10 Benefits Of Being An Entrepreneur

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1. Being in control:

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The best thing about an entrepreneur is that he is in absolute operate of his life. He does not have to article to anybody. He can take a vacation any time he feels he needs one. He gets to rule what can happen in his venture. Best of all, nobody can fire him. It totally rocks to be your own boss and to create your own destiny.

2. Work becomes Fun:

Now, most population who work in 9 to 5 jobs always get exhausted at the end of the day and they dread the morning of the next day. Especially, after the weekends. Some call them "Monday Morning Blues". Now, an entrepreneur works 24/7 and thus puts all of his vigor into his work. By working this hard, he enjoys anyone he does and because of this, anyone venture he puts his effort into, will ultimately turn out to be a great success. Work is what one is obliged to do while fun consists of what one is not obliged to do. (From Tom Sawyer-Mark Twain.) So now the equation is Work=Fun.

3. Free from Boredom:

Arthur Schopenhauer, the great German thinker and philosopher says that there are two kinds of misery. One is the misery of the working class someone else is the ennui of the born-rich, the fashionable society.

Misery of the working class: Because these population are busy generating wealth for others, the only thing they crave for everyday is Rest. They wish to enjoy life to its limits but they can't. They are constrained by their work.

Misery of the fashionable society: Now, these are the few individuals most population desire to become. It easily is a spectacular, thing to be rich and do all the things that a typical "working class" man dreams of doing. Now let us look from a celebrities' perspective. Because these "filthy rich" population get to do any thing they desire, they easily come to a state where, nothing much else gives them a "high". Parties sound like fun and having corporal pleasures very tempting. Now dream doing the same things over and over again in a dull monotony. Then you come to a state of "ennui", a state of absolute boredom. The other end where the "pendulum" of life swings to, agreeing to Schopenhauer. So, to stimulate their senses additional than that which is natural, the typical celebrity resorts to drugs, which is just the beginning of a complete destruction for them.

Now, an entrepreneur, though gets to be easily rich, is not in this primarily for enjoying the pleasures of the rich. Getting to execute his ideas is what satisfies him. For a true entrepreneur, work is not a means to an end. It is an end in itself. The process is as rewarding to him as is the end product. Because an entrepreneur is consumed by his desire to work hard, he gets easily no time to engage in trivialities of everyday life. Now, how can he get bored?

4. Better relations with other people:

Because an entrepreneur is very busy, he will have very diminutive time for others. Because of this, he will not come to be "Over Familiar" with others, which is the root cause for seeing faults in others resulting in mischievous gossips. He will have only experience with population of his own caliber and usually this kind of friendship lasts for life.

For example, take George Washington Carver, the great American scientist. He was self educated and was the man behind peanut butter. It was he who discovered natures secrets by the hundreds. He singlehandedly changed the procedure of many agriculture based industries through his hard work and dedication. And the more customary Henry Ford. These two great men who worked hard all their life, forged a great relationship and were there for each other till the end. Or take the case of Bill Gates and Warren Buffet. Bill Gates opinion he had nothing in base with Warren Buffet who was an Investor.Bill Gates had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for Ten Hours! Such is the power of those who work hard on their own free sweet will!

5. Self Confidence:

Because an entrepreneur trusts in himself more than anyone else, it unlocks the Giant that is gift within himself. Coupled with the grand effort that goes with the task of getting an business up and running, an entrepreneur is sure of success. This success breeds more success which in return instills greater faith in himself. After all, who does not wish to be self confident.

6. Giving back to the Society:

It is truly a great privilege to be given an occasion to give back to the society. Entrepreneurs create wealth and job opportunities for others. This way, many lives are touched and changed for the better. By giving back to the community an entrepreneur experiences a sense of meaning and purpose in his life, which others, merely by accumulating wealth will never get to feel. Money to a real entrepreneur is merely a tool and never an end in itself.

7. Free from wants:

A passionate entrepreneur will not have the desire for any thing material because he has so diminutive time for frivolities. Because he is wholly immersed in his work, he is satisfied with anyone corporal comforts he already has.

