April 2023 - Page 12 of 12 - BOLLYWOOD SURKHIYAN

An Entrepreneur – Who Is He?

When we are talking about an entrepreneur, it means we’re talking about a starter, an innovative person that is ready to think “outside of the box.” He is a skillful person, that has problem solving skills, and also, has that ability to take risk in a calculated way.

Who he really is:

A risk taker, who set up a business at a considerable risk, he takes the bold step in starting or venturing into a business without the fear of failure. He takes a calculated risk for him to avoid “getting his fingers burnt”.

A decision maker, who is responsible for every action performed in the business which can decide the growth or the failure of the business, he takes smart decisions that can make the set goals achievable.

A leader, who posses that inner strength to succeed, he has a foresight, he sees the beyond things. He is that kind of person that “make things happen” and not watch things happen. He gives direction to the business which can decide the success of the business.

A focused person, who know what he wanted and set to achieve it. He is a determined person with goals and believes completely in his ability to achieve them. His self optimism can often been seen by others as flamboyance or arrogance but he’s just too focused to spend too much time thinking about un-constructive criticism.

A composed person, who is wise and does things in order, he’s a relaxed and sensitive person to avoid mistakes which can cost him the success of his business. He’s not scared about challenges but faces it and tackles intelligently and smartly.

A creative person, who is resourceful, that person that posses the “skill of discovery”, mental alertness, innovative and he is always looking for new ways to improve his business. He has a different way of thinking, different manner of approach towards things. His exploits will surely make achieve success with ease.

A passionate person, who loves what he’s doing, he’s comfortable doing what he likes and know how to do best. He’s always optimistic and can never for once think of failure as an option. Running and carrying out his business activities is a pleasure for him He’s going to be successful because he’s doing what he loves doing!

He is an entrepreneur because he is everything that was mentioned above.

He is that person of many “success characters”, filled with that drive to succeed in his business. And he is a wonderful person.

Forced Entrepreneur

The current recession is still on despite claims of recovery. President Obama recently spoke at the White House and quoted the Department of Labor which estimated that US citizens have lost 3.6 million jobs since recession began.

For most losing a job is a calamity and yet there are some who handle this setback better. The great American spirit of survival seems to exist in them. They look for alternatives to make a livelihood and to live well. They may not have opted out of their jobs, but they certainly can deal with it.

How do they manage it? Are their prepared for it? What’s their gameplan?

Forty eight year old Bob Carlos was expecting a promotion as the Vice President of his company. He was unprepared for the recession and it hit him below the belt. Carlos reeled but rallied back to life. It’s then that he decided to do what he enjoyed most in life- sail. Soon he started using his knowledge to train others and to lead small excursions. Bob Carlos now leads a full life enjoying his job. He is making money in a way he never dreamt of. He now has plans to expand online and increase the scope of his customers.

Bob relied on his talent and expertise to pull his new found business through. Through a well planned strategy he started organizing camps and workshops and hired more people.

Bob Carlos was not an entrepreneur by choice. He was a forced entrepreneur.

Entrepreneurship is the ONLY way you can beat the current situation. No one’s hiring, no one’s extending much credit, no one cares; and you need the money and an occupation to keep you going.

More and more Americans are turning to this solution. The number of non-employer firms has risen steadily in this decade, from 16.5 million in 2000 to an estimated 21.1 million in 2007. So now’s the time to go back to your core competency. To improve your skills that have been neglected over the years. You may steer away from the specific job or branch that you were into or use those skills to help others.

Many people are making the recession a blessing in disguise to hone their talent and skills, to spend time with family and community, and to get connected to themselves all over again!

All you need is

– An exemplary skill set

– An eye for detail

– Ability to plan

– Lot’s of enthusiasm.

Wait- Before you chuck your job and set out to challenge your skills there something you must know.

According to the SBA – an estimated 637,100 new employer firms began operations in 2007 and 560,300 firms closed that year.

“Two-thirds of new employer establishments survive at least two years, 44 percent survive at least four years, and 31 percent survive at least seven years, according to a recent study. “

These results were constant for different industries. Firms that began in the second quarter of 1998 were tracked for the next 28 quarters to determine their survival rate. Of special interest, the research found that businesses that survive four years have a better chance of surviving long term. After the fourth year, the rate of firm closings declines considerably.

Earlier research has found that the major factors in a firm’s survivability include an ample supply of capital, being large enough to have employees, the owner’s education level, and the owner’s reason for starting the firm.

So where do you begin. Start with your heart and move on to brains.

I. Take a mental printout of these five attitude steps

– Start small if you want to but start today.

