entrepreneur

To be an entrepreneur, business owner

Do I have what it takes to be an entrepreneur?

To be an entrepreneur? Entrepreneurship is often seen as an exciting and rewarding career path, with the potential for financial success and personal fulfillment. However, the decision to become an entrepreneur is not one that is taken lightly. Indeed, it requires a unique set of skills, personality traits, and a willingness to take risks. So, what motivates a person to become an entrepreneur? The answer to this question is complex and multifaceted, as there are many factors that can drive someone to start their own business. For some, it may be a desire for financial independence or a need to escape the confines of a traditional job. For others, it may be a passion for a particular product or service, or a desire to make a positive impact on the world.  Additionally, some may be motivated by a need to prove themselves, or a desire for creative freedom and autonomy. Whatever the reason, it is clear that entrepreneurship can offer a range of benefits. For example, the potential for financial success, personal growth, and the satisfaction of building something from the ground up.  However, it is important to note that entrepreneurship is not for everyone, and it requires a great deal of hard work, dedication, and perseverance to succeed. Nonetheless, for those who are willing to take on the challenge, the rewards can be substantial, both personally and professionally. To be an entrepreneur is to start your own business Starting your own business requires a unique set of skills and personality traits. While there’s no one-size-fits-all answer to this question, there are certain characteristics that may indicate whether or not you have the right personality to start a business. Here are some traits that are commonly associated with successful entrepreneurs: Keep in mind that these traits are not set in stone, and you don’t need to possess all of them to be a successful entrepreneur. However, if you find that many of these traits describe you, you may have the right personality to start your own business. The story of John whose wish is to be a Business Owner  “Sacrifice is a great art. It goes without saying that if you focus on too many things, you’ll do none of them well” – Steve Jobs John had just finished Grade 12, and he had always dreamed of studying business economics at university. However, he was devastated when he found out that he didn’t qualify for a business loan, which meant that he couldn’t afford to pursue his dream. John lived with his grandparents in Johannesburg and had been seeking permanent employment, but he had not been successful so far. One day, John came across an article about young entrepreneurs who had started successful businesses, and it sparked his interest. He began to wonder if he had what it takes to become an entrepreneur himself. John knew that he was a good communicator and had done well in bookkeeping at school, but he was unsure if he had the right qualities to start his own business. To start his entrepreneurial journey, John needed to take some practical steps. Here are some suggestions on how he could get started: While John may face challenges and setbacks along the way, he can take inspiration from successful entrepreneurs who have overcome similar obstacles. With hard work, dedication, and a willingness to learn, John could become a successful entrepreneur and achieve his dreams. Concluding In conclusion, the desire to become an entrepreneur can stem from a variety of reasons, including financial independence, personal fulfillment, creative freedom, and a desire to make a positive impact on the world.  While entrepreneurship requires a unique set of skills and personality traits, it is not limited to a select few. Anyone can become an entrepreneur with the right mindset, willingness to learn, and determination to succeed. Successful entrepreneurship can have a positive impact on both the community and the individual’s family and friends. It can create jobs, stimulate economic growth, and improve the standard of living in the community. Additionally, successful entrepreneurship can provide financial stability for the individual and their family, and can serve as a source of inspiration for others. However, it is important to note that entrepreneurship is not without its challenges and risks. It requires hard work, perseverance, and the ability to adapt to changing circumstances. Nonetheless, for those who are willing to take on the challenge, entrepreneurship can be a rewarding and fulfilling career path. Do you have what it takes to be an entrepreneur? Read also: From Rags to Community Leader, a Good South African Story Feature Photo by Anna Shvets Affiliate Disclosure: This blog may contain affiliate links, which means that if you click on one of the product links and make a purchase, I may receive a commission. This commission comes at no additional cost to you. All opinions expressed on this website are my own and are not influenced by any affiliate partnerships.

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Three Good Reasons to have a Business Plan before Starting your Business

It can be a rather disrupting thought, starting your own business… It’s tantalizing, smelling of power, glowing with esteemed status and good fortune. But this starting your own business thing is, sadly, mostly scary, and intimidating at best. It is something you can’t conquer without a plan. Hence, we suggest three good reasons to have a business plan before starting your business… In spite of having access to more knowledge than ever before, you’ll need a well prepared and structured business plan to help give you the first steps on your new journey… The three good reasons to have a business plan are as follow: To focus on your business; To secure funding, and To get people to invest in your business.

