The main purpose of entrepreneurship is to have your own business that will generate sufficient income so you don’t have to rely on others. Entrepreneurship is based on your own vision and not someone else’s.
- What is Entrepreneurship?
- Where do entrepreneurs come from?
- Can you become an Entrepreneur?
- Why do most people fail at entrepreneurship?
- What are the benefits of entrepreneurship?
- What’s stopping you from entrepreneurship – Conclusion
What is entrepreneurship?
Entrepreneurship is something that can only be described as the mental and physical drive of an individual to succeed in turning opportunity into results.
These results do not always have to be positive. Real entrepreneurs will see negative results as a challenge to find even better results.
The purpose of entrepreneurship is to think different when spotting opportunities and knowing how to monetize them.
Where do entrepreneurs come from?
Everybody wants to make money online which is evident from the Google search result statistics.
Most entrepreneurs are created through desperation. Unfortunately, this is the best time to find out if you are an entrepreneur or not.
I am yet to hear someone saying that they love their 9 to 5 job so much that they have never thought of their own business.
One thing to remember is that 9 to 5 employment will always be temporary and many found that out during the Covid 19 epidemic.
On every “make money online” forum you go to you will find several people that have become unemployed after wasting years in their organisations.
They only realize now that there is money to be made online but for some, it is too late. Most successful online entrepreneurs have been at it for many years.
Only a handful achieved success overnight or at least in a short period of time. The purpose of entrepreneurship is not to achieve success overnight but to have long term ambitions.
The belief is that entrepreneurs are born but that is not true. Entrepreneurs have a different mindset than other people in that success achieved by their own means is the ultimate reward.
Can you become an entrepreneur?
With the right attitude and approach, you can also become an entrepreneur. Just keep in mind that entrepreneurship is hard work and results are not always a guarantee.
Entrepreneurship is a combination of willpower and a well-developed skill set. These are both characteristics you can develop on your own over a short period of time.
Once you have grasped the true purpose of entrepreneurship and how to apply it then your online ambitions will become clear.
Why do most people fail at entrepreneurship?
Most people fail because they do not want to put in the effort to learn. Instead of working on getting better at entrepreneurship, they will find any excuse under the sun to justify not trying.
Here are the main five reasons (or excuses) most unemployed people will give you for not starting their own business can be what is holding you back.
- Comfortable and Content
- Limited time
- Not enough skills
- No money
- Lack of security
Comfortable and Content
Being comfortable and cosy in your day job is a good thing because you know that at the end of the day money is coming into the bank. More often than not you didn’t even work too hard for it.
That is why people get used to not trying to succeed by their own means and that is exactly the mindset that corporates are looking for.
They want people who are content with the little they get so they must spend more time working and less time thinking.
Most people will say that they are so busy and have no spare time in the day to learn new skills.
People will find activities that take them away from their goals. Real entrepreneurs will make time for skills and business development and then use other activities as a rest break.
If you want to build something that will last you a lifetime you have to make time to develop it into a positive venture or you will feel like you’re back at a 9 to 5 job.
Not enough skills
People are quick to point out that they cannot succeed as an entrepreneur because they do not have any skills.
This is also the reason why entrepreneurs enjoy their journey so much because it is a path of continuous self-development and there is never a dull moment.
Every day you come across hurdles as an entrepreneur and with this the opportunity to learn a new skill.
The purpose of entrepreneurship is to generate income from opportunities. Very few entrepreneurs start off with pockets full of cash. They have only learned to apply entrepreneurial skills to their life.
There is a false belief that successful entrepreneurs started off rich but most people don’t see the struggle they went through before getting rich.
This almost always included the factor of no money but a good entrepreneur would work around it.
The normal person trying entrepreneurship as a living and quitting after a short time will almost certainly tell you they are not making money.
The best advice I got from YouTube on entrepreneurship was that you never start a business when you are broke.
Start your own business when things go well and money is not the immediate outcome that you are looking for. Building your skills and business during this time will get you further quicker without the pressure.
Lack of security
Maybe one of the few valid reasons that can slow down your progress to become an entrepreneur but it should still not prevent you from living the dream.
Most people are tied to the current lifestyle because they are used to the security of medical, retirement and other benefits provided.
With successful entrepreneurship, you also get the responsibility to provide yourself with security but if you are successful you will enjoy lifelong security that no one else can provide.
What are the benefits of entrepreneurship?
Becoming a successful entrepreneur will provide you not only with work satisfaction but also with many other benefits not always part of a normal 9 to 5 job.
- Long term income
- No set retirement
- Above-average skill set development
- Freedom of choice
- Limited opportunities
Long term income
Being able to build up your own online businesses will ensure that you develop one or more income streams that will last you a long time.
No set retirement
It is not like normal employment where the income will dry up instantly when your time is up.
You will go from financially stable to broke instantly the day you stop doing your 9 to 5 job. The only thing that will save you is the ability to create income streams that you have control of.
With your own business, you can continue making a living for as long as you have the physical and mental ability to do so.
In order to maintain entrepreneurship, you will have to develop skill sets not found anywhere else. These skill sets are what will bring your income.
Freedom of choice
The main reason why people choose an entrepreneurial lifestyle is because of the freedom of choice.
When you work, what you do and who you deal with are just some of the choices you can make. This you won’t find in a normal 9 to 5 job.
As an entrepreneur, most of your days will be spent on developing yourself. There is always something new that you will find to do in order to stay ahead of the competition.
Entrepreneurship is never boring because you will always find new doors opening for you. As an entrepreneur, multiple income streams will expose themselves for you to take advantage of.
A normal brick and mortar business is set up in such a way that it is limited to different opportunities. To expand your business you must remain true to your brand as creating new brands can be costly.
The purpose of entrepreneurship – Conclusion
You make money by understanding what the purpose of entrepreneurship is and how it can affect your thinking.
I think by now you can determine the factors that are preventing you from becoming a successful entrepreneur are all coming from yourself.
This is a good thing as it puts you in total control of your goals and end destination. The only thing you need to do is learn the skills that will help you succeed as an entrepreneur.