8. Being traditional and true to oneself:

Most population do things to please others. They do not have any thoughts of their own. Instead, they live the lives that others dream up for them. They want to please their children or friends or their parents and sincerely do what is foreseen, of them to do. They live double lives all the time. Doing things they don't want to do, talking stuff they don't believe in just so as to fall in line with others. As the saying goes, "No man is an island unto himself". Entrepreneurs however are a rare breed. They do exactly what they want and say easily what they believe in. You may criticize them, show them their defects or mock at them, but the one thing you cannot do is influence them. Entrepreneurs are whole souled beings who think their own thoughts and live their own lives. Thus they are not split in their minds in the middle of their inner and outer lives.

9. Enjoying time-out:

An entrepreneur will in all likelihood enjoy every second of the time they spend exterior of their work. Events like movies, trekking or simply chatting with friends come to be very special because of the diminutive time they get. They understand that they might not get an occasion for indulging in these activities often and so enjoy every occasion of it.

10. The Exhilaration of Success:

Very few get to experience the sweet taste of success. An entrepreneur accepts the challenges, works hard to overcome them and when victory results, he savors the moment. Even when he fails in the beginning, he does not lower his head nor does he give up because he believes in the essence of what Theodore Roosevelt once quoted

"It is not the critic who counts, nor the man who points how the strong man stumbled or where the doer of deeds could have done them better. The prestige belongs to the man who is easily in the arena; whose face is marred by dust and sweat and blood; who strives valiantly, who knows the great enthusiasms, the great devotions, and spends himself in a worthy cause; who, at best, knows the triumph of high achievement; and who, at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who know neither victory nor defeat."An Entrepreneur is, by his very innate constitution poised only for success.

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10 enterprise Challenges Every Entrepreneur Must Face When building a enterprise From Scratch

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Are you an entrepreneur? If you are, then I believe you will customary with the pattern or enterprise challenges faced when beginning and construction a enterprise from scratch. If you are not an entrepreneur but you dream of becoming one someday, then I think you will find this narrative worthwhile.

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Why am I writing on such a topic? I decided to write on the "10 enterprise challenges every entrepreneur must face when construction a enterprise from scratch" to give entrepreneurs a behold of what to expect when they set out to start a new enterprise venture. I am not writing to show my writing skills. Moreover, I am not a expert writer; I am an entrepreneur and investor to the core. I naturally write to share my knowledge on construction a enterprise with whatever who is willing to learn.

This narrative is not meant to discourage or scare you from going into business. Instead, I wrote this narrative to prepare and highlight you on the enterprise challenges to expect and how to cope them. Just as the popular saying goes:

"He that is ready has half won the battle."

Below are 10 enterprise Challenges Every Entrepreneur Must Face When construction a enterprise from Scratch:

1. Developing the vision and Idea:

This is normally the first challenge faced by every entrepreneur. Seeing the right enterprise opening or creatively developing an idea is for real not an easy task. I call "Envisioning the idea" the first true task of an entrepreneur. As an entrepreneur, you must create the ability to see what others cannot see. While others see problems, you must see opportunities.

But Seeing opportunities is just the first task. The main challenge is going to be your ability to forge that opening into a enterprise idea. I see this as a enterprise challenge because the process of transforming opportunities into enterprise plans is like trying to turn lead into gold. I call it the process of "Creating Value out Of Nothing." If you are not an entrepreneur, you might not be customary with the process. The process of:

- Identifying a qoute
- Seeing an opening in the qoute
- coming up with a clarification
- Developing your opening into a enterprise idea
- Integrating your clarification into the enterprise plan

Another way "developing the vision and idea" will be a enterprise challenge is that an entrepreneur must sometimes assume the role of a sorcerer. Let me illustrate in detail. While others dwell in the past and present, an entrepreneur must envision and forecast the future. An entrepreneur must always be ahead of his time or else he might lose his relevance. He must have the ability to bring into gift what is yet to be. Let me give you some practical illustrations:

In the late 70s and early 80s, while Ibm saw increase in interrogate for their mainframe computers, Steve Jobs envisioned a personal computer in every home and Bill Gates envisioned the need for easy to use software for personal computers.

While everyone saw humans flying as an impossibility, the Wright brothers envisioned a flying machine.

Back in those days when cars were institution made and exclusively for the rich, Henry Ford envisioned affordable cars for the masses.

I believe with these few examples, my point is clear. Developing the vision and idea is the first true task of an entrepreneur.

