Posts Tagged ‘Entrepreneur’

The Pros and Cons of Corporate Entrepreneurship

There are two kinds of entrepreneurs. First, there is the entrepreneur that is commonly associated with the noun; this person is the start-up business expert. They are the ones that take dirt and make a castle out of it. However, there is another type of entrepreneur and he or she comes in the form of a corporate business starter. That means that he or she has an expertise in growing and starting up different sections within a corporation. For any company, having an effective entrepreneurial thinker can prove to be an immense asset.

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Derek Elliott ? Entrepreneurship and Freedom

Now with smart phones being advanced, you can get connected with your network and access all your files right from the dock of your summer home on the lake. When I was talking with a fellow entrepreneur about this we laughed about how connected we are with our businesses and actually kind of like it.

The difference between being an employee in an organization and a business owner is dramatic, your level of financial and personal independence is amazing. You will be intrigued by the possibility of financial freedom and time freedom. You can live a good life as an employee, but you can't as easily experience the financial and personal freedom until you are a business owner and the owner of your destiny. As an Entrepreneur, you can experience freedom in the areas like,

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Entrepreneurship – Save Yourself!

A conventional method of earning an honest wage is known by working a conventional job. A job at a typical Monday through Friday, 9 to 5, is what most people have grown accustomed to and sees it as safe. Our current economical flaws have tainted the comfort and security of this, which is why more people now than ever are beginning to realize that the only entity that will truly be honest with them, is themselves. More and more today, people are counting the costs only to discover that what once was secure and promising is nearly a thing of the past.

There was once a time where a person would have had one or two jobs their entire lives. They would work for a company 30 years and retire comfortably. Today, the average person holds job anywhere from 1 to 3 years, if that. The dynamics of the work-force has changed so much to where it seems as if there is no dignity, no respect and no positive outlook on employment. Much of this is not only on the shoulders of employees; employers should bear the burden on this too.

You've completed high school, attended and graduated college. Or, college just wasn't your thing and you discovered other means of survival. You're educated, marketable and have already drawn a lay-out of how you're going to climb the corporate ladder. Well, if the company you work for happens to survive another month, it's not necessarily an indication that your particular position is safe.

Down-sizing, cutting-costs, out-sourcing, internal changes and whatever else they're calling it is why we need to stop and look around at those that have fallen and start making preparations. Do not panic and start looking for another job. One of two things will happen. You either won't get the job because no one's hiring anyway, or, you'll get the job and be laid-off within a year.

It has become apparent that no one is safe. Every couple of months or so, companies hold periodic budget meetings and this is where they find areas that they can either financially afford to improve on or get rid of altogether. If you're able to, have your own an exit strategy already in place. Continue to work as usual, but keep in mind that everyday someone gets cut. You may be lucky enough and survive all of this, but there's so much uncertainty.

One way to slowly transition into the possibility of having to earn your own keep, start taking your hobbies seriously. Sure, there may be some things that you do on the weekends that are pure fun and something to simply pass away the time. But go down the list and see what you find that maybe you can turn into a viable business.

I find entrepreneurship happening in one of four ways:

* After solving one of your own problems and other people coming to you for help.

* Tired of working for other people and following procedures that make absolutely no sense.

* A new way of doing something that already exists but in a more efficient or cost-effective way. Why recreate the wheel?

* Loss of employment.

To help get things moving, here is a list of questions to ask yourself:

* What are some of the things you find yourself doing in your spare time?
* What things are you knowledgeable about that keep people coming to you about?
* What things do you think about that get you really excited?
* What things can you talk about for hours on end?
* What did you always want to do for a living, but you ended up getting "a job" to pay the bills?
* What can you do with your eyes closed? What can you do without even thinking about it?
* What do people always compliment you on?
* Even at your job, what do others say you're really good at doing in the office?
* What are some of your favorite movies or music? Maybe you can create an income in entertainment?
* Comic Books are big movie-makers today. Maybe you can create a new villain, or good guy.
* Like to draw? There you go.
* Like to write? There's another one.
* Love to cook? Maybe you can cater, from home.
* Always in the mirror yourself or do you enjoy making people look their best? Go into the beauty business.
* Do you enjoy business administration? Help more than one company and become a Virtual Assistant, from home.
*Do you always have a hard time finding clothes that fit right or shoes that fit right? Create prototypes of what you like, design it and start your own line. I can almost guarantee that whatever issues you're having, others are too. Solve a problem (strong piece of advice).
* Enjoy talking to people and helping them to figure things out? Become and start your own counseling business. Be a personal Coach.
* What outdoor activities do you enjoy?

These questions should help give you ideas on where to start and how to think about this. There is tons of information on the internet that can inform you on how to actually get started on your way to entrepreneurship. Best of all, many of these can be done from home.

