What Does it Take to Make a Great Entrepreneur
With the way the global market is today, anyone from anywhere can start a business. The Internet has opened up possibilities to reach millions of people. It takes three things to start a business and have it run successfully. You must have a good idea that has the potential to be profitable. You also must have the capital to get your business going. The third thing you need to have is a good sales and management style. How can an entrepreneur take advantage of this rich marketplace to get all of these things? What does it take to make a great entrepreneur?
Firstly, you need to be is a ‘great salesman’ in order to be a great entrepreneur. As an entrepreneur, you will mostly be selling, although it will not always be customers that you are pitching your product or service to. For instance, if you do not have enough money to start your own business you will have to find investors or take out a loan. Either way, in order to get capital to start your own business you will have to be able to pitch your ideas to banks, other loan companies or investors. After you have obtained the capital to get your company going then that is when the real struggle starts. Everyone has heard about the statistics on how many companies fail in the first few months or the first year of business. Why is that? One of the main reasons for such common failure is that many entrepreneurs lack the ability to attract people to branch out and try their new products or services. It is difficult to break consumers buying habits that have been ingrained over many years. Therefore, you have to be an even better salesman than those who are selling established products and services. This will help you overcome the disadvantage of not having the history of any brand recognition behind the product or service which you are selling.
Lastly, another attribute that makes a great entrepreneur is that you have to be willing to work harder than anyone else in your chosen industry or profession. Too many people who start a small business believe that self-employment is an easy option. They believe they can work the hours you choose and have the added benefit of not having to put up with a nagging boss. Take for example my friend Raymond, who started a tree service company after he got sick and tired of his higher up! He’s doing really well for himself and feel free to check out www.tree-service-pros.com for any tree care services. However, the flip side of the coin is that you have to be extremely disciplined and put the hours in, often working at weekends and in your free time. However, if you have something great to sell and you are willing to make that commitment then the rewards can be substantial in terms of increased revenue and most importantly profit.