Many people have a lot of myths about what being an entrepreneur is and how it will shape/affect their life that are simply not true. Top 10 Entrepreneurs in South Africa and these are the seven biggest myths that I continuously hear.
1. Being an Entrepreneur is too risky for me.
Starting your own business in these days is not too much more risky than trying for any other corporate job. At a corporate job you can be laid off at any time, Mention Two Successful Entrepreneurs In South Africa have benefits cut with no reason, and work long overtime without being compensated for that. If you are student as well, the risk can’t be that bad. It’s not like you have a mortgage or family to support if it fails.
2. I am too young to start my own company
Being young is not a negative, in fact in most cases it’s a positive! When your young you have the passion energy and enthusiasm that is needed to work 14 hour days day in and day out for a company you believe in. Most older people with more experience just don’t want to do that any more.
3. I have no experience
Again, Top 10 Entrepreneurs this can work towards your advantage. Your lack of experience means that you are looking at everything with a fresh set of eyes. You wont get stuck in the “we have always done it that way” kind of thinking that can stop other entrepreneurs. Running your own company will also build much more valuable experiences than a job flipping burgers will at your age.
4. It is not the right time for me to launch a business.
As a student you have a schedule that is completely flexible and large blocks of time between classes and on breaks to start a business. Campuses have tons of resources you can harness as well, Successful Entrepreneurs In South Africa And Their Roles so there really has never been a better time than now.
5. If I am running a business my grades will fall.
Running a business takes organization and discipline. If you are organized and disciplined in one area of your life it will probably pass over to the other areas of your life as well. Many student entrepreneurs I know actually report their grades increasing once they started a business.
6. Student businesses are just small rinky-dink operations
Some student business that started as just rinky-dink operations were Dell, Google, and Microsoft. You have probably heard of those companies right? That is because they were great ideas and hard work created products that had potential to expand from their small beginnings. Your business can too!
7. I don’t have any money! I can’t start a company
Everyone seems to think only millionaires start companies. This is simply not true. Most companies are started with the founders savings and no investment capital. Start with what you can and work hard. Things will come together if you want them to come together. You will be amazed at what you can do!
Top 10 Entrepreneurs in South Africa?
Traits to Manifest Towards a Successful Entrepreneurial Venture
Do you know why a lot of entrepreneurs succeed with their businesses? Well honestly, theyve got positive traits that aid them in their success. So, do you have them too?
Almost every successful entrepreneur when asked about their acclaimed success would merit the deed to their attitude. They will surely tell you that it is all about attitude. Yes, it is all about nothing but positive traits to get an entrepreneur going in the business. The real sense of business has changed in meaning and in phase all throughout the years.
Let us credit it to the advanced technology that we are all enjoying these days. Computersthey are all around. With the computers come the internet and the power of the web so as with the email and web pages. The telephone system has likewise changed over time which includes the advantages brought about by voice mails and cell phones.
Now these technological aids are only mediums that make the flow of businesses in smooth transition. Nothing and no one can ever disregard the importance of the positive traits imbued in a person which makes a successful entrepreneurial possible by all means.
Are you then a budding entrepreneur? Do you think you will be capable of dealing with all of the advents alongside entrepreneurial ventures? Then read on so you will learn how to assess your personality and if youve got the needed traits of a potential entrepreneur.
Would-be-entrepreneurs must know how to set goals. Now the setting of these goals starts at the tender age of an individual. Ones being a youngster needs to be coupled with discipline in the setting of future goals.
The building up of these traits is usually influenced by the factors such as the parents and the educators. For people who do not belong to the upper class, they are able to realize that when they want something which they know their parents would not be able to afford, they will surely work for it in their own little ways.
When it comes to entrepreneurial, the person is aware that the decision-making lies in his own hands so he will likely turn out to be very responsible.
After the goals have been set, a thorough working out of it is needed. What are goals if they will not be materialized? In order to reach these goals, a person must strive hard and learn the craft of organization, discipline, and risk-taking.