People go into business for themselves for many reasons. Some have a choice and have the money, and some loose their jobs and have no choice. A lot of us are somewhere in between. Find your place and start living out your dreams. Entrepreneurship is not always easy, but it is very rewarding. Do a lot of research, take good notes and calculate your costs. But the most important thing is to take one step at a time. Time, effort, knowledge and passion for whatever you decide to do, will get you where you want to be at the right time.

Wishing you the best success.

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Entrepreneurship-An Alternate Career Choice

Entrepreneurship-An Alternate Career Choice

If you've recently started your own business-or if you're thinking about it-you have a lot of company.Becom ing a home based entrepreneur is not just a career choice but also a lifestyle choice which more and more people are choosing day after day.
While many individuals go on their own internal reasons-a passionate need to be independent, a burning desire to turn a hobby into a profession, or the love of a challenge-others have chosen the entrepreneur route in response to external situations, including layoffs, frustration with their current workplace culture, or a need for greater flexibility in their lives.
Just as the dream during the 1950's was to buy and own our own homes, working for yourself (especially from home) is the dream of the 21st Century.However becoming an entrepreneur isn't for all.It's important to consider whether you have what it takes to start a business and run it successfully.
You've probably heard that start-up statistics are grim.What you need to know is that around 30% of businesses that are started at home survive longer than 5 years. Stories of overnight successes and young millionaires are rare. The era ended two years ago, and venture capital money is increasingly hard to secure. The hardworking, determined, visionary who dedicates long hours and endless energy to his or her business is the more realistic picture of today's entrepreneur.
Entrepreneurship comes with many hurdles both internal and external ones.They still need to offer exceptional service and top class products like any other business. They need to manage cash flow and maintain profitability and hire and retain the right mix of people. Externally, factors such as access to financing, the economy, government regulations, and technological issues impact entrepreneurs on a regular basis.
Many small businesses fail because of weaknesses in general management, financial management, and marketing (Statistics Canada, "Failing Concerns: Business Bankruptcy in Canada"). Michael Gerber cites the "entrepreneurial seizure" as a primary reason for failure in his book "The E Myth, Why Most Small Businesses Don't Work, and What To Do About It." What is made evident by Michael Gerber is that many entrepreneurs fail in realizing their dream by assuming that understanding the technical side of the business is enough to enable them to succeed. There are many more aspects to a home based business than that.
To avoid becoming a casualty of the start-up craze, it's critical to be aware of the pros and cons of running a business.There is no get rich quick scheme out there. The potential sure is there to earn a lot of money and a great residual income but you have to be willing to put in the hard yards and go through the dirty work needed to get there.
Are you the right person to become an Entrepreneur?
One recent study of entrepreneurs (William E. Jennings, "A Profile of the Entrepreneur") asked subjects to rank several traits and attitudes related to business ownership in order of importance.
Results showed the most important attributes to be:
" Perseverance
" Desire and willingness to take initiative
" Competitiveness
" Self-reliance
" Desire to Achieve
" Self-confidence
" Good physical health

Filling out the bottom of the list were some surprising attributes, including a strong desire for money, patience, organizational skills, and a need for power.Today's entrepreneurs are more interested in competition and achievement than money or power.
By asking youself these questions then you can start to work out whether you have what is required to successfully start and carry on your own home based business.
" Are you willing to do that hard work and put in the time and effort required to get started?
" Do you want to bear the responsibility for all business decisions and responsibilities related to your company?
" Are you independent, disciplined, and committed to entrepreneurship?
" Are you willing to play a number of roles within your business?
Where Do You Start?

Research, research, research! Reseach in to the industry you are wanting to get into, and ensure you look at both positive and negative aspects. Talk to other entrepreneurs about what has worked for them, and read relevant trade journals, books, and business publications. You must be willing to learn daily and keep up to date with all current dilemmas facing this industry.
It is essential then to develop of comprehensive business plan.This is especially important if you are going to require outside funding to commence your business.All successful businesses whether online or not have a business plan in place. Set goals for your business, then break the goals down into achievable steps. A good plan will help you maintain focus when things become overwhelming.

Networking can begin immediately when starting a business. Don't burn your bridges at your current job, keep good relationships with current workers.When networking is done well it can establish mutually beneficial relationships.
Other aspects you also need to consider are :
Financial aspects such as amount of capital requirement to start-up and obviously if you can find an opportunity with low start up costs then that is great. However, remember that all businesses need capital to start.

It can be difficult to start from scratch and be assured that there are a lot of entrepreneurs out there who continued to work their initial job whilst starting their entrepreneurial business until things picked up. Be patient.
If you are going to continue working in your current job then it may at times feel quite overwhelming.Remember to carve out time for friends, family, and fun. If you can find a business that can help you along with things such as automated marketing systems, training and support etc then this will help you spend your time wisely and focus on building your business.
In closing, please remember that becoming an entrepreneur is not for the faint-hearted. If you are willing to work hard and learn then stop looking for the magic formula, which doesn't exist. Your dreams can come true with work and perseverance.

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