There is no such thing as a balanced work- life when you decide to be an entrepreneur
I often come across hard working people who are brilliant and passionate, but I’ve also encountered many who seemed lost and completely unmotivated and, perhaps, on the verge of giving it all up. For what? For the simple fact that they have a hard time facing adversity. Which one would see it as shocking, since we are living in America, and, well we are supposed to be the perfect example of what working hard should be.
The truth is, I am surprised to see so many people unprepared when it comes to taking business initiatives, as much as I have a hard time understand how in this country, where ideas and willpower have shaped our modern society, entrepreneurship
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That’s when hard work comes to play.
Remember that to be an entrepreneur means working harder than anyone else
Here’s a thing with entrepreneurship; you make up your own team, you generate your own finances, not to forget that you make all the management decisions, and the list goes on. This is the job of one person, and that’s because everything you do must lead to a satisfactory result, which could be, for instance, making a profit or closing a deal. In other words, everything that you do must always be done for one purpose, which is to accumulate successes and in turn, generate enough money for you and your business. That is why you must work harder than anybody else. People who work for the government, for instance, receive the same amount of pay every two weeks, or at the end of each month by doing the same thing every day, but you, you are faced with a different reality where you will have to optimize your efforts because you are animated with the will to do better than the last time. So, here, instead of generating the same amount of pay, your pay either increases, decreases (when you are not doing so well) or stays constant. You, as an entrepreneur have three different possible outcomes and for each case you are expected to
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In other words, you must always do a little bit more than anyone else, for the simple fact that you can only rely on yourself.
Take note of the true meaning of sacrifice before you begin
Another thing that anyone who wishes to become an entrepreneur should know is the fact that sacrifices need to be made. This, for instance, could mean that you will not always have the freedom to spend time with your family or even take care of yourself. This is something you cannot change and that you will have to accept once you’ve decided to be your own boss and most of all, you’ve decided to become a successful self-made individual.
What I want you to understand is that you will not always have enough time for your children, or your lover, because every type of efforts you will need to put out in order for your business to function will determine your outcome. Here the outcome can be more cash, a great network of people and of course
In the article, “The Top 5 Reasons most people fail”, it states, “...we have to take action in order to get somewhere.” Chris Gardner needed to take action for the sake of his family. He went from door to door, and no matter how hard he tried, he was barely scraping by with the funds of his medical machine. There was an opportunity for a job at Dean Witter and Chris Gardner took the opportunity in a heartbeat. He lands a spot amongst the 20 interns competing for a paid position as a stockbroker. Chris Gardner did not know where to start however he put in as much effort he could put in to get there. When an individual takes on a big role, there is that voice in the back of the head saying they can not handle the task ahead of them. This can further lead to the feeling of depleted motivation and irresponsibility. Having the willpower to fight off the voice and conquering the task can determine a person’s grit and can further validate their
Success without adversity is impossible. Everyone in life has their ups and downs and nothing in this world is perfect. At some point in life, hardships begin to occur and that’s when the real test begins. Some people rise up and try their absolute best to take a stand against the challenge. Then there are others that would crawl back into their shells, crying for mercy. There should be no excuse for giving up or not putting in the effort. People are only successful in winning the battle of adversity when they are mentally tough. The intense game of adversity can be referred to football.
We need to get back on track with this again. Entrepreneurs are very important in our society as they promote job growth. 80% of all businesses fail and a large reason why is due to large corporations. The government needs to promote a more entrepreneur friendly economy. A small business lifestyle less based on large corporations. There could also be restrictions on large corporations so that small businesses are at least given a chance to thrive in the economy without dangerous
In her book Angela talks about different studies where animals experienced the same terrible situations like receiving a shock, but some animals had hope and others were hopeless. The animals that had hope could stop the shock while the hopeless were not able to, and as a result the hopeless animals showed less grit and perseverance in other tests. The same is true for people, if throughout your childhood you work hard and never see your hard work materialize into a skill you can become hopeless. These kids will be more likely to give up when they experience hard times causing them to not be gritty in the future. For people that have hope they realize that even though they may be struggling they know that if they work hard enough and continue to push forward they will be rewarded.
Setting priorities will let you having more time to do other things. Creating boundaries will help you to strict with your plan, and identifying your needs will make others understand you clearer and help you to balance your time. Nowadays, there are several people still think balancing career and personal life is impossible. However, the main idea to achieve this goal is just about “do more with less.” If you cannot maintain your lasting relationship, you can be sure that you will always struggle to be happy in
You want to successfully balance your day job with your side business. The good news is that it can be done! But it may not be easy; scratch that, it will not be easy.
