 |
Entrepreneurship … a Leap of Faith
Author: Terry H. Hill | Posted: 18-08-2007 | Comments: 0 | Views: 21 | 
 Entrepreneurship is a multifaceted adventure that, without a doubt, closely resembles a roller coaster ride. When you begin an entrepreneurial journey or “ride,” you are aware of the gamut of experiences, both disappointing and rewarding, that you will encounter as you undertake this challenge.
Entrepreneurial challenges are not unlike most challenges in life. Hard work, long hours, and anxious moments are just a few of the characteristics of the journey to most successful outcomes.
Reoccurring questions often roam the business mind, and---although they may be phrased in a variety of ways---are basically centered on these four primary issues: more sales, more cash, more time, and more of the “right” people.
Starting your own business is an undertaking that requires more than vision, inspiration, sweat equity, money and determination. It is a leap of faith that demands that you let go of everything that is safe, comfortable, and proven. It is getting “outside the box” in the biggest way possible.
Beginning a new business venture can be risky, dangerous, and harrowing. However, with the proper preparation, the appropriate knowledge, and the counsel of a mentor or a trusted advisor, it can be a liberating and an extremely rewarding experience.
There’s a reason why many of America’s most successful people are entrepreneurs who started their own business and then saw them take off to unimaginable heights. There’s a reason why the Horatio Algers of the world continue to inspire thousands of entrepreneurs every day. There is a reason why some of America’s greatest companies started with an idea, with meager seed capital, and with an individual who had a maniacal belief in the potential of an idea, and--- along with determination and perseverance--- saw it through to success.
However, for every success, there are hundreds of failures. The statistics are not only sobering, but downright frightening. More than half of all businesses started today will fail. The failure rate is astounding. Take a look at recent U.S. Bureau of Labor Statistics data, and this is what you will discover: After two years, across all sectors, 44 percent of all new businesses are no longer in business. After four years, 66 percent no longer exist. And, these survival rates don’t vary much by industry.
What do the statistics tell us? That most new businesses—whether they’re founded on the most brilliant idea since the theory of relativity or production of a mundane but exquisitely necessary manufacturing component—are making fatal mistakes that will ultimately lead them to bankruptcy. This much is certain. If more than half of all new ventures fail, there are lessons that are not being learned. Rate this Article:
Article Source: http://www.articlesbase.com/entrepreneurship-articles/entrepreneurship-a-leap-of-faith-200476.html
About the Author:An author, speaker, and consultant, Terry H. Hill is the founder and managing partner of Legacy Associates, Inc., a business consulting and advisory services firm based in Sarasota, Florida. A veteran chief executive, Terry works directly with business owners of privately held companies on the issues and challenges that they face in each stage of their business life cycle. Terry is the author of the business desk-reference book, How to Jump Start Your Business. He hosts the Business Insights from Legacy Blog at http://blog.legacyai.com and writes a bi-monthly eNewsletter, "Business Insights from Legacy eZine."
By signing up for Business Insights from Legacy eZine at http://www.legacyai.com/Business_Insights_eZine.html you can keep abreast of the latest tips, tactics, and best business practices. You will, also, receive the free eBook, Jump Start Your Knowledge of Business.
Contact Terry by email at http://www.legacyai.com or telephone him at 941-556-1299.
|
Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free! |
|
Related Articles
Patel Shines With Sunbelt Business Brokerage Chain
By: SunbeltNE | 19/12/2007 | Entrepreneurship
Patel is the Chief Executive Officer and President of Sunbelt Business Sales and Acquisitions franchise in New England that has four offices in Massachusetts, and plans to expand to another six offices over the next three years. SunbeltNE also focusses on mid-market Mergers and Acquisitions deals. Patel commands the reputation as one of the leading business brokers in entire New England.
Setting the Criteria for Business Success
By: Adele Sommers | 16/12/2007 | Business
Aligning our life passions with our business purpose can help us define a set of "business success criteria." Until that occurs, we might be unable to recognize the options that truly fuel and inspire us -- those that are best suited to our values and strengths. Once we develop these important criteria, we can select worthy endeavors with much deeper insight, as well as choose the best possible collaborators, clients, and employees.
