This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
In my role as mentor to many of you aspiring entrepreneurs, I often find you convinced that all you need to start is a unique innovation or idea , and now you are ready to jump in with both feet and enjoy the ride. Remember that being an entrepreneur is all about starting and running a business, after the initial invention.
The best part of being an entrepreneur is having the independence to make your own decisions, the flexibility for a better work/life balance, and personal satisfaction from driving change. The road to business success is filled with challenges and frustrations that most aspiring entrepreneurs never even imagined.
In my role as mentor to business professionals, I often get the question about your potential of going out on your own as an entrepreneur, versus your current role of working for a boss at an established company. If you enjoy wearing many different hats and are constantly learning new skills, you will get more satisfaction as an entrepreneur.
Out of curiosity, I often ask aspiring entrepreneurs like you, who come to me for help, what drives them to take on the workload and risk of a new startup. Of course, drivers have to be backed up by some realities, like necessary resources, adequate skills, relentless determination, and a market of people interested in supporting your dream.
For all entrepreneurs, starting a business is the route to “life, liberty, and the pursuit of happiness,” no matter how risky. According to a classic article and poll by Startups.co.uk , having the independence to make your own decisions is considered the key benefit of being an entrepreneur. If you are here in the U.S.,
Even if you ignore all the hype around crowdfunding, there can be no doubt that it is a real alternative for entrepreneurs to achieve visibility and funding today. The crowd gets the satisfaction of helping, with minimal risk, and no expectation of any high return. Product pre-order model. Donation good-cause model.
One of the simplest questions I get from aspiring entrepreneurs, and ironically one of the hardest, is “How do I start?” They just aren’t prepared for the life they want, and are really asking me how to learn to be an entrepreneur. It takes more than passion and a course on business basics. Learning doesn’t have to be all work.
Created by consultants to generate additional fees, such scores attempt to rate a company’s overall customer satisfaction. The higher your company’s NPS, allegedly the higher your customer satisfaction. A quick “No” is far more valuable to a busy entrepreneur than a nebulous NPS response of “five.”.
Created by consultants to generate additional fees, such scores attempt to rate a company’s overall customer satisfaction. The higher your company’s NPS, allegedly the higher your customer satisfaction. A quick “No” is far more valuable to a busy entrepreneur than a nebulous NPS response of “five.”.
Surviving as an entrepreneur requires unbridled passion, enthusiasm and a certain naiveté in the face of many unknowns. Of course, entrepreneurs of any age can be young at heart and equally fearless, and still able to use their greater experience as an advantage. Satisfaction is not connected to money.
Most aspiring entrepreneurs are convinced that the strength of their initial idea somehow defines them as a leader, as well as the success potential of their derivative business. It takes leadership ability, as well as a good idea, to make a successful entrepreneur, and great leaders evolve from key leadership decisions along the way.
Thus, in my consulting with entrepreneurs, I always encourage them to get more comfortable asking for help. She suspects, like me, that no self-respecting entrepreneur wants to seem weak, needy, or incompetent, and none of us like to feel indebted to someone we see as a peer or a competitor.
The best part of being an entrepreneur is having the independence to make your own decisions, the flexibility for a better work/life balance, and personal satisfaction from driving change. The road to business success is filled with challenges and frustrations that most aspiring entrepreneurs never even imagined.
One of the simplest questions I get from aspiring entrepreneurs, and ironically one of the hardest, is “How do I start?” They just aren’t prepared for the life they want, and are really asking me how to learn to be an entrepreneur. It takes more than passion and a course on business basics. Learning doesn’t have to be all work.
Anyone who works with entrepreneurs will tell you that all are different. The Opportunist is the speculative part of the entrepreneur in all of us. The Specialist entrepreneur will enter one industry and stick with it for 15 to 30 years. Of course, discovering your entrepreneur type is only the beginning.
For all entrepreneurs, starting a business is the route to “life, liberty, and the pursuit of happiness,” no matter how risky. According to an article and poll by Startups.co.uk , having the independence to make your own decisions is considered the key benefit of being an entrepreneur. If you are here in the U.S.,
Yet there will be some entrepreneurs can’t seem to make the decision to take a break. They forget that they became entrepreneurs, according to a poll by Startups.co.uk , for just this flexibility. Only 32% of entrepreneurs cited money a key benefit of running their own firm. High level of excitement. Challenge of originality.
Eighty percent of new entrepreneurs use this approach, with only six percent using investor funding. The remaining entrepreneurs borrow from family and friends, or acquire a loan. If you chose the entrepreneur lifestyle to be your own boss, don’t accept money from anyone. Entrepreneurs need to start small and pivot quickly.
Yet there will be some entrepreneurs can’t seem to make the decision to take a break. They forget that they probably became entrepreneurs, according to the recent DNA of an Entrepreneur study, for just this flexibility. This indicates that lifestyle and satisfaction factors are usually more important than financial ones.
I believe the days of the “job work” mentality are thankfully waning, with more people looking to get satisfaction by making the world a better place, rather than just tolerating brain-numbing work to fund enjoyment elsewhere. Thus a record number of entrepreneurs (and employees) are getting rich.
Every entrepreneur I know finds it a challenge to balance the joys of entrepreneurship against a set of frustrations they never anticipated. Of course, most of you expect that raising money will be difficult, as well as staving off competitors, and handling that occasional toxic customer.
Most aspiring entrepreneurs are convinced that the strength of their initial idea somehow defines them as a leader, as well as the success potential of their derivative business. It takes leadership ability, as well as a good idea, to make a successful entrepreneur, and great leaders evolve from key leadership decisions along the way.
