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The 5 Practices of Wildly Successful Entrepreneurs by Ed Abel

Written by: Edward Abel

Article Overview: It's Time to Face the Truth. Are you an "Entrepreneur" or a "Skillpreneur"?

The 5 Practices of Wildly Successful Entrepreneurs by Ed Abel

It's Time to Face the Truth.

Are you an "Entrepreneur" or a "Skillpreneur"?

Entrepreneurs...

1. Have a vision: Entrepreneurs bring more than skills and experience in a particular field to their business. They have a vision for their product and/or service, and they understand the market it will serve. Their vision includes a mission statement that reflects the purpose, image, and social responsibility of their business. "Skillpreneurs" bring skills and not much else to the table. "Skillpreneurs" follow their business; entrepreneurs lead their business.
2. See the big picture: Entrepreneurs step back to look at the big picture. But "skillpreneurs" are so busy working in their business that they are often blind to the changes in their industry, as well as the growing pains of their own business. The big picture includes dealing with challenges and problems, too. Entrepreneurs are ready to take on the challenges because they expect ups and downs. But "skillpreneurs" often buckle under the stress of challenges because they are serving their clients and trying to solve problems at the same time.

3. Understand the importance of a business plan and goals: The business plan is the entrepreneur's guide. It includes goals for all aspects of business development: operations, marketing, sales, financial management, customer relations, employee relations, procedures and more. Entrepreneurs also know that the fastest way to move forward is with SMART goals (Specific, Measurable, Attainable, Realistic, Tangible and Time-Bound). "Skillpreneurs, who are typically caught up in the skill phase of their business, have little time to take the "smart" steps and follow the business plan and goals they created.

4. Are willing to delegate: Entrepreneurs know they can only go so far on their own. In fact, entrepreneurs look forward to the day they can hire employees or independent consultants, so they can focus on growing their business. Entrepreneurs also recognize the value in hiring those who possess the skills they lack. "Skillpreneurs," on the other hand, typically believe that by hiring a staff or working with independent contractors, they are giving up control of their business. But by refusing to get help, the only thing "skillpreneurs" give up is their ability to grow their business.

5. Create systems: Entrepreneurs understand the value in creating systems. In fact, the Internet, software programs, and the ability to automate just about every aspect of a business are some of the greatest gifts to entrepreneurs. Entrepreneurs create systems because they know it's crazy to do the same thing over and over again. Because "skillpreneurs" are caught up in the day-to-day tasks of running their business, they go crazy trying to keep up.

Now that you know the difference between an entrepreneur and a "skillpreneur," which one are you?


Copyright � 2007

To learn more about SMART Goals,The Accidental Entrepreneur and to see past issues of Ed Abel's Business Boosting Ezines,go to www.edabel.com

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Article Tags: business coach, business coaching, business consultant, business owner, business owners, business training, entrepreneur, ideas for small business, opening a start how to business plan



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