Why The Internet Is A Good Place To Develop Small Business Ideas
By: Steve A | 10/04/2007 | Business Opportunities
Starting up your own business is quite a lucrative prospect; however you need to have small business ideas to go about it correctly. Here's how you can turn the internet into a profitable idea generating machine!
Is Midlife Entrepreneurship for You?
By: Susan L. Reid | 19/02/2008 | Entrepreneurship
Do you think entrepreneurship is just for the young? That anyone past 50 is too old to start up a business? That midlife is when you should be thinking about retiring and preparing to live on less? If you do, then midlife entrepreneurship isn't for you. However, if you like to call the shots and live life on your own terms, then midlife entrepreneurship may be right for you. Here are 10 Reasons for Becoming a Midlife Entrepreneur.
Is Midlife Entrepreneurship for You?
By: Susan L Reid | 19/02/2008 | Business
Do you think entrepreneurship is just for the young? That anyone past 50 is too old to start up a business? That midlife is when you should be thinking about retiring and preparing to live on less? If you do, then midlife entrepreneurship isn't for you. However, if you like to call the shots and live life on your own terms, then midlife entrepreneurship may be right for you. Here are 10 Reasons for Becoming a Midlife Entrepreneur.
The Qualities That Define A Successful Entrepreneur
By: Steve A | 16/04/2007 | Management
Entrepreneurs are strong willed, tolerate risk, dream big, and don't understand the word no. They are a rare breed, but successful entrepreneurs are not born; they are made. Read more to find out how you can develop the qualities of a successful entrepreneur...
Startling Facts On Starting A Business
By: Jimi Adeboyejo | 02/12/2006 | Business Opportunities
This is a short write-up about starting a business.
From Employee To Entrepreneur: 5 Steps To Get You Started!
By: Suzanne Mulvehill | 04/11/2007 | Business
The first time I left my job to begin an entrepreneurial venture, I was ready. I had money and a business plan. What else did I need, I thought? I gave notice to my employer and to my surprise, fear set in immediately. I didn't leave my job...that time. I...
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
Today's Best Website Traffic tip?
By: elenafraga | 02-05-2008
What's the best internet marketing tool TODAY to get traffic to your site?
Too many items in startup. Slows down computer. Do ...
By: FLATS | 14-04-2008
Too many items in startup. Slows down computer.Do I need recguard? Jusched? Apdoroxy? Reader_si? Cctry? Qoeloader? Cavrid? Mnyexor? Crfmon? Msmsgs? Any help apprciated.
Buzz Bites Energy Vending Business Opportunity - has anyone one had this bad?
By: Rippedoff | 02-04-2008
Excel help!!
By: ALizarraga | 17-03-2008
Hi ! I have a question about the NEW excel its driving me nuts!!! In the older versions of Excel I could Make a Title for my spreadsheet and press Enter if the title was too long so that the title would follow below the top portion. Now with the New excel Its become So hard!! someon PLEASE HELP! i need to do this so i can print out spreadsheets on a single page! Thanks!
For the women who want to work or own their own biz
By: PeaceMaker | 08-03-2008
For the women who want to own their own Biz.If you wanted to own your own biz , or partner up with someone in a biz what type of biz would it be & would it be enviramental or regular please be very persise , explain of whay , how you would run , operate it as well as do to keep it open expand it , advertise it , its Items , sale beside the newspaper ads, sale signsnear the Items , on the store windows as well as many other thing that would keep it going even with you not around any more but it would still be going strong.
Help my sorry, loser butt get out of my mom's basement and help me grow my idea into my money tree
By: notgonnagetany | 22-02-2008
How can I protect and make money off an idea that isn't based on a product that can be produced or manufactured for the idea is based on an original concept or theme?
Q&A Powered by: 
Latest Entrepreneurship Articles
Take a Closer Look Before Starting a Personal Trainer Business
By: Joe Garnett | 14/05/2008
Before starting a personal trainer business it is a good idea to evaluate if it is the right venture for you. Find out now by reading this article.
