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What makes a true entrepreneur?

December 15, 2011 By Connor Jackson

What is it that really makes an entrepreneur a true entrepreneur?

Because it seems that these days every one either claims to be an entrepreneur – or they want to be one!

All you need to do is look around the internet for views and opinions. On the David Lichtenstein blog for example, you might find reviews and advice to help you out. You can even find examples of the driving forces that impel people to become entrepreneurs on the web. So is it a question of circumstance or is it a matter of one’s true inner self or genetics in some way?

In other words, is it nature or nurture?

I’m afraid I’m going to stay right on the fence here and say that it’s a little of both. You can’t really break this down with an accurate percentage score as there are endless possibilities in the interplay between one’s genetic make-up and the circumstances that then affect your life.

Have a think about some of the world’s most entrepreneurial people from history for example. Could Henry Ford have built a business empire the way he did on the other side of the Atlantic in the former Soviet Union? I very much doubt it. So what were Roman Abramovich’s ancestors doing in Russia at that time – if they had the entrepreneurial gene their descendant seems to have had? Feeling a little frustrated one imagines. Or maybe they found other outlet for this drive.

The same goes for a modern day entrepreneur like Facebook founder Mark Zuckerberg.  Clearly, Mother Nature made Mark a clever lad and gave him the basis to work from. But it was circumstance that really gave him the drive to succeed and rove he was as “worth” as all these terribly worthy “worthies” he came across at Harvard – that’s if you believe there’s much truth in the movie “The Social Network” anyway.

The main driver, I think, is boredom. The true entrepreneur just gets frustrated by being asked to do things at the whim of others when he or she feels that’s a direction lacking imagination – so they prefer to make different choices under their own control.

 

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Leap of Faith

November 11, 2011 By Connor Jackson

When we get together with friends for a few drinks and a wind down at the end of a hard week’s work, a lot of us will spend a few minutes having a moan about the boss. Now quite often many of us will agree that ultimately said boss is a great person to work for, but every now and again they make an unpopular decision. Other people however, are suffering from exposure to a particularly nasty specimen, and really could do to take a leap of faith and get out.

Leaving a job in today’s financial climate is never an easy decision unless you have a secure move in place and think that the grass will be greener on the other side. Occasionally though, communication breaks down entirely and it becomes impossible to stay in an untenable position. If this is the case then use the office paper shredder wisely to get rid of all those doodles you made of the main man sporting devil horns and pack up your desk.

Those amongst us with an entrepreneurial nature will sometimes see this kind of situation as an opportunity to try something new in life or perhaps go travelling. For the less happy-go-lucky however it can be a devastating time, leaving a lasting impression on a person’s confidence or even residual hatred complete with visions of stuffing the boss himself through a confetti cut shredder rather than just a drawing of him.

Don’t let the devil win though! Pick yourself up, get your CV together and get out there. It is a cliché I know, but this really could be the best thing that ever happened to you. The next big adventure is just around the corner, and I guarantee – speaking from experience – that you will not regret removing yourself from that situation in the long run.

 

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Grants for entrepreneurs

November 9, 2011 By Connor Jackson

If you have an entrepreneurial streak but aren’t too keen to appear on Dragon’s Den, the array of business advice and grants or loans can all be a bit baffling.

But fear not, the good old UK government has set up a special organisation to help you – and to make things far clearer.

Business Link is the government’s online resource for businesses. In particular, it’s a great starting point for small businesses or for those people like you who are thinking they’d like to start one.

The website has all the essential information you may need and, crucially, it clarifies the kind of grants or other funding you may be eligible for to get the enterprise off the ground in the first place.

Finding the right grant source and the right size of grant for your enterprise will depend on its nature and the point you’re at in the business cycle.

For example, government support may be available for businesses to help them start up, or simply to grow and succeed by overcoming current financial challenges. There may even be help available to help you trade internationally. As a starting point, call the Business Link Helpline on 0845 600 9 006.

Alternatively, you can search online via Business Link’s Business Support Finder, which allows you to search for sources of help in establishing, growing and developing your business. Such support may include grants.

Business Link’s website also provides advice about government guaranteed-lending schemes which aim to provide government loan finance for working capital requirements. It’s definitely worth using the website as a first port of call to find out if your business is eligible.

Business Link may also be able to advise you on the availability of any suitable innovation, research and development grants and support networks and facilities for innovation and R&D. They also seek to provide specific assistance for inventors and provide guidance for the best ways of working with UK universities and colleges where this is appropriate.

