Be an Entrepreneur in the 21st Century

AI Journey, AI for Business, challenges of ai implementation

Are you ready to be an entrepreneur?

Entrepreneurship is all the rage in this 21st century. Even though a lot of definitions exist, the truth is that an entrepreneur is someone who develops a business, acquires the necessary resources to run it and operates for its success. Having that said, this sounds very vague, thus many people take the term entrepreneurship extremely lightly.

First of all, let’s talk about why entrepreneurship sounds so appealing. There are many reasons why people become entrepreneurs. A lot of them have the goal to change the world. This means striving to make the world a better place. Whether it is to improve the world’s technology, eliminate poverty, create a practical product, or build a brand.

Many people see entrepreneurship as a path to create a better world for everyone.

Entrepreneurs are people who do not want to be bossed around. These people feel restricted when they are within a corporative environment. They believing that they have a more effective way of doing things. Ultimately, they become attracted to entrepreneurship since they see it as a way to succeed on their own terms. Being the boss is more fulfilling than having one.

These are ambitious people. They love reaching difficult goals and milestones which would scare the average person away. There are no limits on how much an entrepreneur can achieve. They can always strive to achieve higher levels of success, and when obstacles are presented in front of them, they find a way or create on. Successful entrepreneurs are unstoppable.

Enough with all of the positive sides we all want to hear about entrepreneurship. It is necessary to state that choosing this path in life has quite a lot of drawbacks in itself. Even though entrepreneurship sounds like a very impressive word, filled with optimism and a vision that is filled with a lot of joy and luxury, successful entrepreneurs will tell you that it is nothing like that. Newer generations see the entrepreneurship as their path to achieving financial freedom and success. It is something seen with strong enthusiasm, a lot of hope and energy. But there are a lot of small details that these people do not see.

Successful entrepreneurs are people that have taken a very hard career. These are smart and hard-working folks, which were ready to put everything on the line just to achieve their dream for the better future.

This means that the path of entrepreneurship is very risky. It is a path that many people are not willing to take, and at the same time it is a path that many people take, yet they do not succeed in it. What does this mean? For an entrepreneur to realize his idea successfully a lot of things have to be put on the edge. This includes money which belongs to the entrepreneur or business investors, time and effort by both the leaders and the employees of the business that the entrepreneur dreams of successfully running.

It won't be easy but it might be rewarding

Entrepreneurship is a 24-hour job. People don’t quite understand this, thinking that entrepreneurship is an easy career. It is not working at your leisure time, tinkering with something you’re passionate about. It is building a complex business, with tedious hours and a lot more time spent than your typical 9 to 5 job. Successful entrepreneurs know that they’re their own bosses. They have to grind and compete on the market, while also having to promote their brand to the world.

There have been a lot of examples of failing entrepreneurs, and these cases can be easily traced to a couple of recurring reasons. Some of them are:

    • Not understand the situation – Entrepreneurs understand their idea and innovation but do not understand the sheer complexity of the market. If an entrepreneur is not capable of seeing the details in the market, he will be completely blind to
    • Not finding enough funding – Entrepreneurship often fails due to the reason that these people cannot raise the right kind of funding at the right time. Whether the money comes from investors, friends or family, it needs to be properly managed and organized.
    • Big expectations – even though it’s great to believe in miracles, it is definitely not a way to start. Entrepreneurs often fail because they believe that they will change the world, revolutionize an industry and become extremely wealthy. Sadly, the reality is cruel.
    • Not enough consistency – entrepreneurs often fail because they give up too early on their journey. Good entrepreneurs have a sense of when to give up on their business, and when to continue grinding. Making sacrifices is necessary for everyone who’s trying to be a successful entrepreneur. You will not see the results until you put the necessary time, money and effort.

So, what now?

Having all of this said, it is completely true that entrepreneurs have been the ones who have successfully changed the world. They are the people that have innovated the most practical products we all use every day. They are the ones that have solved the toughest problems. However, it is necessary to understand the qualities and sacrifices required to be successful.

Lee Blackstone is a Speaker, an Author and a Founder of Principal Program & Blackstone & Cullen. They have assembled a team of “A Players” who have the same passion and drive for ensuring client success by providing elegant solutions to hideously complicated problems.

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