Internet Users Hbk - Appendix A Your Personal Assessment - Entrepreneurship
Appendix A. Your Personal Assessment
In-Born Traits of an Entrepreneur
- Entrepreneurs have a Desire to Achieve: The push to conquer problems, and give birth to a successful venture.
- Hard Work: Are mostly workaholics.
- A Nurturing Quality: Willing to take charge of, and watch over a venture until it can stand-alone.
- Acceptance of Responsibility: Are morally, legally, and mentally accountable for their ventures.
- Reward Orientation: Desire to achieve, work hard and take responsibility, but also want to be rewarded handsomely for their efforts; rewards can be in forms other than money, such as recognition and respect.
- Optimism: Live by the philosophy that this is the best of times, and that anything is possible.
- Orientation to Excellence: Often desire to achieve something outstanding of which they can be proud
- Organization: Are good at bringing together the components (including people) of a venture.
- Profit Orientation: Want to make a profit; but the profit serves primarily as a meter to gauge their success and achievement. John G Burch Business Horizons, 1986
A Successful Entrepreneur Is One That
- Is motivated and who is able to motivate those around him / her
- Is able to manage time effectively
- Has the ability to leverage off strengths and overcome weaknesses
- Manages resources well
- Considers health as well as wealth
- Is flexible and able to adapt well to change
- Is willing to learn from others, Reads, Reads and Reads
Challenges of an Entrepreneur
- Uncertainty of Income
- Cash Flow Management
- Risk Of Losing Your Entire Investment
- Long Hours And Hard Work
- Lower Quality Of Life Until The Business Gets Established
- High Levels Of Stress, In-laws (Now Or Future)
- Complete Responsibility
- Are You Easily Discouraged?
- Do you feel personally stressed and feel threatened under pressure
- Constantly stake personal reputation and tend to give guarantees.
- Be hard yet more flexible and more streetwise than a corporate executive.
- Be good at multitasking – able to do everything.
- Intermittent, unpredictable income
- Self-Discipline, Patience, Listening, reading
- Personal technological competence, internet
- The buck stops with you!
- Think of new ideas and deliver them to the market and make a profit.
- Provide leadership to his team against established competition with minimal resources.
- Raise finance without a track record, collateral or internal experts.
- Pay staff first; you get paid when it is prudent to do so.
- Be prepared to lose everything if things go wrong
- Create Your Own Destiny
- Fulfill Your VISION, Ambition And Passion
- Make A Difference
- Reach Your Full Potential
- Reap Unlimited Profits
- Contribute To Society And To Be Recognized For Your Efforts
- Do What You Enjoy Doing And To Have Fun At It
Are You Entrepreneurial?
- Independence Seeking
- Wealth Seeking
- Opportunity Seeking
- Venture Seeking
- Risk Accepting
Are You Non-Entrepreneurial?
- Managers - Access Yourself
- Assess Your Own Capabilities, Resources And Characteristics.
- This Helps You Concentrate on Your Strengths As well As Identify the Additional Tools, Resources and Skills You'll Need - From Financing to Market Planning to Bookkeeping.
- What Do You Want?
- Do You Have The Right Skills, Temperament and Work Style?
- Have You Thought About what is involved?
- Are You Comfortable With Having All The Decisions Rest With You - From Employees, To Suppliers, Production, Sales, And Management?
Investigate – Why Are You Here?
- If you had a choice, what would you rather be doing?
- What concerns do you have?
- What is attractive to you?
- What is your idea or marketplace opportunity?
- What characteristics of an entrepreneur are important to you?
- What skills and experiences do you have that will help you become successful?
- What entrepreneurial skills and experiences do you lack at this point in time?
- How many months can you live without income?
- I want to be my own boss
- I have identified a new business idea or opportunity
- I feel I can achieve more in my life through entrepreneurship
- I believe my job opportunities are limited due to my age, skills and experience
- I want a career that will align better with my personal values
How Much Do You Know About Leadership?
- Problem Solving
- Emotional Intelligence
- Relationship Building
- Financial skills
- Personal Energy
- How do you know if you have this passion?
- Ask yourself. If you won the first prize in a competition, would you still want to be online and go into this business?
- When you love your work, it becomes contagious, as everyone around you is infected.
Personal Believe and Confidence
- Have trust or faith in a person or thing.
- Possess a feeling of assurance, especially of self-assurance.
- The state or quality of being certain: I have every confidence in my idea and my ability to succeed.
- Do you have a feeling of emotional security resulting from faith in one-self?
- Confidence is a firm belief in one's powers, abilities, or capacities
- “You gain strength, courage and confidence by every experience in which you really stop to look fear in the face” (Eleanor Roosevelt).
- Self-confidence, trust in one's own self-sufficiency
- A pledge to do, an obligation
- Something pledged, especially an engagement by contract involving financial obligation
- The state of being bound emotionally or intellectually to a course of action or to another person or persons
- “What one has, one ought to use: and whatever he does he should do with all his might” - Marcus T. Cicero
“A person with half volition goes backwards and forwards, but makes no progress on even the smoothest of roads” - Thomas Carlyle
What is Your Attitude?
