The Entrepreneurial Spirit
What it is, how to access it, and applying it to your life.
One of the most wonderful characteristics regarding business in our modern day world is the way in which each and every one of us have the opportunity to build something magnificent.
We hear the stories of those who have started with absolutely nothing, managing from the ground up to create a thriving empire. We know of others who have passed down an already successful business, the receiver of such instilled with the task of continuing to lay down the road that leads to success.
But no matter the details contained within each of these individuals lives, as the truth is that all of our stories as human beings are entirely different, they have all become a person of which may be titled an ‘entrepreneur’.
And although there are some key characteristics that maintain validity when describing these different individuals, being an entrepreneur doesn't always have to be something that is intended. Just as likely as someone can define themselves as such from the day they decide that running a business is their future calling, this can also arise out of pure coincidence and pure chance. But one commonality of all successful and self-made individuals, while luck and chance can be a part of the equation for success, there is no substitute for hard work, self-discipline, perseverance, and the ability to learn from mistakes and use them as teaching moments to continue to evolve and improve.
If you have ever, even once, considered the idea that you want to become an entrepreneur; then it is essential to first realize what the entrepreneurial spirit is, and how to access it so that it can be actively utilized for your business goals. But before discussing what the spirit is, it is also important to first note that not all of us are necessarily born with it.
Instead, the entrepreneur spirit is simply something that we can try our best to manifest into our own daily lives and business goals so that we can use the characteristics defined within it to help position our minds for the lifestyle, the challenges, and everything else that arises from the process of becoming a business owner.
By acknowledging the certain thought processes and mindsets of those who are already finding success in the wide range of current marketplaces, you can implement your life story into your own process by realizing you are always unique enough to excel in this world.
What is the entrepreneurial spirit?
The entrepreneurial spirit is a way of thinking and it is a way of life. It is everything that embodies the mindset, the actions, and the attitudes that make up an entrepreneur. Although every entrepreneur is different, most maintain the general characteristics below. And whether you feel as though you are already similar in your ways, or if you do not find yourself thinking similarly to such, regardless;
Everyone can be an entrepreneur!
So instead of turning away because you feel as though these traits do not hold true for yourself, instead use this void as an opportunity to fill it with as much knowledge as possible, and by doing so you will already be manifesting the first trait of an entrepreneur: The desire to learn.
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The Desire To Learn!
When it comes to business you can simply never stop learning, and indeed the spirit of an entrepreneur begins by learning!
Not only must you maintain the highest extent of knowledge in the niche of which your business is built upon so that excel past your competitors with style, you must also have a secured grasp on what business is in general and how it functions in our society.
There are a lot of technicalities involved with businesses both small and large.
What kind of business should I start? An LLC, a sole proprietorship, a partnership corporation, an S corporation.
Do I need liability insurance for my particular business? How much should I expect to pay my employees and to pay in taxes? And the list goes on, on…. And on a million times over.
So if you did not know the definitions of said business structures, if you have the innate traits of an entrepreneur, then I can almost guarantee that you have stopped for a moment and searched into google those different terms. Because that is just it! You have a desire to learn, and when a question arises of which you do not know the answer to, you immediately begin digging.
And by reading this, I hope you acknowledge the necessity of learning about business, because if you are not willing and able to endlessly secure the information of which you need to succeed, then you will find the path to entrepreneurship a challenging one indeed. Knowledge is the building blocks to everything in life, and this will never hold more true than for something like business.
If you are constantly seeking to further your brainpower and to enhance all that you know, then you have one of the most keystone elements in defining the entrepreneurial spirit.
When you see something good, you think to make it better.
With the massive amount of population in our world, it can be very intimidating to think that you can single handedly come up with an idea that is destined for success. And truthfully, this is not an easy task, as so many ideas have already been thought up and acted upon; but that doesn't mean there isn't room for you!
If you see a business idea and you immediately think of a way of which you could make it better, a way that you could make it more personal, more powerful, or more widespread- then you have the spirit of an entrepreneur.
Just because something has already been done absolutely does not mean that it cannot be done again. Instead, it must be simply executed in a way that makes it unique and different.
Take, for example, the bread aisle. Do you realize how many bread companies are out there in the world, each one creating packaged bread that in the end are all the same? Because bingo! Although they are the same, they are also so very different.
Some are whole wheat, some are organic, some have more appealing packaging. But they are all bread!
Never let the thought process of feeling scared to pursue something because others already have, and instead use their success as inspiration for the fact that your idea was, and already is, successful; and by adjusting accordingly and implementing a few different ideas that will set you completely apart, you can compete with great prowess.
So if you already begin the thought process of seeking out how you would make a business or a product better, then you have an excellent trait that comprises part of the entrepreneur spirit. And if you do not tend to do this, but you still wish to be an entrepreneur, then use this as advice for broadening your horizons, and begin coming up with your own ways of enhancing a product the next time you are out and about.