This article was written by David, who enjoys blogging and offering financial advice. He will write about anything from the latest payday loan product to the best savings accounts on the market.

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Business success tips for entrepreneurs

October 31, 2011 By

The role of the entrepreneur becomes no easier with the passage of time. The wheel has been reinvented several hundred times over and finding new ways to go about business is a challenge that is conquered by only the most daring and insightful of entrepreneurs. Whilst the creativity of entrepreneurs should never be tempered, it is important to consider how Business Liability insurance can be utilised to protect new businesses from potential problems.

When seeking fresh opportunities, entrepreneurs should rely on their instincts to spy new avenues of trade. Standing out from the crowd is difficult for any firm, but entrepreneurs thrive on such a challenge. Increasing exposure in today’s market involves tricks of the trade that entrepreneurs must learn to master and to do this, they must be bold in their pursuit of commercial success. Unfortunately, aggressively seeking success can land many an entrepreneur in hot water, particularly of the legal variety.

Business liability insurance is essential for firms because, whilst entrepreneurs can elevate a company to new heights of success, they can also prove to be a liability. The margin between success and failure is remarkably slight and, unfortunately, entrepreneurs tend to cross the margin more often than not. Protecting the interests of a business is essential and, in order not to stifle the drive and creative flow of entrepreneurs, business liability insurance is sometimes the only safeguard from financial ruin.

Business liability insurance is available in various forms. Public liability, professional indemnity and employer’s liability insurance are the most common types of policy available for firms but cover exists in all forms. Public liability and product liability insurance are among the most common types of business liability insurance acquired by firms and entrepreneurs.

Public liability insurance is essential for protecting against claims made by members of the public (in the sense that compensation can be paid to claimants under the policy). Public liability claims usually involve illness, injury or damage to property. In respect of product liability insurance, claims are often made when customers suffer personal injury as a result of a design or manufacturing defect. In order to succeed in business, companies must be able to survive. In order to survive, the mistakes of entrepreneurs need to be balanced against their successes. While weighing these pros and cons, it is necessary for firms to ensure they are suitably insulated from risk.

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Are you asking me – would I become an entrepreneur?

March 20, 2011 By

5 reasons why to become an entrepreneur and 5 reasons not to.
The pull to be an entrepreneur is enormous. Sometimes the romance of where you could be can distract you from what you have to do. Here are just a few contrasting realities to consider before you launch yourself into the world entrepreneurship.
• I want to be independent – versus – I work 24 hours a day, even if I am not in the office my head is full of my business.
• I want my own business to make money – versus – I have no accessible funds they are all tied up in my business.
• I am deeply inspired to become an entrepreneur – versus – If it all goes wrong my business will be harder to sell than I think.
• I want to work towards a higher purpose to create something unique – versus – I am responsible for all aspects of my business. [Read more...]

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Never give up

March 17, 2011 By

Be prepared to take knockbacks in your stride. Every mistake you make be sure to learn from it.  Making a mistake does not necessarily mean that it’s time to throw in the towel.  You are underway in your market research and your first feasibility studies.  You are exploring your product/service and how your potential customers will respond.  Keep going and if your plan doesn’t look right then rectify it.  Entrepreneurship is a long haul journey and the learning curve is always steep.
Entrepreneurship starts with an attitude of mind – embrace competition
Entrepreneurship is not feeling defeated by someone who is doing what you want to do.  Be inspired by these entrepreneurs and use them to learn from.  After all they are doing what you want to be doing.  They have started their own business and are running their own business.
And now for the risk factor
Risk is a chance or possibility of loss or bad consequence. “Oxford Dictionary” [Read more...]

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Entrepreneurship-running your own business

January 16, 2011 By

To be an entrepreneur it’s a must to be able to persist, work hard, overcome challenges and build a strong reputation, do these and they will treat you well during your entrepreneurial mission.

One must when starting out is gaining experience in the field of work you wish to pursue, at the start it’s not all about making money and running your own business as learning is the first step to the key to success.

If work has never been an issue in your life getting around and getting a job is the first place to start before considering stepping outside into the world of business on your own, it might not be the most interesting of experiences but it will help you learn about how to run your own business and could prove invaluable to you in the future. A good way to look at this is paid research and by the time you ready to take on your own business, you should already have knowledge from previous work and jobs. Being knowledgeable in business is the first steps of running your own business. [Read more...]

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