You Need to Develop the Spirit of Entrepreneurship to Succeed in Business

(c) Copyright Bayo Bamitale 2006

Many of us are interested in starting home-based businesses or quitting our full-time jobs. There is a marked difference between the psychology of the worker and that of the entrepreneur but the great flicker of hope is that the entrepreneurial consciousness could be developed. If you are tired of your day-time job and have been thinking of leaving your job and striking out on your own, you need to think about this properly. It is necessary to examine yourself and ask whether you have what it takes to be an entrepreneur; and if you don't to go ahead and start the process of developing that consciousness. This article itemises some of the characteristics of an entrepreneur as well as the method by which those characteristics could be developed.

First, be clear about why you are starting business. Why become an entrepreneur? There are various reasons that one may consider in striking to become an entrepreneur and starting one's own business. Some strike out because they hate their bosses, some because they hate their jobs, some because they hate poverty and some because they hate commuting. Becoming an entrepreneur because you hate something may not be the right attitude. It is better to strive to start your own business because you love something. When the chips are down, you will need the energy of love to sustain you in the days of adversity. It is your love of business or entrepreneurship which will keep you going when partners desert you, or a project fails, or the tax-man comes with harassment, or you face other negative circumstances. So the first thing to do is to first settle all the hatreds and rather replace them with the love of something this is done at the level of attitude. Your attitude to business will determine your altitude in success.

Second, don't go into business tabular rasa like a clean slate. You need to develop yourself along the business line. You need to learn some accounting skills, some law, some technology and some philosophy to be a good business-person. A good way to start is to join a network marketing system. When you join, don't join because of the money although you can make a whole lot of money from this business but don't make that your focus. Go with the intention of learning, especially learning to sell. To succeed in business, you need to know how to sell. You will need to sell your business ideas to partners, to sponsors, to customers, and even to members of your work-force. And one good way to learn to sell is by joining a network marketing system and taking advantage of the great training facilities provided there.

Third, understand the difference between assets and liability. Many go out into business without understanding the difference between assets and liabilities. Your knowledge in this area is very vital to your success. So get some good training before you jump in.

Forth, understand the power of systems. A business is essentially a system. Not understanding the power of systems will convert a business-man into a self-employed, and there is a difference between a business-man and a self-employed. A good business-man puts in place a system, which works irrespective of whether he is sleeping or working. The ability to do this is the difference between a business-man and a self-employed.

One needs to take a closer look at him or herself before going into business, but every attitude and characteristics required for entrepreneurial success could be developed by paying attention to critical factors, most of which are essentially psychological.

Bayo Bamitale , a consultant ,teaches how to earn full time income working part time. His vision is to provide informational support for small scale businesses and budding

You may use this article freely provided it includes the author resource box and maintains the clickable links.

Bayo Bamitale , a consultant, teaches how to earn full time income working part time. His vision is to provide informational support for small scale businesses and budding

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