When you have thought up a vision or idea, someone with the true spirit of an entrepreneur will then communicate this vision with those around them. Even if the origin of your idea spanned from outside inspiration of what others have done, that is entirely okay!
Not all entrepreneurs are inventors of new things. There are plenty of ideas that we hear about that simply require a committed and organized person with an ability to strategize, execute, galvanize and motivate a team to understand that vision to buy into it and make it happen.
You thrive from losing and better yourself through hardship
If your first ever business venture is a successful one, then you are either really really talented, or overall just very lucky. The truth about business is that before they become anything, the person on the end of building it must suffer through losses and hardships again and again.
And the range of these hardships vary far and wide.
A lot of time they are financial. Although there are plenty of businesses of which you can start that require no capital, most of the time it really does take money to make money. And the money you invest can very easily wisp away into the thin air, as losses are almost guaranteed in small business startups.
If you have the true spirit of an entrepreneur, then you will be entirely okay with accepting the fact that there will be monetary losses on your end when building a business. You will take this to heart, and when it happens, you will simply re group, save more capital, and start again.
As well as this, you will love the process of losing, because in the end you are trading the capital you lose for knowledge that in the end can become far more than what you originally invested once your company begins generating revenue, and you will realize that it was all so very worth it.
Just as well, the hardships that arise from entrepreneurship endeavors can be very draining and very painful in a personal, and sometimes physical sense, as building a business really does take blood, sweat, and tears. People will often reject your idea, and it will hurt, but do not let the hurt become negativity. Instead, take what they have said to heart, because no matter if they were wrong or right, they have provided to you an outside opinion that can help you to better direct your future.
When you have the spirit of an entrepreneur, you let none of this bring you down, and you instead thrive on losing, because in the end;
Losing simply makes winning feel just THAT much better. Know this, hold it true to yourself as you battle your way to the top, and feel the effects of what that statement really means once you are sitting on your throne.
You are not afraid to ask for help
If you alone had every aspect and piece of knowledge required to start a business, then you would probably already be sitting pretty with the title of ‘CEO’. There is no possible way that only one person can tackle the every need of building a business, from intricacies like funding to simple things such as asking for advice.
The sprit of an entrepreneur shines when asking others for help. It all ties back to the other characteristics as well, because when you ask for help you are learning, you are taking others viewpoints of how to improve, you are learning how to improve the negatives of your business, and you are NOT AFRAID TO ASK FOR HELP!
Businesses are so complex, and oftentimes those who already have the knowledge of which you are seeking are more than happy to share it with you, as chances are they were once in your same exact shoes. But they will never be able to provide you with this advice should you fail to ask for it.
Just as well, a lot of funding can come from your family and friends, but it is your responsibility to make it known to them that you are starting an endeavor that may require their capital investments. Don't be intimidated in asking for their help, as you should be confident enough with your business idea to know well that you will surely pay them back, and you should hope to hear their outside input on things as well.
Seeking a mentor is one of the greatest assets to a new entrepreneur. Someone who can help to walk you through the process and to provide advice when they see situations that they have already managed to figure out. You never know who is out there in this world that is willing to offer you their help for nothing in return, so it is the responsibility of the spirit of the entrepreneur to seek out advice and always ask for help when needed.
And as well as asking for help, an entrepreneur often finds his/herself ALWAYS discussing ideas with friends and family members. You are willing to tell them what is on your mind and you are eager to hear their response. You take all that they have to say and ponder it over in regards to how you can implement what they have to say into your ideas. You seek help, but you also seek general advice and direction from those closest to you.
You understand that good things take time, and you are willing to put in the work.
Okay, here's another cliche for you that holds as true as ever when speaking on the subject of entrepreneurship:
Rome wasn't built in a day!
And no business will be either. Businesses take so much time from the point of which they become an idea to actually manifesting into something tangible. If you have the spirit of an entrepreneur, then you realize that the entirety of entrepreneurship is a never ending process.
And with this time, you will be working hard and diligently throughout it. You must be okay with accepting the fact that when you get home from working your day job, there will simply be more work waiting for you. This should not bring you down, however, and it should excite you. Because putting in the time will definitely remind you that you, right this very second, are executing one of the most essential traits of being an entrepreneur.
If you are willing to work day in and day out on whatever it is that your idea may be, then with time I can almost guarantee you will find success. So many quit too soon because they do not believe that they are seeing the proper strides, and perhaps the day they quit was the day before they were supposed to land that big client.
Never let the present dishearten you, and embrace the process of working hard. This will grant you so much respect in the world of business, and your inspirational story will go on to motivate others in the same position. You will also feel wonderful about yourself, for when you look back you will realize how incredible it was to fight through the time and the hard work of what it takes to make anything in this world.
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