2. Raising Capital:

After developing your idea, the next challenge you are going to face is the challenge of raising capital. As an entrepreneur, you are the only one who knows the idea to the core. You are the only one who knows the story of the future. Trying to convince investors about something that doesn't exist is without fail a challenge.

There is more to raising capital than just naturally asking for money. Most investors want to invest in already established businesses with minimal risk. When construction a enterprise from scratch, raising capital will without fail be a enterprise challenge you must face.

To overcome this challenge, you must create the ability to sell your idea and vision to inherent investors. When I say "sell your ideas", I mean enhancing your transportation skill and your manner of presentation. In the game of raising capital, you must have a good story backed by a strong enterprise plan. If you are interested in learning how to successfully raise capital, you can check other articles I have written.

3. Assembling a Team:

The third challenge you must face in the procedure of developing a enterprise is assembling the right team. When I talk about a team, I am not talking about quarterly employees. I am talking about a "round table strategic enterprise team" that will meet normally to brainstorm on ways to grow your business.

As an entrepreneur, you are bound to have strengths and weaknesses. That is the more infer you need to assemble a strong team that will cover up for your weaknesses. A team is a necessity in your quest to build a business. Now Seeing a enterprise team is just the first hurdle, transferring your passion and vision to your team is the real piece of cake.

You must strive to make sure your team sees the future you see. They must believe in your possibilities and must also be passionate about production that possibility a reality. If they can't grasp your vision, if they can't see they future with you, then they are not worthy being your team.

Your strategic enterprise team should consist of your banker, financial advisor, accountant, attorney or legal adviser and any other specialist that will be of great impact to your business. A interrogate on your mind might be "how am I going to pay this team? My retort is I don't know. You will have to outline it out yourself or best still, you can reconsider bringing them on board as partners.

If you are still at loss with the idea of assembling a enterprise team, then I will advise you whether take some time in learning how to build a enterprise team or you can visit strategicbusinessteam.com to get some advice.

4. Seeing the Right Location:

You might feel that Seeing a good location is a piece of cake but I bet you that Seeing a good location at the right price is without fail not easy. I don't have much to write on this but I feel it is worthwhile I bring it to your notice so you can prepare for it. The following are features you must reconsider before choosing a location. These features are subject to turn with respect to the industry of your business:

- suitable price
- Easy access to raw materials
- Good road network.
- Basic amenities and infrastructures
- sufficient Power furnish
- Easy access to cheap labour
- Nearness to high traffic roads
- Moderate state and federal tax
- suitable Government fiscal and monetary procedure
- suitable federal and state laws.
- Current economic procedure and political situation.

5. Seeing the Right Employees:

Most writers crank up the process of Seeing good employees as an easy task. They define Seeing an employee as naturally presenting the job narrative and the right employee will surface. But I think it's more than that.

Those who are for real enterprise owners know how difficult it is to find a hardworking, trustworthy employee. Most employees want to work less and get paid more. Seeing a good employee who will be passionate about delivering his or her services is quite difficult.

Employees are your representatives to your customers and the exterior world. They are a reflection of your enterprise culture and ethics. If an employee of yours is bad or rude to your customers, it is going to portray a bad image of your company. So you must be right when hiring employees. Remember the golden rule of business; "Hire slow and fire fast."

6. Seeing Good Customers:

The sixth enterprise challenge you will face is the challenge of Seeing good customers. Note the keyword "good customers." When in the process of construction a enterprise from scratch, you will come to find out that there are good customers and bad customers.

You must for real be on guard for bad customers. Good customers are for real hard to find. A good buyer will be loyal to your enterprise and will be willing to forgive you if you make a mistake and apologize. A good buyer will try to do the right thing that will advantage both himself and the enterprise mutually.

A bad buyer will always look for loopholes in the company's procedure to exploit and make some few gains. Bad customers will always try to exploit the company's goodwill and look for ways to rip off the company. Bad customers are responsible for bad debts.

Good customers build your enterprise and bad customers will always try to liquidate your business. Just as you fire employees, you must also be ready to fire bad customers without hesitation. In the game of trying to find a new customer, always remember the buyer that sued McDonald's to court claiming the coffee was too hot.