Some pundits argue that the E-Myth principle is now outdated, due to the instant access to information via the Internet, pervasive networking via social media, and courses on entrepreneurship at all levels of education. business E-Myth entrepreneur Michael E. Hence most fail. Marty Zwilling. Gerber social media startup'
Yet there will be some entrepreneurs can’t seem to make the decision to take a break. They forget that they probably became entrepreneurs, according to a recent DNA of an Entrepreneur study, for just this flexibility. This indicates that lifestyle and satisfaction factors are usually more important than financial ones.
Most aspiring entrepreneurs are convinced that the strength of their initial idea somehow defines them as a leader, as well as the success potential of their derivative business. It takes leadership ability, as well as a good idea, to make a successful entrepreneur, and great leaders evolve from key leadership decisions along the way.
Greathouse: Your collective experiences have clearly made bootstrapping a viable option for you, more so than might be the case for a typical, younger entrepreneur who needs more direction, doesn’t have cash discipline, etc. What advice you can offer entrepreneurs validating their new products? Of course there are risks.
Most aspiring entrepreneurs I know are just waiting for that unique idea to strike them that will kickstart their new venture, put them in control of their lifestyle, achieve financial independence, and maybe even change the world. Of course, if you wait for the perfect time, you may never start. Timing is critical for every startup.
Almost every entrepreneur needs to improve their skills in this area, so I did some research on the basics. Of course the work must be done well, but your way or the highway is not the right way. It will inspire loyalty, provide real satisfaction for work done, and become the basis for mentoring and performance reviews.
In my own business career, many years as a business advisor, and mentor to aspiring entrepreneurs, I have validated the following strategies to practice and guide you. Each of these will help you in achieving success and satisfaction while tackling your toughest business issues: Stop attacking symptoms – dig first for the root cause.
The visibility of Google, Facebook and a few others continues to propagate the myth that the ultimate objective of every entrepreneur should be to take their startups public via an initial public offering at the earliest opportunity. For every entrepreneur, I recommend first a personal assessment of your goals and strengths.
Most entrepreneurs I know want to do the right thing for their businesses, as well as themselves, but they are not always sure what that means. By demand, entrepreneurs are crisis managers, and can be busy reacting 24 hours a day to urgent short-term issues. Don’t let day-to-day demands take the reins and drag you off course.
Almost every entrepreneur needs to improve their skills in this area, so I did some research in the basic principles. Of course the work must be done well, but your way or the highway is not the right way. It will inspire loyalty, provide real satisfaction for work done, and become the basis for mentoring and performance reviews.
Women entrepreneurs are starting small businesses at approximately twice the national average for all startups. In most cases, the lifestyle questions asked and the answers given are essentially the same for all entrepreneurs, whether they be men or women. Don’t forget to pay attention to strategic priorities and time for yourself.
Even if you ignore all the hype around crowdfunding, there can be no doubt that it is a real alternative for entrepreneurs to achieve visibility and funding today. The crowd gets the satisfaction of helping, with minimal risk, and no expectation of any high return. Product pre-order model. Donation good-cause model.
One of the myths I often hear as an advisor to many entrepreneurs is that their lifestyle would somehow be better if they could more easily find other people’s money to build their startup. Most entrepreneurs never forget for a moment that having investors means owing money, even if they can legally argue that equity is not debt.
With the cost of entry at an all-time low, and the odds of success equally low, more and more entrepreneurs are starting multiple companies concurrently. They skip from one to the next, providing expert guidance and money, getting their satisfaction (and reward) from the best of the best. Multiply the pay-back.
Of course, that leads to further isolation. Groups like the Inner Circle and Entrepreneurs’ Organization (EO) are perfect. Most people by nature get some satisfaction from team interaction, working toward the same goal. It doesn't have to be lonely at the top. Build a trusted team.
Some pundits argue that the E-Myth principle is now outdated, due to the instant access to information via the Internet, pervasive networking via social media, and courses on entrepreneurship at all levels of education. Hence most fail. Perhaps an innate business savvy is no longer a requirement for starting a successful business.
As discussed in Personal Pitch , entrepreneurs must cultivate the help of Donors during the early days of their adVenture. In most instances, the Donor’s compensation comes from the satisfaction of helping a fellow entrepreneur who is on the front end of her career. Entrepreneurs are action oriented and not highly contemplative.
Creating the right company culture must be a top priority of every entrepreneur and business leader. Most entrepreneurs start from a base of one or two co-founders, and their vision and focus is on developing an innovative solution, rather than developing people. Measure and measure again, and be quick to course correct.
As a long-time business advisor and mentor to entrepreneurs, I consistently find that the most thriving businesses are people-centric, and those team members create the best processes, rather than the other way around. That takes less time and gives everyone greater satisfaction.
Finding your sweet spot as an entrepreneur needs to start with a meaningful personal purpose that is also a business opportunity. Both ends of this spectrum fail to bring long-term satisfaction or success. Both ends of this spectrum fail to bring long-term satisfaction or success. Delight and deliver value to your customers.
Most aspiring entrepreneurs are convinced that the strength of their initial idea somehow defines them as a leader, as well as the success potential of their derivative business. It takes leadership ability, as well as a good idea, to make a successful entrepreneur, and great leaders evolve from key leadership decisions along the way.
More entrepreneurs want to be socially responsible these days, but fear a negative impact on profits, growth, and the ability to find an investor. But very quickly, it is becoming obvious to startups that the value and satisfaction exceeds the costs. Startups can use social responsibility as a competitive advantage.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content