Economy Archives – Theodore Henderson

TIME TO ACCEPT THAT WE ARE ALL SELF-EMPLOYED ENTREPRENEURS By Theodore Henderson The Wisdom Man Lots of people equate being self-employed with being an entrepreneur. We suggest that few of us are genuinely official business owners, but truthfully everybody is self-employed even when he or she works for someone else. To see the differences and commonalities, let us first explore the requirements of entrepreneurship. Entrepreneurship is typically identified by some type of value-added development, a significant financial investment, and a method that values growth. The entrepreneur is often somewhat different in mindset from a company manager, who is generally charged with using existing resources to make existing services run well. The functions of business owner and supervisor are not necessarily incompatible; however, entrepreneurs are rarely patient sufficient to be excellent supervisors. The Mindset of a Business Owner It is often explanatory to evaluate the experiences that have formed our attitudes toward entrepreneurship. A recent study showed that 70% of service startups were by an individual who had an entrepreneurial mom and dad. Click Here for a FREE Copy of "13 Tips For Success In Your Small Business Or Internet Business" CLICK HERE - GET STARTED The United States Small Business Administration (SBA) A great resource center provided by the government has offered a multi-point checklist for entrepreneurs starting a business that leads the prospective entrepreneur through a skills inventory that consists of supervisory and/or supervisory experience, business education, subject matter expertise and understanding about the specific service of interest, and determination to get the required essential skills. A commitment to filling any knowledge or experience gap is an extremely favorable indication of success for new entrepreneurs. Personal qualities required, and per the SBA, consist of leadership, decisionmaking skills, decisiveness, and competitiveness. Essential factors in individual style include willpower, and self-discipline, comfort with them, planning procedure, and with working with others. Can you objectively rate yourself in these dimensions? Peter F. Drucker, the author of "Innovation and Entrepreneurship," states that anybody from any company can find out the best ways to be an entrepreneur, that it is "methodical work." However, there is a difference between discovering how to be entrepreneurial, and succeeding as an entrepreneur. "When an individual receives a degree in physics, he becomes a physicist," "says a professor of entrepreneurship at Northwestern University. " "But if you were to earn a degree in entrepreneurship, that would not make you an entrepreneur." In other words, you must do it to be it. We are all Self-Employed Entrepreneurs! The factors frequently given for people starting a business on their own are freedom from an employer's regimen; being your very own manager; doing what you desire when you desire it; boredom with the existing job responsibilities; monetary desires, and; a perceived opportunity. Which of these might be enough to obtain you to take the threat? Numerous "yardsticks" have been proposed for determining. whether an individual is a most likely candidate to be a competent business owner, however, the real challenge is in accurately using them to ourselves. We are all Self-Employed Entrepreneurs. Even if we work for a company, to be successful, we are still primarily an individual who must manage their career. The continuing trends, in particular by huge companies, towards downsizing and outsourcing, will probably necessitate smaller companies making use of networks of professionals. Many of these professionals will be entrepreneurs, independent consultants, and freelancers. Articles in publications such as Forbes, Fortune, and various entrepreneur magazines recommend that "Nearly everybody, up through the greatest ranks of experts, will feel increased pressure to specialize, or at least to assemble a marketable portfolio of skills." How marketable is your portfolio of skills? Many believe they have many many years' experience when exactly what they have is one year's experience numerous times. Are you continuing to learn, and staying up to date with developments in your field? Are you exploring new areas and becoming focused on gaining expertise in them? The most effective approach to preparing for an entrepreneurial career is typically to find some element of your area in which you can become a seasoned, knowledgeable professional and get to work! Click Here for a FREE Copy of "13 Tips For Success In Your Small Business Or Internet Business" CLICK HERE - GET STARTED About The Author Theodore Henderson works with business owners, entrepreneurs, and corporate professionals. He is an Amazon best-selling author, a Certified Career Coach, a Certified Leadership Coach, and a Certified Social Media Security Professional Powered by CompTIA. In addition he is the author of the business program “Launching Your Great Business Idea,” as well as the author of the following books; “The Wisdom Compass: Your 31-Day Journey to Wisdom-Filled Living”, “9 Simple Strategies to Becoming a Strong Leader” and the Security eBook “30 Smart Ways to Protect Yourself from Cyber Criminals" aimed at owners of Smartphones, Mobile Devices, and also those who have significant online activities including Social Media, financial services, etc. He is available for keynotes, seminars, and workshops. He may be reached through www.TheodoreHenderson.com.