Inside the Mind of an Entrepreneur

In a business context, there are basically two kinds of people—those who are self-employed and those who are categorized as entrepreneurs. Self-employed people are the ones who possess special skills or abilities and are aware of the fact that there’re people out there who are willing to pay for their services. It is common for self-employed people to find themselves working for longer hours and doing things that seem like Sisyphean tasks.

Entrepreneurs on the other hand, are those that have their own business and seem to achieve stability when it comes to financial matters. These people have the time to enjoy leisure activities even if they are working hard.

Advantages of Being an Entrepreneur

Aside from having the ability to generate their own income and achieve stability, entrepreneurs enjoy several advantages such as the freedom to express their creativity and a flexible work schedule. Entrepreneurs can work at their own pace without having a boss that will watch their progress closely.

What it Takes to Become an Entrepreneur

Entrepreneurs should have strategic minds. They should know how to entice others to involve themselves in his business. They constantly look for opportunities to expand their own business and have a keen eye that can quickly spot potential prospects. Aside from that, they never run out of business ideas, plans, and strategies. Good entrepreneurs can think of ways to minimize their loss and make smart risks but still consider failures as learning experiences.

Deterrent Factors to Becoming a Successful Entrepreneur

 1. Fear

Fear is the number one factor that keeps people from starting up their own business. Entrepreneurship involves taking a lot of risksand it is normal for people to feel apprehensive because of this. They would not want to risk investing their money in a business because there is no guarantee that they will have a return of investment. It is advisable that you focus on the rewards that you will possibly get when you take this chance and it worked out fine

2.    Procrastination

Successful people do not procrastinate. They will not achieve their status by delaying their plan of actions and decisions. They act on it quickly for faster results.

3. Lack of Focus

If you do not focus on your goal and the things that need to be done, it will surely lead to poor results. Focus on the pot of gold that awaits you upon successfully completing the important tasks. Do not get distracted and try to avoid doing things that may divert your attention from your objective.

4. Hasty Planning

Haste makes waste may be an overused adagebut this is usually true. Carefully plan your course of actions and make sure that all of these are relevant and will not be a waste of time and resources. Do not go out there on the battlefield without having your grand master plan. You can also minimize your margin of error through thorough planning.

5. Lack of Self-Esteem

Low self-esteem or lack of it can negatively affect your business in a number of ways. People would want to work for someone who shows confidence and gives the impression of being in control. Investors surely would not entrust their money to someone who seems like he is not sure of himself and what he’s doing.

6. Stepping into the Bandwagon

People have the tendency to be attracted to something that is over-hyped. When something new comes out like new trends or marketing tool, everyone desired to invest in them. Come up with a unique idea and stand out. Despise mediocrity.

Good entrepreneurship is a long and rough journey. It is something that takes time to master. Its ok being an employee as long as its your choice and you happy with it.. To become and entrepreneur, you have to prepare your self to run the race mentally, physically and emotionally . Trying to develop the right entrepreneurial mindset and avoiding the deterrent factors above will prevent you from potential pitfalls.
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To your Success
Lucy Bieri