May 24, 2011

Why Become An Entrepreneur

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Business plan for Entrepreneur

Have you heard of some people saying “…your passion can be profitable.” Well, maybe you haven’t. However, many people in the world of entrepreneurship have banked on this cliché. There are quite a number of people who have at least once thought of a business idea that they consider would become successful but have never got around to working on it. You may wonder why they haven’t. And when you ask them, they can easily give you their own reasons on why they haven’t done it even when that idea sprung from their own life’s passion.

Yet, on the contrary, there have been a surprising increase in the number of entrepreneurs over the last century even with the struggling economy. With this, you can’t simply escape asking questions like: Why should I become an entrepreneur? Why is being an entrepreneur more satisfying than a regular job? What are the pros of becoming an entrepreneur? How will you discover the kind of business that will jump start your career as an entrepreneur? These questions may sound simple and easy, yet (the downright and realistic truth is) you need to always think that entrepreneurship is hard work.

Becoming An Entrepreneur

Although entrepreneurship is tough, many people have succeeded in starting up their own companies and did well with their sales and profits. Many of the booming businesses today started originally with just a simple business idea. And most of the thriving entrepreneurs these days started out as just individuals who either had just a “lightbulb-turned-on-over-the-head” experience (an idea) or (mostly) a passion that they thought will help them earn more. It is hard to tell you what will and how to fulfil your own business goals. However, I can give you several reasons why you should push through with becoming an entrepreneur.

  1. Independence and Control. If you are the type that never liked working for other people, then becoming an entrepreneur can be advantageous. Generally, most entrepreneurs (since before and until now) value their independence. Don’t get them wrong when they say they don’t like working for others. It is just that entrepreneurs are capitalizing on their freedom so that they can chase their own entrepreneurial dreams and achieve their business goals. They are just pursuing their vision of controlling their own life as an entrepreneur (thus, controlling as well their own future).You can be your own boss if you become an entrepreneur. You will have the total control and utmost independence to steer your venture towards your objectives. You can take all the time you need to learn and study how to start and run your business. And when things improve and become clearer, you can have the right position to take advantage of it and strive to thrive in the business world.
  2. Creating Value. As an entrepreneur, you are placing yourself at risk (which includes your time, effort, and money) in creating your own product or service that you can call your own. This product or service will eventually become your “greatest” business legacy (and ultimately a part of your life!!). Many entrepreneurs started as enthusiastic business-minded individuals who have a passion and a dream that turned into prosperous business ventures. Every product or service you see on the market today is a result of someone’s idea or passion that was acted upon. Entrepreneurs had that “fire in their belly” that naturally attracted business. And if you have also experienced that, you can become an entrepreneur yourself.Your business can create something that many people (clients or customers) will need and want. As an entrepreneur, you can add value to the lives of people. Your own product or service can either make other people’s lives meaningful, comfortable, productive, or entertaining. Becoming an entrepreneur will not only lead you to create something of value, but will help you add value to the lives of others. If you have a great idea, act on it and make it happen. Entrepreneurs can see the need and devise ideas to build value for customers through products and services. You can simply put yourself at risk so that your ideas can become realities.
  3. It’s A Challenge.If you are ambitious, independent, self-confident, optimistic, risk-taker, creative, energetic, passionate, committed, hardworker, and productive, you should pursue to become an entrepreneur. You should give yourself the freedom and the permission to invest on your characteristics, prosper from your efforts, and earn from your abilities.There is no security of working for others. You can easily be downsized, laid-off, or furloughed!! You can become your own boss. Instead of pouring the effort in looking for a job, you can still use that same effort into starting your own business. Especially these days that the economy is struggling and all those established businesses are busy with overhead and large payrolls, you can take advantage and “float your own ship” (keep your business afloat) when everybody else’s are sinking.Becoming a successful entrepreneur is a challenge, but you can certainly earn and learn from it. You can simultaneously learn and adopt positive habits, while defeating negative ones. It takes a large amount of willpower, hard work, and discipline to build a successful business. The skills you must develop (like researching, marketing, organizing) should be top notch if you don’t want to fail. The journey or process is no less than a self-improvement challenge for anyone who wants to be an entrepreneur.
  4. Improvement Is Incessant.The only way for your products and services to improve is to continuously enhance what you know and how to do things. You will not only improve as an entrepreneur, but also as a person. You will become “street smart” and “book smart”. Learning something new will not stop when you already put up your business, become an established entrepreneur, or earn your first $100,000. There is always room for improvement.When you improve in terms of knowledge and skills, your products and services will also improve, thus providing your customers with something new and fresh, something to look forward to. This will also give the impression to your clients that you are serious in enhancing what you can offer and that you value them and their needs.
  5. Building Relationships and Credibility.On your search to find improvement in your business ventures and in your entrepreneurial endeavours, you will meet people who have either gone through the same process or have been there. You can ask these people some tips and advice that can help you become an established entrepreneur. You will gradually build a relationship with the people you meet along the course. Your network of friends and relations will grow along the way.While you interrelate and increase your network of relations, you slowly build credibility in your business field. As you start to build your business, your reach is just confined to your immediate relatives and friends. But once you build your authority and form new relationships with other people, you will certainly gain the advantage of having a voice that will make yourself be heard across the marketplace.
  6. Earning. Contrary to the common thought that entrepreneurs are only motivated to put up businesses because of the profit, this is just the secondary factor that drives them to pursue their entrepreneurial dreams. As an entrepreneur, you have to think that what is most important is the ability to make money on your own. Knowing that you can go and earn will give you that certain security and freedom that you can’t have when you are working for others.

When you think about these reasons, you will realize how becoming an entrepreneur can be a fulfilling and enjoyable experience. You can read other people’s experience on becoming an entrepreneur. Eileen Gunn’s post (Why I Became An Entrepreneur) at blog shares her own experience and how being an entrepreneur affected her life.

Leadership is a good quality to have as an entrepreneur. Consider a leadership degree from Lewis University online and continue your work towards becoming a successful entrepreneur.

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Jeremy Oms

Jeremy is an entrepreneur and leading manager of New Blood, Inc. Excited about all things Internet related, Jeremy spends much of his time project managing custom web applications and directing advanced search engine optimization efforts.

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