I always tell my entrepreneurship students to think about the profits later. If you develop a sustainable solution to a real business problem, the clients and money will come. E ntrepreneurship plays a significant role in the development of jobs and economic growth. However, there has been a lot of discussion and debate on what motivates entrepreneurs to start their own businesses. How do you know if you or someone else is an entrepreneur? Deeply embedded in the practice of entrepreneurship is passion. Many start-up executives have noted that having passion is one of the key drivers for entrepreneurial success. Passion drives some entrepreneurs to assume high levels of risk taking that many may see as being unconventional and even crazy. Entrepreneurs? problem or solution - traits such as extroversion and a tendency for risk-taking spring to mind. They see possibilities and opportunities when everyone else sees a problem. My mentor, Dr Gene Landrum, founder of Chuck E. Cheese and best-selling author, believes that entrepreneurs tend to be radicals on a mission to sate a deep-seated passion; an obsessive Promethean (intuitive-thinker) willing to sacrifice all for the redemption of a dream. He goes on to say that entrepreneurs tend to leap before they look. That is scary for security-driven traditionalists who tend to see the entrepreneur as some kind of sociopath lost on a misguided venture. My good friend Arel Moodie, Co-Founder of the Empact Summit and award winning entrepreneur (Black Enterprise Magazine), shared five crucial characteristics of what he believes makes entrepreneurs successful in leading thriving enterprises: First, let us discuss what entrepreneurship is. Entrepreneurs are people that create small businesses and start-up companies. Entrepreneurs tend to be characterized as being risk-takers, innovative thinkers, creative personalities and opportunistic. Successful entrepreneurs discover new solutions to problems, innovate on current products, take advantage of opportunities in the market and know how to sell their vision to investors and customers while also influencing their decisions – getting their buy-in and support. The entrepreneur’s ability to innovate comes from thinking creatively about a business What Inspires and Motivates Emad Rahim CEO MAGAZINE 22 ENTREPRENEURIAL MOTIVATION
2
Embed
What Inspires and Motivates Entrepreneurs by Emad Rahim
Entrepreneurship plays a significant role in the development of jobs and economic growth. However, there has been a lot of discussion and debate on what motivates entrepreneurs to start their own businesses. How do you know if you or someone else is an entrepreneur? Deeply embedded in the practice of entrepreneurship is passion. Many start-up executives have noted that having passion is one of the key drivers for entrepreneurial success. Passion drives some entrepreneurs to assume high levels of risk taking that many may see as being unconventional and even crazy.
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
I always tell my entrepreneurship students to think about the profits later. If you develop a sustainable solution to a real business problem, the clients and money will come.
Entrepreneurship plays a significant role in the development of jobs and economic growth. However, there
has been a lot of discussion and debate on what motivates entrepreneurs to start their own businesses. How do you know if you or someone else is an entrepreneur? Deeply embedded in the practice of entrepreneurship is passion. Many start-up executives have noted that having passion is one of the key drivers for entrepreneurial success. Passion drives some entrepreneurs to assume high levels of risk taking that many may see as being unconventional and even crazy.
Entrepreneurs?problem or solution - traits such as extroversion
and a tendency for risk-taking spring to mind.
They see possibilities and opportunities when
everyone else sees a problem.
My mentor, Dr Gene Landrum, founder
of Chuck E. Cheese and best-selling author,
believes that entrepreneurs tend to be radicals
on a mission to sate a deep-seated passion;
an obsessive Promethean (intuitive-thinker)
willing to sacrifice all for the redemption of a
dream. He goes on to say that entrepreneurs
tend to leap before they look. That is scary for
security-driven traditionalists who tend to see
the entrepreneur as some kind of sociopath lost
on a misguided venture.
My good friend Arel Moodie, Co-Founder
of the Empact Summit and award winning
entrepreneur (Black Enterprise Magazine),
shared five crucial characteristics of what he
believes makes entrepreneurs successful in
leading thriving enterprises:
First, let us discuss what entrepreneurship
is. Entrepreneurs are people that create
small businesses and start-up companies.
Entrepreneurs tend to be characterized as
being risk-takers, innovative thinkers, creative
personalities and opportunistic. Successful
entrepreneurs discover new solutions to
problems, innovate on current products, take
advantage of opportunities in the market
and know how to sell their vision to investors
and customers while also influencing their
decisions – getting their buy-in and support.
The entrepreneur’s ability to innovate comes
from thinking creatively about a business
What Inspires and Motivates
Emad Rahim
CEO MAGAZINE22
ENTREPRENEURIAL MOTIVATION
` In-depth understanding: Entrepreneurs are
curious beings. They want to know how it
works, how it is created, what is causing the
problem, what the solution is, how will it
make money, who the experts are, how many
lives it will change and how they can turn
this into a business? They want to be able
to have a full understanding of what makes
things tick.
` In-depth problem-solving: Entrepreneurs
are opportunistic. They see opportunity and
take advantage of it right away. They believe
in the idea that every problem has a solution.
I always tell my entrepreneurship students to
think about the profits later. If you develop
a sustainable solution to a real business
problem, the clients and money will come.
` In-depth decision-making: Entrepreneurs
want to make or influence the decision.
If you spent a significant amount of time
trying to understand how something works
(in-depth understanding) and researching
the cause of the problem and creating a
solution (in-depth problem-solving), then
you definitely want to be a part of the
decision-making process.
Biography
Ø Emad Rahim, D.M., PMP, University Dean of Business and Management is a PMI Certified Project Management Professional®. Dr Rahim has more than 10 years experience in business development, nonprofit administration, management consulting and project management. Connect with him on Twitter @DrEmadRahim.
` Humility, or ability to accept a helping hand;
` Honesty, or ability to admit failure and grow
from there;
` Decisiveness, or ability to make choices even if