7. Overcoming Competition:

Competition is the next challenge you will face. Most individuals see competition as a plague but I see competition as a good challenge. I see competition as a benchmark for creativity, the main machine for innovation and ability products at great prices. Without competition, there will be no innovation and without innovation, the world will be stagnant.

I see competition as a welcomed challenge and I want you to do the same. Competition keeps us on our toes and drives us to constantly enhance our products and services. But you must be warned. Competition can make your enterprise lose its relevance in the eye of your customers so you must always be on guard. At this point, I leave you with a quote:

"If you don't have a competing advantage, don't compete." - Robert Kiyosaki

8. Unforeseen Challenges and Expenses:

Just as a sailor prepares for unexpected storm, just as a pilot is always on the watch for unpredictable bad weather and thunderstorms, so must an entrepreneur be ready for what ever comes. Unexpected challenges can come in the form of:

- Unexpected law suits
- Inconsistent government procedure
- Not being able to make payroll
- Unpaid bills and taxes
- Unexpected withdrawal of staff from sensitive office
- Bad debts from customers
- Loss of market share
- Dwindling working capital
- Inadequate stock or inventory

These challenges, if not handled properly can ruin your plan to build a prosperous enterprise from scratch. Someone else challenge you must expect is an unforeseen increase in enterprise expenses. If not handled properly, it might corollary in constant negative cash flow and eventually, the enterprise failure.

9. Holding Up With market Changes and Trends:

Change in trends is for real a enterprise challenge you must be ready for. Trends have made and broken lot of businesses. I know a lot of profitable businesses that have been wiped out by limited market changes and trends. A typical example is the Dot com trend, where many market based businesses were wiped out by new web based dot com companies.

When the Dot com era began, enterprise owners were left with only two options. whether they join the dot com train or they get crushed by the dot com train.

Seasoned entrepreneurs know that trend is always a friend and are always willing to quickly adjust their enterprise with the current trend. Holding your eyes open to spot trends is for real a challenge but the big task will be your ability to quickly use the trend to your advantage.

10. Exiting the Business:

"In the world of enterprise and investing, your exit is more leading than your entry. A good thumb of rule is this; exit before you enter." - Robert Kiyosaki

When construction a enterprise from scratch, you are going to face the enterprise challenge of determining your exit strategy. Just as the quote above states, you have to plan your exit strategy before you even start the business. Most entrepreneurs run their enterprise without any plans to exit and even if they have an exit strategy, they find it difficult to implement it.

Before beginning a business, it is advisable to always plan your exit. There are benchmarks you can use to decide your exit from the business. Most smart entrepreneurs will use this benchmark as a target and once this definite target is reached, they exit the business. Examples of such benchmarks are:

- each year sales
- each year Turnover
- Asset Base
- market Saturation
- buyer base or number of users. This is more applicable to dot com companies.

Now when it comes to exiting the business, there are three exit strategies you can apply. The exit strategies are:

Turning over the enterprise to expert managers: When your enterprise reaches a confident stage of maturity, you can exit by turning it over to expert managers. In this case, the enterprise still belongs to you but you are not complicated with its day to day affairs. You will have to give up menagerial role to assume the role of a watchdog. When you exit in this manner, you will have more free time to look into other projects or retire.

Selling the enterprise privately: In this case, you are exiting the enterprise by selling it to a hidden investor. In the enterprise world, it is called M&A (Mergers and Acquisitions). After the sale and change of assets is complete, you have nothing to do with the enterprise again.

Taking the enterprise public: The unique thing about this type of exit strategy is that while you are selling your enterprise (in form of shares) to group investors, you still own and control the business.

Please before you apply any of these exit strategy, I will advise you consult with your attorney or legal adviser. But ultimately, it's up to you to decide the exit strategy you want to apply. always remember "your exit is more leading than your entry."

At this stage, I thank you for reading and taking your time to learn. Till I come your way again, remain blessed.

I hope you get new knowledge about Free Stock Quotes. Where you'll be able to offer utilization in your evryday life. And most significantly, your reaction is Free Stock Quotes.Read more.. 10 enterprise Challenges Every Entrepreneur Must Face When building a enterprise From Scratch. View Related articles associated with Free Stock Quotes. I Roll below. I have counseled my friends to assist share the Facebook Twitter Like Tweet. Can you share 10 enterprise Challenges Every Entrepreneur Must Face When building a enterprise From Scratch.

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