Next, one who has the dream of venturing into entrepreneurial knows how to assess his own strengths and weaknesses. What are you good at? What can you do? What are you capable of giving out in the business? On the other hand, what are your usual failures? What shortcomings are you prone to be subjected to? When entering into any form of entrepreneurial, facing ones fears cannot be set aside. One must be open to all possibilities in the phase of the business industry.
An entrepreneur must have a nose for business opportunities. What is most likely to be appreciated by the customers? What trend is hot in the business? The truth is that newbie and oldies in line of entrepreneurial must not stop seeking for opportunities and possibilities that will work best in todays current time.
After such opportunity has been spotted, an entrepreneur must grab such chance and make the best out of it. Talk about taking advantage! There is always that competition which cannot be rid of but then ones success in business is always measured by the realization and materialization of the set up goals.
Entrepreneurial also equates with the ability of being able to efficiently manage and handle every little thing concerning finances and budgets. When one is unable to control the outflow and inflow of the finances, then the business may be up to closure in no time at all.
Entrepreneurs must know how to recognize the first best. Any opportunity is worked out to turn out to be the best in the area. Experiencing fun in whatever endeavor is always vital for a successful entrepreneur. Entrepreneurs also know the time when they need to seek for help. They are no super heroes so they also need aids from other people.
The question now is, do you have such traits? Will you also be a tailor-made entrepreneur someday?
Entrepreneur Training Program: Why is there a need for it?
A new idea is merely the combination of two or more old ideas. The creation of a new idea is the critical first step in establishing any business.
People who dream of setting up their own business but dont succeed, generally fall into one of three categories:
too few ideas
too many ideas or
waiting for the perfect idea.
Any of these three states of mind may hinder the budding entrepreneur.
Would be entrepreneurs with too few ideas.
These individuals typically say if only I had an idea for a business.
Just remember that if you say you dont have an idea it really means you have no-idea! If this applies to you, you need to get cracking on that first idea fast! As soon as you are able to dream something up, youll have the essential ingredient that all successful businesses are built upon.
Would be entrepreneurs with too many ideas.
Can you ever have too many ideas I hear you say? Well if your creative process leaves you feeling overwhelmed for choice then its definitely a possibility! Many highly creative people experience inertia in business purely because they have so many ideas. They dont know where to start or which idea to implement first!
If you fall into this category, just pick one of your ideas (it doesnt need to be your best one!) and begin to mentally develop it further. Consider the first key steps you need to take to push your business idea forward. Remember that you dont have to have a 100 page business plan or a fully formed idea before you can start taking action! All you need is a little focus.
Would be entrepreneurs waiting for the perfect idea.
This is the equivalent of expecting to know how to swim once youve found the perfect swimming costume.
If you fall into this category, even if you do manage to find the perfect idea, ask yourself whether or not you are going to have the right skill base to get it off the ground. Many successful entrepreneurs have failed many times before their perfect idea came along. It is through being prepared to fall down and stand up again that you develop the tenacity required to succeed in business.
Stay Ahead of the Game.
Whatever your circumstances, whether you are in business already or looking to start a business, creating ideas and being innovative will help keep you on top of your game. The way we are doing business globally is changing at such a rapid rate that if you dont consistently innovate, you will soon be out of business.
Cultivate your Innovation skills.
All the entrepreneurs that I have met have been possibility thinkers. By this I mean they keep their minds open to new opportunities and new ways of thinking. The best way for you to cultivate this ability within yourself is to spend time around other creative thinkers. Challenge each other to innovate.
A Simple Idea Creating Exercise.
Two nights ago I had a brainstorming session with a couple of entrepreneurial friends over a meal. We did a little 5 minute exercise where each wrote down as many ideas as they could on how to create a million pounds within a year. The quality of the initial ideas was absolutely irrelevant. What was really valuable was what came afterwards, when each person read out their individual lists and we discussed how these particular ideas could work.
We had a lot of fun, a lot of laughs and generated a couple of really great business ideas (as well as plenty of ordinary ones!), purely by focusing our brains to answer a simple question.
So how many entrepreneurs does it take to change a light bulb?
Well Im not entirely sure on the answer to that one! But I do know how many ideas it takes to start a business
Copyright Damien Senn 2005. All rights reserved.