Business & Finance Corporations

Baby Boomer - Do You Have What It Takes to Be an Entrepreneur?

Many entrepreneurs can boast an excellent income and a business that works.
Even more numerous are those who enter this market with hopes of becoming their own bosses.
But it's not that simple...
What is an entrepreneur? The dictionary gives the following definition: "an entrepreneur is a leader who builds and manages its own business", but for many it means much more than that.
Here are some of the features associated with an entrepreneurs: 1.
An entrepreneur is launches his own business without having sufficient financial resources.
Few people are indeed able to enter the market without capital or salary.
Entrepreneurs are able to seize opportunities, whether they can afford it or not, and make money in creative or original way.
2.
An entrepreneur takes calculated risks.
More he takes risk, more they earn money.
3.
An entrepreneur may engage in the creation of a business without special skills or knowledge.
This may have negative connotations for many people, since many entrepreneurs have gone bankrupt for lack of income, and therefore have put their customers, vendors and associates in hot water 4.
An entrepreneur has the ability to chain start-ups.
Many entrepreneurs are actually "serial" entrepreneurs.
They use what they learned on the job and apply it to other areas and other markets.
They can therefore have multiple businesses or sell a company to create an another.
We will use all these aspects to create our own definition of the entrepreneur.
For our purposes, we will agree therefore that an entrepreneur is someone who has the motivation and vision necessary for business creation.
To be your own boss, at least long term, is more rewarding and more secure than working for someone else.
Entrepreneurs want to choose their wages and are therefore willing to take some calculated risks to achieve it.
1.
To feel able to start his own business.
If you are considering starting your own freelance business, or other type of business, you must first ask yourself, if you have the capabilities required for such an undertaking.
It may seem difficult to work alone or at home.
The security of a regular salary that ends up in your bank account at the end of the month will be missed if you have nothing on which to rely in case of failure.
Here is a list of characteristics common to all entrepreneurs.
May be you already have some? 2.
Know your strengths and weaknesses You need to know what you are capable of and admit your faults.
Focus on what can possibly promote your business, and expand it, but you avoid what it is you are sorely lacking.
If your fault is a lack of knowledge, just take lessons.
If you lack capacity you should be thinking about outsourcing some tasks.
In the business world, there is the SWOT analysis (an analysis of strengths, weaknesses, opportunities and threats) that you can use to learn about what are the qualities you can count on and what weakness to correct.
For example, if you're a good salesman but a poor accountant, you should find an accountant for your business and focus exclusively on the sale.
The athletes, Lance Armstrong who has devoted all his training for the Tour de France (and has won seven times!), focused solely on the quality of his training.

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