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Mastering the Science of Business. Is it worth the trouble to get a University Degree?

Is it worth the trouble to get a university degree? Is that a fair question? If not a degree, then what is the alternative? After all, the ‘new normal’ post the COVID era will be anything but normal. There you have it. Here in South Africa there’re lots of movements, at least one for every issue that we can think of. Indeed, there is even a movement that represents unemployed graduates – The Unemployment Graduate Movement (UGM). That’s scary, because I thought that once you have your bachelor degree, you can walk in almost every job.

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Are Angel Investors Divine Interventions or are they Devils in Disguise?

You’re battling in vain for months now to get someone or somebody to buy into your groundbreaking business idea. Indeed, you’ve spent lot of time and money to get funds from your bank, other banks and small business development institutions. Sadly, there’s not a glimpse of hope, not even an invite for an interview. Giving up hope, you’ve decided to terminate your project. However, luckily for you, someone suggested that you should apply to get funded by angel investors. Wow, what a break! That intervention has changed your life for the better… So, are angel investors the solution for small businesses and start-up funding problems? Who are Angel Investors?

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Lean Start-ups and Business Plans

Lean Start-ups are used for developing products and businesses based on ‘validated learning’, getting customer feedback quickly and often. It was introduced by Eric Ries during 2011 (1) with the objective to eliminate uncertainty in the product development process. Since then, this practice has transformed the way companies are developed (Natasha Hussein, Entrepreneur). Most astonishingly was the news that Lean start-ups have made business plans redundant. Indeed, a whole industry has grown up around the idea that business plans are now no longer necessary, says David Ehrenberg, Young Entrepreneur Council in the Chicago Tribune.

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The Business of Taking Risks

Taking risks is common behavior. Indeed, taking risks is for many of us a means to an end. In fact, without taking risks, neither your business nor you will ever know your true potential, says John Benjamin in the Tribune. But why is taking a risk so easy for some and, on the other hand, so difficult for other? It has a lot to do about who we are, and the environment we are operating in. What does taking risks mean? According to the Collins Dictionary, risk-taking means taking actions which might have unpleasant or undesirable results. So it is something you do as a result of a decision you’ve made. And most of the time something or someone has triggered you to make a decision 1.

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What Traits do a Business Owner Need to be Successful?

Well I nearly fell of my chair when I started to jot down the traits a business owner needs to be successful. The first seven post that I’d read, identified no less than 42 different traits a business owner or entrepreneur needs to be successful. I’m convinced that a business owner that possesses all 42 traits hasn’t been born yet, or is locked up far away to keep him or her away from harm (and society). Nevertheless, I’ve listed the 42 traits somewhere in a table… But why a business owner (also [sometimes] called an entrepreneur), needs to be different from an ordinary working person?  Maybe it’s because a business owner earns her living in an extraordinary environment…

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Franchising as a Business Opportunity

Franchising provides the entrepreneur with an opportunity to enter the world of small business without all of the risks usually associated with starting a business from scratch 1. Indeed, the popularity of franchising continues to increase, especially with the emergence of new e-business models 2. However, as with any business start-up the franchisee (you) needs to know what the franchisor (the brand) has to offer. Also, you need to consider the costs and your responsibilities when signing a franchise agreement. “Remember that no franchise is perfect, and that every franchisee will have things they like about the system and things they don’t like”, says Chris Myers in Forbes. But first let’s have a look what franchising is all about…

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Home-based business – Important Startup Strategies

[simple-author-box] There are millions of entrepreneurs that do their business from their homes. In fact, according to IncFile.com, home-based business was done by at least 38 million Americans during 2017. Although the idea of doing business from your home sounds informal and casual, entrepreneurs should do the following suggests Casey Kelly-Barton in the HostGator Blog.

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Borrowing Money from a Bank to Start your Business

Borrowing money from a bank to start your business is not an obvious option for prospective business owners. Unless you are well known, with a track record of starting and running successful businesses, no formal sources of capital are likely to invest in you in the early stages of your business 1.  Banks usually require an operating history to reduce their risk.

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