The Criteria Needed to Succeed in Entrepreneurship

Entrepreneurship! The new career path for the future since job security is becoming scarcer as time moves forward. With all this talk about entrepreneurship, you might be wondering; “how exactly do I become an entrepreneur and succeed at entrepreneurship?”

Good question to ask, especially since entrepreneurship is as much about self-development as it is about business development. And what most people in today’s world have a problem doing is implementing the discipline and focus required to develop themselves, let alone an idea. Two very important elements that are needed for success as an entrepreneur. *Remember to keep this in mind as you move forward in entrepreneurship
So, identifying the criteria needed to succeed in entrepreneurship… how is this done?

When determining your ability to succeed in entrepreneurship, you have to assess your ability to identify opportunity, create something from nothing and handling the pressure of risk and uncertainty.

Let’s examine each criteria:

I. Identifying Opportunity. We are all surrounded by opportunity every day. What is sad is that many people are too distracted or blindly unaware to realize such opportunities. For a small percentage of people, they recognize open opportunities and race towards them anxiously.

When pursuing entrepreneurship, you must identify an opportunity and direct your efforts towards its development. Many wannabe entrepreneurs chase another person’s success and try to “copy” the blueprint they believe the other person followed. WRONG!!! You cannot see another’s opportunity as your path towards success. You must realize your own opportunity, a path that you create by your own footsteps.

II. Create Something from Nothing. In a 9-5, you rarely develop your own idea and create sustainability around that idea. Instead, you follow some guidelines, a set of rules or blueprint and finish the initial thought originally put into place.

As an entrepreneur, your growth is dependent on taking your own idea and building sustainability around it in order to progress forward. This can be very difficult because you have to actually see and feel the vision beforehand in order to build the different pieces that create the completed whole. This means proposing the initial thought, designing the blueprint, developing a strategy of actions and executing upon those actions no matter the difficulty.

III. Handling the Pressure of Risk & Uncertainty. Do you know why a lot of people love a 9-5? Because it takes the pressure of off figuring out how to survive. ( if that can be said to be true in today’s economy and job climate)

Noticed I said survive. Most people today are looking to survive, maintain, just get a little ahead. I’m not even going to lie to you. As an entrepreneur, at times it can seem as if you are just pushing to survive. ( I can account for this) But the goal at hand is to produce business longevity and wealth. Producing wealth comes with some risk and uncertainty though. A lot of people are not built for such pressure, which is why they should bypass entrepreneurship. How about you? Can you handle bills being paid late, rent being past due and success not coming in the first year(s)? Very important questions to ask yourself.

How do you score on the criteria needed to succeed in entrepreneurship? If you believe entrepreneurship is not for you, there is nothing wrong with coming to that conclusion. It is better to assess your capabilities now then push ahead and fail miserably because you don’t fit within the mold of entrepreneurship.

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