– Do not be afraid to fail.

– Everything in life is a learning experience to make a better you

– Enjoy what you do

– Find opportunities on the way.

II. Next start with your entrepreneurship plans. Ask yourself the following questions and write them down

– Your best skills

– Your strengths

– What you enjoy most

– Five years on what you would like to be

– The objective of your business

III. Next jot down opportunities associated with each skill

– Start with broad, get to specific

– Use the internet to search for opportunities. You’ll be amazed at what you’ll find

– Try to identify at least three opportunities

Now you will broadly know what you want to do or think that you know what you would like to work on.

IV. Time to get your brains into action

– Start to plan how will start the business

– Take into account the costs, time, demographic structure and ROI period

– Think of the area of your business

– Try to find a niche

If you follow this step you’ll identify the most suitable business to start with.

V. Time for research

The strategy for research will depend on your line of skill sets and the opportunity for them. Here it might be time for some expert advice especially if you are a bit shaky. You can either hire an expert to do it or do it yourself. Be thorough and explore all possibilities and start building a strategy.

VI. Strategy Time

If you are starting for the first time, ask an expert. There are lots of experts online who are willing to give away a few minutes of free consultation. Make most of it.

Opportunities

Opportunities for online entrepreneurship are galore; everyone seems to be moving online and finding a niche.

You can become an infopreneur by packaging your knowledge and selling it. The methodology may vary, but the objective will be to sell.

You have to simply decide a topic. It can be anything. Knowledge from your previous work/business experience, a hobby, passion or anything that interests you; even your grandma’s recipe!

Success stories need

1. Diligent Planning

2. Strategic Information

3. Goal Setting

4. Innovation

5. Contemporary Methods

6. Visibility

7. Good Customer Relationship

8. Identification of Opportunities

9. Sheer Hard Work

If you are one of those who think you have nothing special, I’m just an ordinary person with no skills or talents there are opportunities for you too. All you need to have is a website. From that website you can find affiliate opportunities, make ad money, manage content or sell products by partnering with drop shippers.

If still in doubt ask the expert.

Are You a Protopreneur?

What is a protopreneur?

We’ve all heard of entrepreneurs, haven’t we? And most know what a ‘micropreneur’ is. And a ‘solopreneur’ too. Even ‘mumpreneurs’ (and ‘Dadpreneurs’, according to Rachel Elnaugh). But what’s a ‘protopreneur’? It’s a made-up word, just like all the rest. Well, apart from entrepreneur – which, according to Dubya, is something the French don’t have a word for! (1)

It comes from the Greek ‘proÂ tos’ (first), which itself comes from ‘pro’ (before). Proto- tends to mean the form immediately before something emerges. For example a ‘prototype’ is the nearly-finished product, from which the final item that goes to market is developed. And ‘protoplasm’ is the earliest form of living matter, from which emerges all living organisms. ‘Proto-‘ means the very start, the point just before the actual thing itself is born.

OK, so that’s the derivation. But what actually *is* a ‘protopreneur’? I use it to describe a person who is standing at the brink of entrepreneurship – still in a job, but somehow certain that you should be doing doing something for yourself. You may even have an idea what you’d love to be doing, yet something’s holding you back from taking that first step – keeping you at the ‘proto-preneur’ stage, right on the cusp.

That hesitation, that niggling doubt, that obstacle to just taking the leap of faith, could just be nerves. Or it could be something more, it could be your intuition telling you that something’s not quite right, that for you this isn’t quite the right time, that there’s a fatal flaw in your plan. And the trouble is, it’s very hard to tell whether you’re holding back through procrastination or perceptiveness.

And you don’t have to be still in a job to be one. A lot of people remain in the protopreneur stage for quite some time after they leave employment, as you try to work out exactly what it is you do. In fact, from my experience, I’d say a good half of the people you meet around the networking circuit are in the protopreneur phase for a maybe a year, even two, as you try your hand at various things that seem like they’ll be fun or they’ll make your fortune, before finding that one thing you can stick at.

I’ve been there, I’ve been that protopreneur, on both sides of the employment divide, and I’ve seen it so often in others, I’m now on a mission to move protopreneurs on, to help them find their laser focus, to see them set firm on a course that will take them where they want to go.

(1) www.dubyaspeak.com

Making Way for Community Entrepreneurs

Community entrepreneurs are typically groups or organisations that seek out and act upon opportunities to transform communities and create a positive impact on community values.

Why this is different to social entrepreneurship is that many social entrepreneurship models focus on individuals and disadvantage.

Community entrepreneurship focuses on the community as a whole and creates a sense of abundance for all.

