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Archive for the ‘Entrepreneurship’ Category

Well, according to some people, entrepreneurs are great thinkers and so they must be spending most of their time thinking of what new things they can offer to the world. This may be true and if you're a tiro in the field of entrepreneurship, you have to get the best entrepreneur idea guide to get you started.

Entrepreneurs are generally business people. However, this is only half of who they really are. You see, many of them are efficient in founging new ideas and deal making. Through the available circumstances, an entrepreneur can uncover new ideas and then turn them into a good deal. Most of the entrepreneurs are ever concentrate only one business venture. Their primary aim is to earn money so they will try to venture into all kind of businesses as long as it provides a profit.The business ideas made by a certain entrepreneur are often found in archives. This is because some business ideas may not be executable at present and so they keep it for future use or reference. Those business ideas which have higher market executability are investigated further and if in case the entrepreneur decides to act on the idea immediately, he will put such ideas to work and earn money.

Entrepreneurship is a "take" and "care" of the psychological battle is a difficult decision on the future way of life! Believe the business friends, many are like me, always hovering between choice. Work, family, career, environment, self. This modern youth have to face the top-five choice factors.

Work. I believe many of my friends will have a job, or very satisfied or very satisfied, or indifferent. Satisfaction with workplace active, and earnest effort to obtain a satisfactory return, in order to seek development, it is a virtuous circle; unsatisfied with their work may have many complaints, so feel no future, no space, trying desperately to change the status quo , depression, this is a vicious circle; But whether satisfaction and dissatisfaction, but also required for the human temperament and strength, some people get 5-6 million a year to sit authorities, not satisfied; someone to do secretarial work, take 3-4 year, and satisfied.

The practice of entrepreneurship often takes place when individuals with a keen eye for markets spot an as yet unexplored avenue of opportunity. There is no doubting the difficulty of such undertakings and a vast majority of new businesses fail, however, if your <a rel="nofollow" onclick="javascript:_gaq.push(['_trackPageview', '/outgoing/article_exit_link']);" href="http://www.thecompanyshop.ie/">Company formation</a> plan is intelligently constructed then there will be a higher chance of a favourable outcome. In 1950, the economist Joseph Schumpeter defined an entrepreneur as a person who is willing and able to convert a new idea or invention into a successful innovation. And above all enthusiasm for the venture is ultimately needed.

Although failure renders the entrepreneur vulnerable to many dangers, the advantages of success are manifold. Most obviously there will be enormous personal financial gain, but also the innovation will create jobs for others, boosting your country's economy. If the entrepreneur is entering into an already established market the venture will create healthy competition, thus encouraging higher product quality.

Up and coming entrepreneurs from the National College of Ireland have won the title of being the winner of the Newstalk 106-108fm Student Enterprise Competition. The winners managed to beat off opponent finalists from the Institute of Technology Carlow, Dundalk Institute of Technology, and Cork Institute of Technology. On congratulating the winning team, Denis O'Brien said, “Their hard work demonstrates what the competition is all about – fostering a spirit of enterprise among students by encouraging teamwork and solution-driven approaches to business challenges.” The winning team and their coach, Rosalind Beere, get to travel to the Caribbean this summer to shadow decision makers in Digicel's operations. Digicel being the Caribbean's fastest growing telecommunications operator and a new entrant in the Central American Market.

But entrepreneurship does not solely apply to brand new ventures, it can also be employed to revitalise mature organisations. Old companies who have found their services decrease in popularity may find it advantageous to recruit new and inventive thinkers to refresh their products and/or services, and in turn give the company a new lease of life.

A life spent making mistakes is not only more honourable, but more useful, than a life spent doing nothing.
George Bernard Shaw

According to Global Entrepreneurial Monitor (GEM) fear of failure is the top reason given in Ireland and worldwide by aspiring entrepreneurs for not starting their own businesses.

NESTA – the National Endowment for Science, Technology and the Arts and the UK’s largest early stage investor in innovative and creative businesses – found that almost three quarters of people who said they had what they believed was a good business idea were not acting on it because they were afraid of not succeeding.

Ironically on further examination it is obvious that all would-be entrepreneurs are being paralysed by something that doesn’t exist.
That’s right. Failure is a myth!

You have already shown that in your own life, you certainly don’t need a motivational speaker to prove this!

Entrepreneurial Development – Failure Brings you Closer to Success!

Thomas Edison, inventor of the light bulb famously said “I have not failed. I’ve just found 10,000 ways that won’t work.”

It took James Dyson, the engineer who reinvented the vacuum cleaner, four and a half years and 5,127 prototypes to refine his design.

“Each failure taught me so much,” he said. “Success teaches you nothing. Failures teach you everything. Making mistakes is the most important thing you can do.”

In an interview with Time Magazine, Larry Page, inventor of Google, said, “Invariably we try ten things that don’t quite work out in order to do one thing that is successful. And we learn a lot in doing the ten things that didn’t quite work.”

Thus every failure brings you a step closer to success and moves you further down the path of entrepreneurship.

Ironically by embracing this truism you mastered your first two major challenges in life – walking and talking.

Remember: As a child, ‘Never say die’, ‘Have no fear’, ‘Try and try again’, ‘Enjoy the moment’, were your working metaphors.

You fixed your eye on the goal, took your first step – wobbled a bit – steadied yourself. Then another step. Then landed on your backside!

What happens then? Did you give up? Did you say to yourself ‘I tried my best and I can’t do it. It hurts. I’m never doing that again!’? Did your ego kick in and start whispering ‘you’re making a fool of yourself. They’re all laughing at you! Better quit while you are ahead.’?

No indeed, as each one of us is born with an innate desire to reach our full potential, you got up and tried again ultimately succeeding.

Model off past childlike strategies in the future and master the art of entrepreneurship!