The greatest joy for me is the freedom of time. I get to do all kinds of things when other are at work, I schedule play time every month. The greatest challenge is getting more clients when things are slow. Yet the more you succeed the harder you work. You don’t have a job—you own a job. My best advice is to start a part time business that you can work on your own time, and learn to be a business-man. Network Marketing is one place where you can learn as you go with little risk.
I love the time,the freedom and the way I can create and use my own ideas. I love the challenges too. They make me more creative and more determined to succeed! Once I began my journey I’ve never looked back. Actually this is my 2nd business and I honestly hated the first one, though it was a lucrative one(construction).
The understanding of entrepreneurship owes a lot to the work of economist Joseph Schumpeter and the Austrian School of economics. In Schumpeter (1950), an entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation. Entrepreneurship forces “creative destruction” across markets and industries, simultaneously creating new products and business models others. In this way, creative destruction is largely responsible for the dynamism of industries and long-run economic growth. Despite Schumpeter’s early 20th-century contributions, the traditional microeconomic theory of economics has had little room for entrepreneurs in their theoretical frameworks (instead assuming that resources would find each other through a price system). (ref. The Economist Magazine, March 11, 2006, pp 67).
For Frank H. Knight (1967) and Peter Drucker (1970) entrepreneurship is about taking risk. The behavior of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea, spending much time as well as capital on an uncertain venture.
Still another view of entrepreneurship is that it is the process of discovering, evaluating, and exploiting opportunities, which go on to reify themselves in the form of new business ventures. In this model an entrepreneur could be defined as “someone who acts with ambition beyond that supportable by the resources currently under his control, in relentless pursuit of opportunity” (a definition common to entrepreneurship professors Howard Stevenson and Jeffry Timmons). Pinchot (1985) coined the term Intrapreneurship to describe entrepreneurial-like activities inside organizations and government. The concept is commonly referred to as Corporate Entrepreneurship.
Challenges for being entrepreneur are to develop following traits
* an enthusiastic vision, the driving force of an enterprise.
* vision supported by an interlocked collection of specific ideas not available to the marketplace.
* The overall blueprint to realize the vision is clear, however details may be incomplete, flexible, and evolving.
* Promoting the vision with enthusiastic passion.
*Ability to develop strategies to change the vision into reality.
* To take initiative to cause a vision to become a success.
* Prudent risks taking ability. They assess costs, market/customer needs and persuade others to join and help.
* To become a positive thinker and a decision maker.
My published articles further discuss these points. You may refer to them They are:
Introducing BIM4U
——–
BIM4U in Action
———
Ten commandments
Learning Process
As things go well – the freedom to live life on my terms. I’m not on a time clock – but I’m also the one who bottom line is responsible for things getting done or not.
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6 Responses to What are the biggest joys of being an entrepreneur, and what are the biggest challenges?
biggest joy– being your own boss and making all the decisions
biggest challenge– getting enough clients/customers to keep the company running
The greatest joy for me is the freedom of time. I get to do all kinds of things when other are at work, I schedule play time every month. The greatest challenge is getting more clients when things are slow. Yet the more you succeed the harder you work. You don’t have a job—you own a job. My best advice is to start a part time business that you can work on your own time, and learn to be a business-man. Network Marketing is one place where you can learn as you go with little risk.
Try this: enroll today and start learning
I love the time,the freedom and the way I can create and use my own ideas. I love the challenges too. They make me more creative and more determined to succeed! Once I began my journey I’ve never looked back. Actually this is my 2nd business and I honestly hated the first one, though it was a lucrative one(construction).
being your own boss,but making profit at first is always the hardest part
The understanding of entrepreneurship owes a lot to the work of economist Joseph Schumpeter and the Austrian School of economics. In Schumpeter (1950), an entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation. Entrepreneurship forces “creative destruction” across markets and industries, simultaneously creating new products and business models others. In this way, creative destruction is largely responsible for the dynamism of industries and long-run economic growth. Despite Schumpeter’s early 20th-century contributions, the traditional microeconomic theory of economics has had little room for entrepreneurs in their theoretical frameworks (instead assuming that resources would find each other through a price system). (ref. The Economist Magazine, March 11, 2006, pp 67).
For Frank H. Knight (1967) and Peter Drucker (1970) entrepreneurship is about taking risk. The behavior of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea, spending much time as well as capital on an uncertain venture.
Still another view of entrepreneurship is that it is the process of discovering, evaluating, and exploiting opportunities, which go on to reify themselves in the form of new business ventures. In this model an entrepreneur could be defined as “someone who acts with ambition beyond that supportable by the resources currently under his control, in relentless pursuit of opportunity” (a definition common to entrepreneurship professors Howard Stevenson and Jeffry Timmons). Pinchot (1985) coined the term Intrapreneurship to describe entrepreneurial-like activities inside organizations and government. The concept is commonly referred to as Corporate Entrepreneurship.
Challenges for being entrepreneur are to develop following traits
* an enthusiastic vision, the driving force of an enterprise.
* vision supported by an interlocked collection of specific ideas not available to the marketplace.
* The overall blueprint to realize the vision is clear, however details may be incomplete, flexible, and evolving.
* Promoting the vision with enthusiastic passion.
*Ability to develop strategies to change the vision into reality.
* To take initiative to cause a vision to become a success.
* Prudent risks taking ability. They assess costs, market/customer needs and persuade others to join and help.
* To become a positive thinker and a decision maker.
My published articles further discuss these points. You may refer to them They are:
Introducing BIM4U
——–
BIM4U in Action
———
Ten commandments
Learning Process
As things go well – the freedom to live life on my terms. I’m not on a time clock – but I’m also the one who bottom line is responsible for things getting done or not.