Examples of activities can include:

• A new indoor-outdoor community facility in a built up neighbourhood

• A community focus on activities that reduce the carbon footprint

• Business attraction in rural communities

• Making strategic use of IT to connect communities

• Creating community identities through music and the arts

What does a Community Entrepreneur look like?

They’re in your community. They have a story to tell – a story that has transformed your community. Or they probably haven’t stepped forward to make their mark yet? Maybe it’s you. Here are some ways to spot your local community entrepreneur or even one in the making.

The anatomy of a Community Entrepreneur

1. Laser sharp vision

Community entrepreneurs have a clear idea of what they want to achieve – both physically and in terms of impact on the community. Their vision is ambitious and ground breaking by anybody’s standard. Their challenge is not just to get the interest and support of the community, but to keep the community patient as all good things take time to build.

2. Mind over matter

Bringing a new idea to fruition requires strategic thinking. People can be suspicious of anything new. New ideas challenge those who are slower to accept change. From the start community entrepreneurs think and plan above the fray.

Conserving energy to focus on achieving results, community entrepreneurs focus on big picture thinking. Don’t try to bog them down, they will find a way to move ahead no matter what the obstacle.

3. The language of change

To be effective, they must be able to understand and communicate well to influence change. These groups operate within the community so the change they are influencing impacts on them as well. They are already talking the language of the community.

Their role is to motivate and lead through dialogue within the community and get the support of stakeholders and other agents of change to achieve the desired results. Failure is not in their vocabulary.

4. Shouldering responsibility

Leadership is a responsibility not to be taken lightly. Along the way others may want more control or will fade into the background when things are not going to plan. Individual personalities can make or break a community venture. At some point the group leading the project must step forward and own its responsibility, especially when it comes to finances, resources and process.

5. Maintaining a steady balance

They leave the knee jerk reactions to others. Negotiations require a steady nerve as they walk the tightrope of change. Navigating obstacles, ducking the slings and arrows of opposition, community entrepreneurs harness their vision and start with a goal and use a plan to get there.

6. Forward momentum

Community entrepreneurs are going places. No looking backwards for them. Propelled by positive energy that permeates throughout the community, they will succeed.

The only thing holding you back is your own self-doubt. Group think can get bogged down in dogma. Smash the chains once and for all and bring the dream to life.

Is your group the next generation community entrepreneur? Congratulations. There’s no better time to start than now. Don’t let self-doubt win before you begin.

Caultivating an Entrepreneurial Skill Set

Entrepreneurship is a skill that seems elusive. No one seems to have a satisfactory answer to the question of whether an entrepreneur is born or made. Some people claim that there are people who are born with a special skill set – ambition, business sense, independence, creativity – and that this is the makings of an entrepreneur. They point to cases like Rockefeller, Steve Jobs, and Bill Gates to make their point.

There are other successful businessmen who didn’t start out in an entrepreneurial vein, however. Many successful businessmen started in managerial positions, or even lower positions, before catching entrepreneurial fever. These people are what could be called “made” entrepreneurs.

The question then becomes whether there are certain traits that are common to all entrepreneurs, and necessary for successful entrepreneurship. The answer is yes.

First, a strong sense of independence is crucial. By default, an entrepreneur is independent. For someone to be willing to leave behind a secure position or even a promising career for the risk and uncertainty of going into business for themselves, there needs to be a fierce drive for independence. Any successful entrepreneur will value the ability to chart his or her own destiny over the value of being safe and secure in a regular job.

The ability to maintain focus is the second necessary skill for successful entrepreneurship. It’s not easy starting your own business. There are so many little things that you have to keep track of. Everything from finances to inventory to marketing to employee relations is all your responsibility.

You have to be able to keep your focus on your goal. If you can’t, then your mind will wander and your profits suffer. Business success requires focused effort. All successful entrepreneurs know this, and are able to be disciplined about matters.

The drive to succeed is the final key ingredient to successful entrepreneurship. Without this strong motivation to be successful, it will of course be very easy to lose heart and let your business simply fold.

The startup period is a difficult and critical period in the life of a business, and it can be most disheartening. There is so much work that needs doing, and there are so few clients at the outset! A big part of the entrepreneur’s challenge is to stay motivated during these bleak periods. Plus, to keep your business moving forward you also have to safeguard employee morale.

These three components are the ones that I believe are utterly critical for any person who hopes to be a successful entrepreneur. That does not mean that other qualities, such as creativity or patience or even luck, aren’t also important. But, to me, the three I have listed above are the critical ones that will mean the difference between success and failure.