Both terms, “self-employed” and “entrepreneur” begin with the desire to make money from a business that you own and control. An entrepreneur, however, has the extra motivation to take the business to a higher level with drive, passion, dedication, technical skill and business knowledge.
Let’s discuss some of those traits to help you assess your dreams and goals. An honest self-assessment can help you determine whether your business ideas are feasible, identify questions and issues you may face in converting your ideas into reality.
First, you must have a great idea. Do you have exceptional drive and passion behind your idea? Dare to dream! Every idea doesn’t have to be novel, but it does have to add value, or be marketed to your buying audience in a novel way. For example, did you know that Oreo wasn’t the first crème filled chocolate cookie? Hydrox was actually the first, but Oreo quickly gained the market share with a better marketing strategy!
Do you have the dedication to build your business? The majority of business owners say that building wealth is an important motivation, but that doesn’t happen without long hours and dedication to making the business succeed. Physical and emotional stamina are necessary, along with making quick decisions, getting along with multiple personalities and superb organizational skills.
Technical skills and business knowledge are cornerstones of your venture. You will need to understand accounting, marketing, industry trends and staying ahead of technology.
Understand the risks. In business, there are to guarantees. There is no way to eliminate all the risks associated with starting a small business, but you can improve your chances of success with good planning, preparation and insight. There is free help for business preparation, no matter where you live in Wyoming.
The week of June 17-21, 2013 is Small Business Week. The Wyoming Entrepreneur Small Business Development Center will be hosting “Start Your Own Business” workshops in several communities around the state and via webinar on June 20. If you are considering an idea for starting a business, check our website www.WyEn.biz for a location near you. We can help you start down that road to becoming an “Entrepreneur”!!
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