Why did you Become an Entrepreneur?

"The entrepreneur always searches for change, responds to it, and exploits it as an opportunity." ~ Peter Drucker

The year of COVID brought many changes to all levels of society. If you are a business owner, the radical shifts in the marketplace undoubtedly impacted your business and probably caused you to wonder about the future. If you lost your job last year, you might be thinking about becoming an entrepreneur.

According to Entrepreneur.com, becoming an entrepreneur is the dream of more than a third of the American people. A vision of freedom and social success, where one can be both independent of time and money.

Additionally, the website reports that "in the US, around 550,000 people become entrepreneurs every month." These numbers are large, but they are not surprising.

 In 2019 more people decided to become entrepreneurs and start their own businesses than ever before. And this happened not only in America but all over the world. It is also expected that by the end of 2021, more than 42% of the US workforce will be self-employed.

The truth is, it has never been easier to start a new venture. Business success principles are decoded, openly shared, and universally applicable – and not just for startups. The availability of information, combined with the radical changes that occurred in 2020, creates many opportunities to step into the world of entrepreneurship.  In the pandemic era, where innovation, upgraded technology solutions, and visionary leadership are critical for the economy, entrepreneurial leaders have never been more needed.

What does it mean to be an Entrepreneur?

Entrepreneur.com describes entrepreneurs as those "who succeed by adeptly navigating unpredictability and productively channeling disruption into opportunity."

Think of Amazon, Apple, Airbnb, Facebook, or Trivago. Behind all these successful companies are exceptional personalities and entrepreneurial leaders. People who dream of their projects based on solving a problem or proposing an improvement to a visible issue. They can look at the future, learn quickly, innovate, persuade, grow, and discover opportunities during a crisis.

Entrepreneurs also have an innate ability to surround themselves with the 'right' people to carry out their plans. They are visionaries who dedicate their time and passion to see their efforts materialized. Emotional stability is just as crucial to the company's success as continuously innovating and motivating.

It is no surprise that all promising founders of some of the biggest companies in the world have certain qualities in common: they are open to new experiences, they take risks, they work in a disciplined manner, and they are characterized by a high degree of self-efficacy.

According to Business Insider, the most common reasons that a person has to become an entrepreneur are:

1. They seek independence
2. They want to have financial control
3. They need more freedom of time
4. They do not want to rely on a boss or work for someone else
5. They do like being tied to a company
6. They are unhappy with the ordinary work office life and schedule

Why did You become an Entrepreneur?

If you are an entrepreneur, why did you begin your business? What were your goals, and do they still hold for 2021? If the answer is no, you may consider selling your business, which is a different conversation.

Remember, the world needs you, whether you own a business or you're thinking of starting one. Innovation, creativity, and resilience are vital ingredients to making 2021 a year to celebrate.

Your company is the product. Growth to Exit® is the process. The Buyer is your customer.

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