The Economy is Creating Entrepreneurs

The economy is forcing more and more people into the wild and crazy world of entrepreneurship. I have always told my kids that enjoying life is about two things; making a good living at your chosen profession and enjoying this profession. If either part is missing, you are doing the wrong thing for the wrong reason. After picking your location, remodeling, choosing your POS software and having all those sleepless nights, make sure you have done it for the right reason, you love what you do.

The following two paragraphs are from the May 26th New York Times. The road to success as an entrepreneur can be frustrating, tedious and exciting at the same time. The journey down that road requires your understanding of every facet of your new business and the competition. It also requires full responsibility for your business; you will be entirely responsible for its success or lack thereof. Still, executives of worldwide companies sometimes leave their plush, corporate lifestyles for shoestring startup operations. Why? Because being an entrepreneur is potentially much more rewarding, both personally and financially. These execs realize that although they are rewarded for their hard work, they can only gain a finite amount by working for someone else. And if your business meets with success, you stand to be rewarded not only financially for the responsibility you have assumed, but emotionally, with the satisfaction that comes only with creation and ownership. And what’s more, you establish your own timetables, rules, and goals.

Entrepreneurship is about people. If real estate is “location, location, location,” then entrepreneurship is “people, people, people.” Your partners, employees, investors, customers, and everyone else you come into contact with must have confidence and trust in you and your business. This trust is what will win you repeat customers, loyal employees, willing investors, and success as an entrepreneur.