entrepreneurship

To be secure -

Nothing more secure than knowing you have your destiny in your own hands. Seriously, I would rather be in control of my own fate, than stick it in the hands of some idiot who is aiming to run their business into the ground.

Out of greed -

Oh, the insatiable fire of greed. Wanting more, coveting the reality stars on TV and their millions. But not for those reasons mentioned. The desire for a better life, call it greed, call it whatever you want, but it's there. And you know what? Desire for a better life. Who doesn't want that?

6. Creativity

One facet of creativity is being able to make connections between seemingly unrelated events or situations. Entrepreneurs often come up with solutions which are the synthesis of other items. They will repurpose products to market them to new industries.

10. Passion

Passion is the most important trait of the successful entrepreneur. They genuinely love their work. They are willing to put in those extra hours to make the business succeed because there is a joy their business gives which goes beyond the money. The successful entrepreneur will always be reading and researching ways to make the business better. Successful entrepreneurs want to see what the view is like at the top of the business mountain. Once they see it, they want to go further. They know how to talk to their employees, and their businesses soar as a result.

difference between social entrepreneurs & government

Rather than leaving societal needs to the government or business sectors, social entrepreneurs find what is not working and solve the problem by changing the system, spreading the solution, and persuading entire societies to move in different directions.

9. Strong work ethic

The successful entrepreneur will often be the first person to arrive at the office and the last one to leave. They will come in on their days off to make sure that an outcome meets their expectations. Their mind is constantly on their work, whether they are in or out of the workplace.

1. Disciplined

These individuals are focused on making their businesses work, and eliminate any hindrances or distractions to their goals. They have overarching strategies and outline the tactics to accomplish them. Successful entrepreneurs are disciplined enough to take steps every day toward the achievement of their objectives.

2. Confidence

The entrepreneur does not ask questions about whether they can succeed or whether they are worthy of success. They are confident with the knowledge that they will make their businesses succeed. They exude that confidence in everything they do.

8. Strong people skills

The entrepreneur has strong communication skills to sell the product and motivate employees. Most successful entrepreneurs know how to motivate their employees so the business grows overall. They are very good at highlighting the benefits of any situation and coaching others to their success.

Rewards from enterprise

A sense of satisfaction · Building something · Being in control · Making that first sale · Opening a new location · Employing more people · Getting an industry award or good publicity · Getting great feedback from customers

Entrepreneurship

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.

To be appreciated -

Build your business, hire team members and take good care of them. You'll be appreciated. Especially on pay day; and when you tell them they're doing a great job; and when you give them a raise...

To gain knowledge -

Whether this is one of the reasons you set out to be an entrepreneur or not, your tank is now full of knowledge. It's much better to have wisdom than knowledge.

Serial Entrepreneurs

You should also remember that there is a strong tradition of entrepreneurs who have built and sold one business for a substantial amount going onto build other successful businesses. They never lose the entrepreneurial buzz.

Characteristics of Entrepreneurs

1. Disciplined 2. confidence 3. open minded 4. self starter 5. competitive 6. creativity 7. determination 8. strong people skills 9.strong work ethic 10. passion 11. risk taking

7. Determination

Entrepreneurs are not thwarted by their defeats. They look at defeat as an opportunity for success. They are determined to make all of their endeavors succeed, so will try and try again until it does. Successful entrepreneurs do not believe that something cannot be done.

4. Self Starter

Entrepreneurs know that if something needs to be done, they should start it themselves. They set the parameters and make sure that projects follow that path. They are proactive, not waiting for someone to give them permission.

For convenience -

It can definitely be convenient running your own show. You get to choose your hours of work, and where you work from.

Out of fear -

Layoffs, cut backs, can't find a job anywhere. Those scary things will drive you right into entrepreneurship — whether you like it or not.

To make money -

generally speaking a successful entrepreneur makes money. And lots of it. Yay, can't wait to get there someday.

To be comfortable -

'Sitting in the lap of luxury on that big couch'. Now that's comfy. Except it costs two thousand dollars just to clean it 'because it's hand-made Peruvian Silk Spun with Golden Inlays.

To gratify curiosity -

Am I good enough to succeed on my own? Is my idea worth a million bucks? Do I have what it takes? Can I hang out with Richard Branson now? See, you're more curious already.

11. Risk taking

A successful entrepreneur will never be afraid to take a calculated risk. Risk taking has served many successful business people well over the years. It takes a lot of nerve to put money into a 'hunch' but they can often turn out to be very profitable. It is important to distinguish between a calculated risk and something that is barking mad!

about entrepreneurs

Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bring good new ideas to market. Entrepreneurs who prove to be successful in taking on the risks of a startup are rewarded with profits, fame, and continued growth opportunities. Those who fail, suffer losses and become less prevalent in the markets.

3. Open Minded

Entrepreneurs realise that every event and situation is a business opportunity. Ideas are constantly being generated about workflows and efficiency, people skills and potential new businesses. They have the ability to look at everything around them and focus it toward their goals.

Motivation for becoming an Entrepreneur

For convenience - To gain knowledge - To make money - To be appreciated - To be secure - To be comfortable - To gratify curiosity - Out of fear - Out of greed -

Why "Social" Entrepreneur?

Just as entrepreneurs change the face of business, social entrepreneurs act as the change agents for society, seizing opportunities others miss to improve systems, invent new approaches, and create solutions to change society for the better. While a business entrepreneur might create entirely new industries, a social entrepreneur develops innovative solutions to social problems and then implements them on a large scale.

5. Competitive

Many companies are formed because an entrepreneur knows that they can do a job better than another. They need to win at the sports they play and need to win at the businesses that they create. An entrepreneur will highlight their own company's track record of success.

case study: Richard Branson

Richard Branson, born in Surrey in 1950, had a hard time at school as he is dyslexic. It may be this this early challenge which taught him that he could overcome adversity and succeed, as soon after dropping out of school he started a youth culture magazine which made thousands of pounds through selling advertising space. Using profits from his magazine, Branson soon set up a record company, called Virgin Records. He opened up a successful shop in London and soon a recording studio. After attracting big names such as Mike Oldfield, The Rolling Stones and The Sex Pistols, pretty soon Richard Branson became a very rich man. He could have stopped there. However, Branson had the entrepreneurial bug and couldn't keep still for long. His energy and ambition meant he wanted to expand into new areas. Branson started a travel group including Virgin Atlantic Airlines and a chain of Virgin Megastores, however, after in 1992 Virgin was struggling financially. Branson had to sell his record business to EMI (a rival company) and he felt crushed. As a typical entrepreneur however, Branson bounced back and founded V2, a new record company, and signed Tom Jones. Branson's travel company also did very well and today he finds himself even exploring the potential of space travel through Virgin Galactic voyages.

Here are some of the non-financial motives that are often quoted by entrepreneurs:

· More control over working life - want to choose what kind of work is done. The need for greater independence is a major motivator. · Need a more flexible and convenient work schedule, including being able to work from or close to home. This motive is an important reason behind the many home-based business start-ups · Feel that skills are being wasted and that potential is not being fulfilled · Want to escape an uninteresting job or career · A desire to pursue an interest or hobby · Fed up with being told what to do - want to be the boss! · Want the feeling of personal satisfaction from building a business · Want a greater share of the rewards from the effort being put in - compared with simply being paid by an employer · Fed up with working in a business hierarchy or bureaucratic organisation (people with entrepreneurial characteristics often feel stifled working and having to co-exist with others! · As a response to a shock or other major change in personal circumstances - e.g. redundancy, divorce, illness, bereavement