- Your attitude is a frame of mind with which you approach a subject, a problem, a person or any circumstance.
- Either it is positive, negative or indifferent.
- The most important aspect of attitude is that you and you alone are in full control of it
- The choice is totally yours, your choose
- Hence, if you choose to look at things in the positive light, then you will find that many doors will be opened to you because positive outlook presents you with a “can-do” attitude.
Do You Have a Fear of Failure?
- If you are paralyzed by the fear of failure, you will remain inactive.
- No one wants to fail but when it happens, there is nothing to fear.
- Courage is not the absence of fear; it is moving forward through fear.
- Walt Disney and Henry Ford were both bankrupts.
- Walt Disney formed his first animation company in Kansas City in 1921. Flushed with success, he began to experiment with new storytelling techniques, his costs went up and then the distributor went bankrupt. He was forced to dissolve his company, at one point could not pay his rent, and was surviving by eating dog food.PopCrunch
- Henry Ford. Unfortunately, he focused too much on the engineering and not enough on marketing, resulting in poor sales and bankruptcy. He was forced to leave the business in 1902 after investors threatened to withdraw their capital. FreeInfoSociety
- It is the Kiasu syndrome, a self-defeating emotion that creates fear that gets in your way – FEAR of losing
- One who is afraid to lose out to someone else, often to the point of selfishness; an over-cautious person; afraid of losing out to someone else, and therefore often behaving selfishly and disregarding others; dog in a manger
Use Your Fear as a Motivator
- On the positive side, fear can be a Motivating Factor.
- “In this business, by the time you realize you are in trouble, it is far too late to save yourself, unless you are running scared all the time.” Bill Gates
- "Courage is doing what you're afraid to do. There can be no courage unless you're scared." — Eddie Rickenbacker
- If the fear is rational, it serves as a warning alarm about real risks you may be taking.
- If you pay attention to it, apply some reason to it, and think it through objectively, you can keep yourself from taking foolish risks. You can minimize the risks that are unavoidable. (Inc)
- Use fear as a propellant.
- The Dalai Lama: “unless you have a strong feeling of self-confidence based on a strong self, it is difficult to do battle with negative emotions”.
- It is the role of intelligence with the full awareness that is provided by education, to judge and accordingly utilize the potential for one’s benefit or well-being.
- ..”We have nothing to fear, but fear itself”. U.S. President Franklin Delano Roosevelt
- Your effective decisions are limited by your knowledge and understanding of business
Are You A Procrastinator?Procrastination is to put off doing something, especially out of habitual carelessness or laziness, or to postpone or delay needlessly. Some people just never get started. If you want to change your life, then you must take action.
- No Guts - No Glory
- Damn the torpedoes, full-speed ahead - Admiral David Glasgow Farragut, First Admiral of the United States Navy
- The Early Bird Gets the Worm - Meaning: Success comes to those who prepare well and put in effort. John Ray's a collection of English proverbs 1670, 1678
- Nothing Succeeds like Success - Meaning: the idea that success breeds further success. Sir Arthur Helps, in Realmah, 1868
TIP: You got the idea! The Scammers love to use these same phrases: Take action now, Do it today, Last chance! Only 5 copies are left. You are right; even some legitimate marketers may use some of these techniques
Are You PREPARED For The Challenge/TO accept The Risk?
- Are you well suited to running a company, what is your business experience?
- How much are you willing to stake, and what are the potential risks you will face?
- Will I be dedicated to this venture?
- How much of my time and myselfcan I commit?
- Can I manage the stress on myself and my family and friends at the start-up stage?
- How can I manage my time effectively?
- Long hours will test your character in many ways. Can you handle that?
- Does your venture motivate you enough to make you go for it?
- What is your MINDSET?
Are You Considering a New Business?
- If you are, have you evaluated, researched and really understand your idea or opportunity?
- Have you evaluated your personal needs?
- Does your idea or product, service fulfill a need?
- Do you have start-up capital and reserves?
- Can you face and make decisions?
- Are you ready to stick with it?
- Do you have adequate skills, resources, credit?
- Where do you get assistance, information?
What Do You Know About The Following Topics?
||Types and various methods of online marketing, Email, traffic sites, lead providers
||Selling eBooks, or reselling books and products?
||Track your sites, id’s and passwords
|Capital/ other expenditures
||Desk, Computer, printer, supplies
||Keep your computer running
|Cash flow Management
||Some sites charge a monthly fee
||Big boy affiliate marketing
||Affiliate products, shipping, payment, legitimate health
||Online communities and groups
||Spam, Watch social networking scams
TIP: If you have taken the time to go through the preceding and have been fair and honest with yourself; then take the time to make a plan of action for your personal development. Take little steps, but DO take the first one.
Are you a gambler?