Saturday, October 25, 2008

Rat Race::Who Cares. I am an Entrepreneur

The entrepreneur is our visionary, the creator in each of us. We're born with that quality and it defines our lives as we respond to what we see, hear, feel, and experience. It is developed, nurtured, and given space to flourish or is squelched, thwarted, without air or stimulation, and dies.
Michael Gerber -

The ones that succeed, though, have a few things in common. You may not need to have all 21 of these abilities to succeed in business. But be willing to learn them or hire someone who can cover your butt if you want to get out of the rat race and be your own boss someday.

  1. Market urself::Don't ever underestimate how imp it is to market and sell urself.This is what we do with clients and while switching jobs. Then u might have to sell uridea to ur investors. So if u think u r not cut out for this then get urself over that first.
  2. Gratification::Rome was not built in a day and neither is Business. So if u have in mind that opening up a venture will provide u instant riches oopss..Boss u are wrong. Have a reality check. It’s a long term goal and u have to work day by day. month by month and year by year. And sometimes u ll b up against all odds and u still have work harder.
  3. Take Risks::U want to leave the rat race. This is de Biggest risk. Because people tend to follow each other like heard of sheep and u going to take de path less traveled. U might have a family behind. Everybody do look for some security. And if u think u still not perfect in overcoming this give urself a few more years before jumping in.
  4. Discipline::Its all bout hard and smart work.U might be an idea generation machine. Those ideas can be Breakthrough. But every time u continue pursue new ideas, old ideas never get developed to fruition.
  5. Contacts::You are young and still looking for some experience before getting into a venture. Use u rime in building up contacts which u feel ll be helpful to u in the future. So till that time Invest in People. Build Respect, Reputation and key alliances along the way.
  6. Be Uncomfortable::The day u start getting a feeling of comfortness in ur biz, remember its de first clue of an upcoming heavel.Do not realx.Keep looking for improvements and be full of beans.
  7. Leader::While you may be a natural born follower, as a business owner, you will have to be able to lead. That means trusting an inner compass to guide you when there are no outside indications as to what step to take next. Because after all most of the people are followers and they ll look forward to u.
  8. Focus:: Related to discipline is focus - the ability to tune out ‘noise’ that can distract you from your goal. That noise could be people who doubt you, busywork, doing too much “social” networking, or perhaps worst of all, the noise inside of your own head of self-doubt, fear, or unrealistic expectations of yourself.
  9. Inspire:: To be an entrepreneur you need to be inspired. Be Self Motivated. For that u need to have an internal motivation that should keep u on toes. This is the only thing that can lead you out of one phase of your business and into the next.
  10. Emotionless with numbers::Whenever u are looking thru the spreadsheet or the financial statements do not let ur emotions overcome u. Read them,Undesrtand them just as numbers and take a decision.Remeber Mathematics is the most terrified subject. But its not numbers but emotions which make ppl fear of it.
  11. Analysis:: Related to being able to understand the numbers is the ability to look at the numbers in a variety of ways. Sometimes what looks like a dip in traffic/sales/whatever might also be a roadmap to a previously undiscovered opportunity. Be a Stats-a-holic.
  12. Discuss::Do not hesitate to discuss it with somebody close to u.Sometimes there might be a mind blockage. “Who said Entrepreneurs are God”. Look for help and come out of this situation ASAP and get back on track.
  13. Know thyself:: Every entrepreneur has strengths and weaknesses. A good entrepreneur plays to his or her strengths. A great entrepreneur plays to their strengths AND builds a business that can compensate for their weaknesses. That means knowing what you aren’t good at, admitting it, and structuring your workflow so that you don’t get in your own way.
  14. Right Combination of Ego and Humility::A little bit of big Ego can be an asset- it helps to get people talking about you and can help to increase your visibility. But there is a very fine line between a healthy ego and being an egotistical maniac. But bring too much humility to the game, and it comes off as self-doubt. Walking the line between the two will never please everyone, either - sorry, it just comes with the territory.
  15. Persistence::There will be times in the business when u feel like giving up and Quitting. Persist there. A few more pushes. A sincere effort with smart work is needed. This is where most businesses flop.
  16. Passion::U feel u want to do business bcoz everybody around doing it. Sorry Boss. u r again in the rat race but of different kind. Get out. AN everlasting Business is driven by passion and not some external motivations like money. Remember Money is just a By –Product of ur business.
  17. Vision: An entrepreneur is a leader and so he should be visionary. Without vision there is no theme and if u loose ur track there is nobody who can bring u back. So do not loose ur vision ever. It ll save ur drowning ship.
  18. Pro-active::U wouldn’t like ur competitors to beet u.So be proactive and act while others are still planning.U r not a manger after all. And don’t forget::Do not react but Respond to the situation.
  19. Executionist::The beauty of an Entrepreneur is that he is a perfect executionist.He chalks out the plan and change those plans from paper to reality. Sitting in the board rooms all the time is an illusion.So Live in reality.
  20. Time Management::Manage ur time.U don need to learn some rocket since for that. First things First. And the right balance of ur biz with ur personal life.Bcoz de day u get upset in ur persona life u might get into ur biz unknowingly.
  21. Meditation::After all these stuff, some might think it’s a super human task. No Boss.We are so used to a easy and lazy life that we get this notion. it helps to get people talking about you and can help to increase your visibility. But there is a very fine line between a healthy ego and being an egotistical maniac. But bring too much humility to the game, and it comes off as self-doubt. Walking the line between the two will never please everyone, either - sorry, it just comes with the territory. Meditate to find ur right balance and that ll instill many of the natural qualities in u which u need to be successful in any phase of ur life.After all we say “”It’s all by God’s Grace”.

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