Limiting Business Risks and Reaching for Success
By: Nazeer Daud | 14/05/2008
Entrepreneurialism in business is the driving force behind success. While everyone may naturally associate entrepreneurialism with business, they are not necessarily linked concepts – a business person may not be an entrepreneur, while an entrepreneur might not be the finest example of entrepreneurialism in practice. Nevertheless it is critical to encourage this behaviour, for the health and well-being of the global economy.
Get Off the Internet
By: Maryellen Tribby | 12/05/2008
I've got a secret to getting your internet business to leap forward: Get offline. Here at ETR, we're all about multi-channel marketing. Basically, it means that you should market your business in as many ways as you can.
What is Barter System?
By: Amirulcyber | 11/05/2008
It can named as ‘business' between 2 or more party without involved money.It sound weird because it is difficult to imagine how the transaction occur without involving money.But that is the fact.At that time because money is not existed yet anyone who want have anything can exchange their product with other people whereas people who have any kind of service can exchange with people who have service as well.
Should I Pay Someone to Write a Business Plan for Me?
By: Joshua Saunders | 09/05/2008
New business owners and entrepreneurs often ask, should I hire someone to write a business plan for me? This article provides sound advice on creating your business plan.
Easier to Get Rich Than Ever Before
By: Chris Zavadowski | 09/05/2008
Things are lookin' up! With almost 8 million millionaires in the world, top Internet marketer and network marketing trainer, Chris Zavadowski, discusses the REAL state of the economy (and it's certainly not what you see on the news).
Make Money With a You Tube Theater
By: Mark Williams | 09/05/2008
A YouTube video theater in your very own town? Oh, but it’s so much more than a theater too…
The Advantages of Business Franchising
By: Nazeer Daud | 08/05/2008
If you are looking to start a business using the franchising model, then there are certainly lots that you have to consider before hand. It's also, probably, wise to consider consulting with a suitably qualified specialist.
More from Terry H. Hill
How to Create a More Positive Cash Flow
By: Terry H. Hill | 10/03/2008 | Small Business
Positive cash flow does not happen by accident; it happens because a well-defined financial management technique called "cash management" is functioning. A good cash management system helps to efficiently and effectively manage the activities that produce cash.
How to More Effectively Convert Your Accounts Receivable Into Cash
By: Terry H. Hill | 10/03/2008 | Small Business
To more effectively convert accounts receivable into cash it's essential that the credit and collection process be highly efficient in order for you to shorten the accounts receivable cycle time. The shorter the cycle time, the less time cash (capital) is tied up in the business process, and thus...
Business Opportunities…how are you Responding to Those That Come your Way?
By: Terry H. Hill | 25/09/2007 | Business Opportunities
The need to examine and to determine whether or not a particular business opportunity and/or idea has any chance of success prior to financial commitment is critical.
How Do you Measure the Risks and Rewards That are Associated With your Business?
By: Terry H. Hill | 18/09/2007 | Business
It is important to determine how much risk you can withstand in a new venture or the expansion of an existing business. Before you even consider launching or expanding an existing business, you need to have strategies in place to offset potential losses or unforeseen challenges.
How Do you Sustain and Grow your Customer Relationships?
By: Terry H. Hill | 18/09/2007 | Business
The most important thing in sales and marketing is to attract and retain your most profitable business customers. In order to accomplish this feat...
Thinking Inside or Outside the Box… Where are You?
By: Terry H. Hill | 29/08/2007 | Business
Interestingly enough, as a small business owner, "thinking outside the box" is precisely the behavior that inspired you to set off on the entrepreneurial path in the first place. The tough challenge is sustaining your original visionary mindset.
The Rules of the Game of Business
By: Terry H. Hill | 29/08/2007 | Business
In many ways, the rules of the game of business are similar to the once popular quiz show of the 50's, the $64,000 Question. The rules are simple, in that,
How Do you Differentiate yourself From your Competitor?
By: Terry H. Hill | 18/08/2007 | Business
Competition is a natural and integral part of doing business. How successful you become at competing depends on how you position your business relative to your competitors.
|
|
Business 
