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being an entrepreneur

Being an Entrepreneur is one of the most exciting and popular things to do. Though starting and maintaining your own business isn't easy. Through real life experience I have learned how to manage and maintain a business. In the following I intend on telling you how to do it yourself to display what I have learned.

Your heart pounds. You smile. Excitement abounds. You are inspired. Life has a new meaning. What is the object of all this positive energy? An idea! The experience of getting a new idea is wonderful. What follows can also be fun and exciting, when you have a plan and know what it takes to carry your idea from conception to reality.

Dreaming a dream is one thing, but bringing the dream to market is another dimension entirely. Business is all about making money, which means the bottom line, is the bottom line. However, once your dream is realized there are several steps you must take before going to the market. (Entrepreneur's Guide PG 20)

Educating yourself needs to be both open-ended and focused, to provide the freedom necessary to explore unexpected leads. Success at this stage often depends on how open-minded you are. If you enter the education process with even some preconceptions, you are likely t


2. Fear of Rejection - What if my customers don't want what I have to offer? The fear of rejection is the second strongest fear that influences people. More the province of the employed executive, this fear still plays on a new business owner. Eager for approval, the executive is unwilling to contradict their boss, and the business owner is unwilling to contradict the customer and/or their employee. The need for approval can become so strong that it supersedes the desire to do good business. Solution: Be fair to your employees and customers, but remember that you can best serve them both by being successful in your business.

This concept allowed young Michael Dell to beat Big Blue (IBM) in computer sales. It has allowed Advanced Micro Devices (AMD) to chip away at Intel's market share steadily and surely. AMD used to be constantly behind Intel in developing faster microprocessors. Now they are major forces in pushing technology advancements. AMD became a player by drastically cutting the time it takes to get updates of their microprocessors to the market.

7. Have more fun. People do what they enjoy doing. In fact, most folk rarely procrastinate when it comes to having fun. They delay doing things that they associate with pain or fear. Here is my suggestion: turn work into a game. The steps to success seem simple enough. Trust your talents, do what you love, don't be afraid. Unfortunately for many, fear holds them back.

o miss important learning (Entrepreneur's Guide PG 36). Adopt a spirit of adventure about learning new things. If you fear learning new information because it might undermine your idea, then you will miss major insights.

The Silicon Valley rule-of-thumb is that any good idea is being contemplated by at least five other people at any given moment. Probably lots of times. It was probably not intelligence...raw intelligence is not necessarily the primary success factor in entrepreneurship. The difference was execution...often, the speed of execution.

3. Stop being a perfectionist. Being excellent is more important than being perfect. First, you'll never be perfect, so stop being obsessed by it. Second, some things are worth doing first, even if done poorly. In some markets, you'll do better in the long run if you can get there first. Hopefully, you can be improving your services by the time your competitors are moving in. Finally, Relax! An axiom from martial arts states: the tense muscle is a slow muscle.



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Approximate Word count = 1773
Approximate Pages = 7 (250 words per page double spaced)


  

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