If you are trying to get your own business off the ground while still working away at a regular nine-to-five job, you'll no doubt be desperate to quit your day job as soon as possible. While it can be extremely tempting to get focusing entirely on your new business, quitting your day job at the right time is absolutely essential. Many people make the grave mistake of leaving too early, prompted by unrealistic optimism or a foolhardy willingness to take a major risk. Before you do decide to quit your day job and commit yourself fully to your own business venture, however, you should consider the following factors. Your Responsibilities If you are living on your own, single and without children, then you are already better equipped to leave your regular job and make a full commitment to jumpstarting your own business than someone who has to worry about family and other major responsibilities.
The freedom that America offered immigrants extended far beyond just the freedom from religious persecution. Mary’s father was restricted to what jobs he could perform by his Orthodox Jewish community in Russia, but in America he had a choice. Her father chose to shed his Jewish identity, which he was not able to do back in Russia, as it would have made him an outcast in his Russian community. As Mary mentions, he was no longer tied down by religious superstitions or other restrictions that existed in Russia, for seemingly the first time he had complete control of what he chose to do with his life (Antin, 160). America offered him the chance to explore entrepreneurship, and although he failed, he would not have had access to the same opportunity
The success of a business is greatly dependent on its entrepreneur. An entrepreneur is someone who takes the financial risk of starting and managing a new business venture. In order to be a successful entrepreneur, one must be ready to take a risk and invest one’s own savings into a business. The job requires that the individual be ambitious and committed to working hard in order to achieve the set targets. A successful entrepreneur is able to multi-task and communicates effectively with people, possessing leadership qualities such as confidence and motivation. The individual must play the role of constant motivator and inspire employees to improve their work performance, whilst ensuring a comfortable environment for the employees to work in. According to Schumpeter (1982), an entrepreneur is more of a ‘heroic’ than an ‘economic’ figure; his motivation should not solely be monetary, rather stemming more from inspiration and ambition.
An innovation is gainful modification to the product or process. An existing product can be made better by adding more features modifying design to make it safer or more user friendly. Or the method may be modified to produce it in more cost effective way. Sometimes the raw materials are substituted to bring down the cost. All these are examples of innovation. In short Innovation is achieved by Value Analysis/Value Engineering.
Business has been a large part of my family, and has started to grow on me. My dad worked in sales for many years, and is now the President of a company in Staples. My mom started her own cleaning business, and now works for herself, as well as my uncle owns a golf course, and a pump and well business. My other uncle has his own handy man business, while one of my aunts operates a redimix and construction company . So I guess it could be said, business is kind of in by blood.
In the United States, approximately one in eight adults are self-employed. In their minds exists a one common dream. This is the entrepreneurial dream of self-employment. It is the freedom to start, grow, and cash in a new business. Most of the extravagant millionaires of today build up their wealth in this way. An entrepreneur is someone who has the ability to build and develop his own business. In today's fast paced world of business, many people chose to work for themselves. A career as an entrepreneur is a risky, yet personally rewarding endeavor.
1. WHY? Develop your "why". As an entrepreneur, not all times you have in business will be perfect. In fact, there will be many, many difficulties along the way. However, if you can develop your why, you can achieve success. Your why must be this personal, passionate, emotional drive that keeps you going, when the world tells you to give up. It is the reason you commit and work so hard. Pushing on when it seems all the odds and world is against you. Your "why" becomes your driving will to wake up and do it again tomorrow.
Many people dream of becoming entrepreneurs someday. But it made me realize that there other factors that needs to be taken into consideration. We need to ask ourselves are we ready to take the challenge to the outside world. Not everyone have the vision, innovation and creativity to become an entrepreneur. The individual must have a positive attitude and accept the responsibility, have discipline to meet their goals, and take action when the opportunity presents itself. Many prefer a job security and rely on a weekly paycheck, while entrepreneurs will take risks and doesn 't have that luxury to know the amount of their income.
Entrepreneurship is a key driver of our economy, wealth and the majority of jobs are created through entrepreneurship, and it also helps and educates people in terms of growth and realizing opportunities (Nolan, 2003). Entrepreneurship is also seen as one of the important contributing factor to local development (Nolan, 2003).