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PROS AND CONS OF BEING AN ENTREPRENEUR

Updated on May 4, 2016

BEING AN ENTREPRENEUR

If you’ve considered venturing into entrepreneurship then you would do well to access yourself and ask yourself some relevant questions pertaining your motive for venturing into entrepreneurship.

HERE’S WHAT YOU WILL LEARN:

  • Mind opening questions that makes you aware of your ignorance.
  • Eye opener questions needed for decision making
  • You will also get an idea of what awaits in the entrepreneurship world.

Being an entrepreneur is more than getting a job or pursuing a career: it is a lifetime affair. Before going into business, an entrepreneur should know what he actually wants in life and where to get it. He must be action oriented and be ready to accept failure as a learning experience and must be able to address these questions about his personal philosophy of life:

  • Why do I want to be an entrepreneur: in finding an answer to this question, a wanna be entrepreneur could actually focus on his reasons for wanting to be an entrepreneur therefore finding the motivation and inspiration to carry on. The question “why” must be asked often so as to get the momentum to go the extra mile in search for his calling.
  • What is my main purpose of being alive: an entrepreneur just like every other person must look for a purpose to life and when that purpose becomes reality, he must strive towards achieving that which he wants. In finding a purpose for being alive, an entrepreneur can direct and focus all his efforts and resources towards attaining that which he believes in irrespective of the possibility of failure.
  • What do I really want to achieve out of life: depending on an entrepreneur’s dreams and aspirations, he can be guided in the direction that leads to what he wants to be and where he sees himself in the nearest future, by knowing what one want out of life, it gives answers as to where one needs to look in order to get that which one wants.
  • Can having my own business help me achieve this: after deciding what one wants out of life and knowing how much life can offer, a decision must be made, a realistic and logical decision that has the potential of getting you from where you are to where you want to be. Hence a business enterprise capable of delivering the required and expected result with the end goal must be established.
  • What in particular gives me excitement about owning a business: if work must to be done well, three human qualities are needed in order to achieve its maximum level of output passion, will and determination. The passion which serves as a driving force for the task at hand and the will to actually do that which must be done coupled with the determination to see it through to the very end. These are the three basic qualities an entrepreneur must possess
  • What kind of business do I want to do: in choosing a business venture, it serves as the catalyst or the defining factor as to whether success Is certain or failure being inevitable. An entrepreneur should be honest with himself in determining the kind of business he wants to go into. This will help him choose the location and size of the business. In selecting the business, he must first consider his personal traits and area of strength and choosing the business that he will always love to be identified with, that is, the business is in line with his personal skills and abilities, more or less the business that relates with his gifts and talents.
  • Will I be able to face the risk(s) involved: entrepreneur is all about risk taking, putting all of your eggs in one basket and then closing watching that basket until the eggs hatch and in the process where none or some of the eggs hatch can, can you cope with the loss of losing a couple of eggs if the answer is no then your priorities probably needs a run check and it the answer’s yes then you’re on the right path to being an entrepreneur.
  • What are those things that I have in my advantage: an entrepreneur should be able to know what works and what doesn’t work for him, what he’s good at and what he isn’t good at, In knowing these he positions himself for a good and promising head start. Though a simple question must be asked “do you know a little bit more than they do?” If the answer to that is yes, then all that is needed is finding a group of blind people and going on to lead them with your one eye because in the land of the blind, a one eyed man is king.
  • What are the things that are likely to work against me: in knowing your weakness as an entrepreneur it helps in knowing your boundary and keeps you from trespassing therefore keeping you in your lane. It also helps in the assessment of one’s capabilities and in knowing what measures to take in order to improve as an entrepreneur.
  • What are the costs and benefits involved in this business? : what must be sacrifices in order to attain ones goal and motive for starting up a business venture sometimes in order to get to a whole new dimension, an entrepreneur must go out of his comfort zone so as to see life from a new perspective only then can he see the rewards and benefits associated with the type of business module he chose.

BEING AN ENTREPRENEUR…?

That’s it, the important questions you should ask yourself when making plans to become an entrepreneur. Just in case you couldn’t process them all at once, here’s a quick rundown of what I’ve said so far…

  1. Access why you are in the business for the best of productivity
  2. Know what works for you and what doesn’t in order to make a quick break through.
  3. Readiness to sacrifice for the greater good which is your decision to be an entrepreneur.
  4. If at all you venture into owning a business venture. Make sure it’s something that you enjoy doing from which you derive maximum satisfaction.

At this point, I’ve said arguable all that I have to say and adding more would be nothing but irrelevant but I’m sure you have some additions please feel free to air your opinion.

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