situations in which they can exert some control over the outcome. They are always thinking of new ideas and new ways to make money or increase their business. They are not afraid to put these ideas to use.
So ages or certain education is not a must for being an entrepreneur. In general, entrepreneurs are people who have high energy, feel self-confident, and set long-term goals, and view money and financial security as a measure of accomplishment and piece of mind. They persist in problem solving, take risks, learn from failures (their own and from others), take the initiative, accept personal responsibility and use all available resources to achieve their success. The characteristics that list above are just the basic inhabited qualities of an entrepreneur. There are still other demands when face with actual problems.
An entrepreneur will constantly face a great deal of ambiguity or uncertainty. Structure and fixed schedules are impossible for becoming an entrepreneur. They have to assume series of risk that might happen. E. g. the frustrations of reaching a satisfactory profit level; the possibility of business failure; they might also risk their careers, finance and families. They must have the tolerance for risking everything they have to an ambiguity future. It is not necessarily to be a tremendously creative person to be an entrepreneur. However, you do need open-mindedness.
Here open-minded not only means to be open to new ideas but also means to be prepared for certain failure and mistakes. Being closed-minded, one will have a difficult time identifying market need and discovering how to market your business. The early entrepreneur is normally alone. One must know how to both advocate your ideas and be skeptical of them, revising them when necessary. You will have no boss to point out your mistakes, and if you think you aren’t making any, you will quickly discover otherwise. Alternatively, if you are mired in self-doubt, you will not accomplish anything and will not motivate other people to follow you.