As we get this website kicked off I wanted to discuss and define Success, Entrepreneurship & Development. Each plays an independent role but are also very closely intertwined.
Success- this is a relative term as some think success is piles of money, while others feel success is more than money to include a happy healthy life style. Money is a factor in the second but not the ultimate judge of your level success.
This is best defined by each individual and should be one of the first steps in planning your journey. Is it a million dollars that will make you feel like you “made it”? or is it a work/ life balance that lets you enjoy your family and your work, while giving you the money not to stress?
Entrepreneurship- As defined by: https://en.wikipedia.org/wiki/Entrepreneurship
“Traditionally, an entrepreneur has been defined as “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk””.
I think a big thing most people forget or neglect to recognize is the risk involved in starting any business. One must research and develop a market analysis before jumping into a specific market. Failure to do so may be the recipe for disaster.
It takes hard work and numerous hours to run your own business. Many people who are employees think they have a valuable skill, which they might, and so they can start their own business and make tons of money. However it takes more than a skill set to make it as a business owner.
It takes a certain business acumen or mindset. One that realizes there are numerous aspects to business. From acquiring new clients all the way through retaining those clients. On top of the fun stuff like acquiring new clients a business owner has to comply with numerous regulations and taxation.
Entrepreneurship can be very rewarding if approached in the correct way. At the same time it can be very daunting and overwhelming if you simply just jump in without proper planning and due diligence.
Ultimately we want to help each and everyone of you achieve a successful entrepreneurial venture. in order to do so we will be posting some of the fundamental steps you should take. Each industry is bit different, but the foundation, for the most part, remains the same.
Development- Lets face it if we’re not learning we stay fairly stagnant in life and the same goes for business. You must develop your skill set to become a professional and have people pay you for a service or product. In the same way you should constantly seek to develop your business acumen.
Development can come in the form of administrative tasks such as bookkeeping and staying on top of your numbers. Another important skill is the ability to communicate your value to potential customers, also known as sales. Sales is arguably the most important thing in any business because without a continuous flow of new customers your business becomes at the best stagnant and at the worst it collapses since you cant pay the bills.
We will cover some key training programs and books we have used and recommend every business owner consider. After all if you don’t continue to develop your competition will. Assuming you have an advantage today, they will soon catch up and ultimately pass you in the competitive race of business.
Thanks again for jumping on and checking us out and we look forward to posting again soon. If you know of any successful small business owners who you think we should Spotlight, visit our about page and submit a bio.