How Do I Know the Business I Can Do Successfully?

Before you start up a business, there are certain questions you must consider. 
Answering these questions will inform your decision on the business that you 
can do successfully. These questions come in the form of Why? What? How?

Why do you want to start a business?

There are many reasons why people start up a business. The most basic and
end reason for business owners is to make money. The question is now why 
do you want to make money? For most entrepreneurs, they want to effect
change. 

Answering this question will help know if you want to be a business owner or
an entrepreneur. If your main purpose is to make money then you would want 
to be a business owner. If you want to create change, create businesses then
you would be an entrepreneur. 

With this decision made, you now know on which side of business 
you belong and you will tailor other decisions to align with this. You will also
know what it will take to do the kind you choose.

What are you passionate about?

Passion is a great motivator when it comes to business. Richard Branson said
that entrepreneurship is about turning what excites you in life into capital, so 
that you can do more of it and move forward with it. Passion is what keeps you
going. It motivates you to apply your strengths towards achieving your aim.
When deciding on a business to start, consider how you can use your
strengths, skills together with your passions at best. 

Any business that gives you the platform to utilize these is most likely the one
you will succeed at. This is because you passion for it will inspire you to give it
your all.

Considering your strengths and interests will give you an idea of what to do
exactly. It will provide you with the field of business and the area of business
as well. If you want to be entrepreneurial, It will guide you on how to best use
them to create a business that you will nurture and enjoy.
 

Additionally, you have to be passionate about success itself. If you are, then 
nothing can keep you from being successful as your major aim is now 
centered on achieving success in your endeavors.

When you combine your passion for success and for any field or area of
business, your skills, you will discover that you will most likely succeed in that 
business than when you choose to do any business that you have no interest 
in.

How do you propose to start the business?

This question encompasses a lot of other questions like:

Do you have what it takes to start a business that will fulfill my reason for
starting?. In answering this question, consider your financial resources,
your team, your network. Are they adequate enough to run a business 
successfully? 
What scale of business will you start? When deciding on the
business to do,you should have a goal in mind as to the size of the business
you want to do. 

This helps you determine where you are going and how you will get there. 
You have to know if you want the business to be small scale, large scale or 
medium scale. It also helps you to decide on your target market and location.
All business must start small but making the decision on the the scale will give 
you more insight on the type of business to start and how to start it. Also,
having this fact in mind always will help you to know when you have made
progress and when you have achieved success.

Considering your start up point carefully will go a long way to determining
how far you will go. This is because the majority of risks, obstacles and
challenges are faced here. When you overcome these, then you are on your 
way to success.

Having answered all these questions, you will be able to significantly narrow 
down to a business or businesses you can do successful when you apply 
yourself in doing all it takes to achieve good success.

How Do I Know if I Would Be a Successful Entrepreneur?

“Entrepreneurship is about turning what excites you in life into capital, so that
you can do more of it and move forward with it.” - Richard Branson

Before I start on this, I believe we should understand what entrepreneurship 
is really all about. In the above quote, Richard Branson touched every 
important aspect of entrepreneurship. A deeper understanding of this
statement will reveal to you the most important aspects of entrepreneurship 
and how they can motivate success.

Passion

First, entrepreneurship is about passion. You have to be passionate about
what you are doing so that you will keep pushing until you achieve your aim.
Passion comes with enthusiasm. It follows your natural strengths and interests,
and has the tendency to evolve as your strengths and interests evolve. True
passion motivates and energizes you in ways you may have never imagined.
So, one of the determinants of the success of an entrepreneurial journey is the 
level of passion you have for success itself and for business. Passion
determines your degree of motivation, your level of commitment, your
confidence in your vision, your persuasion skills, if you will persevere in the face
of obstacles and how well you can lead people in your venture.

“When you believe in something the force of your convictions will spark other
people’s interest and motivate them to help you achieve your goals.”

If your passion for success and for business is very high, then you rate of
success is high.

Growth

The success of an entrepreneurial venture is dependent on growth. In fact, an 

entrepreneur is driven by growth. They aspire to take their companies to the 
next level. Their plan centers on providing a product or service that fills a void,
capitalizing on the opportunity to enter new markets, open new locations and
introduce new products. An entrepreneur is also driven to grow. He invests in 
personal development. As an entrepreneur or an aspiring entrepreneur, are 
you willing to grow? Are you willing to develop yourself and all that is needed
for the success of your venture?

Your willingness and the action you take towards your growth and 
development has a great deal to say about your being a successful 
entrepreneur.

Factors

Factors like risks, obstacles, challenges,failure and rejection are inevitable in
every venture. Your attitude towards these factors determines the direction
and altitude of your venture. When faced with a risky decision, how do you 
deal with it? Do you have the courage to take the risk come what may? Do
you thrive in risks? What about obstacles and challenges, how do you deal
with them? Every entrepreneur must encounter these from various sources
and the joy of a true entrepreneur is to face and surmount them all. In fact, 
every obstacle and challenge an overcomes become a success story. What
of failure and rejection,how do you deal with them? Do you learn from them?
If you really want to be a successful entrepreneur, then you have to learn to 
see these factors as stepping stones and also learn how to maximize them
for the good of your business.

Team

This is a very important part of every business that determines the success of 
the business. An entrepreneur knows the importance of a great team. Your
team determines how far and how fast your ideas develops and grows into a 
profitable venture.If you have a team that understands and shares your 
motivation of your endeavors, then you all must succeed with the right about
of smart hard work.

To know if you will be a successful entrepreneur, you have to ask yourself, Do I

have a great team that shares my passion for the success?

Answering all the questions asked here will help you to know if you will be a 

successful entrepreneur. However, there is no exact means of answering this

question. Everything depends on you and your attitude towards success.

Am I a Business Owner or an Entrepreneur?

This article is to help you determine whether you are or would like to be a business 
owner or entrepreneur. Knowing where you are and where you want to be will put
you in a better position to develop and discipline yourself accordingly.

A business owner and an entrepreneur seek to provide value and fill human need
but their differences lie in why, how and what they are doing to fulfill these needs.

For example, if there is a need for drinking water in a given area, one person can 
decide to bring in already made sachet water to sell while another can find a more
innovative way to make  water in that area drinkable. Both are solving the human 
need. Notice, the way they solved the problem becomes the difference.

The person that used the opportunity to bring in water to sell is a business owner 
while the that used a means to make the water in the area drinkable could be said
to have an entrepreneurial mindset.

WHAT?

Based on the above instance, a business owner can be seen as someone that
provides immediate solution to a problem by way of setting up a system that solves 
the problem and makes profit at the same time. He depends on other people’s ideas 
and products.

An entrepreneur thinks of an innovative way to proffer solution to a problem and goes
ahead to bring that idea into reality. Most times these solutions are lasting. He works
on his own original idea and always seeks to pursue new ideas.

HOW?

A business owner mostly runs a business by producing, buying and selling products
goods and services) with the aim of making profit. They prefer to use conventional
ways of doing things. Whereas an entrepreneur creates the business opportunities 
from original ideas with the aim of turning the idea into a viable and scalable invention. 
Entrepreneurs envision better ways of doing things and proceeds to making that way
feasible. They embed creativity and innovation in their designs, strategies and 
decisions.

WHY?

A business owner is focused on the growth of his business through customer 
satisfaction, retention, increase and through growth of profit margin.

An entrepreneur on the other hand is focused on the success of the business in the
long run and he seeks to employ sustainable means to ensure this.

Business owners are mostly into business for the purpose of making profit, meeting 
their financial goals and ensuring customer satisfaction.

Entrepreneurs create businesses to make a difference in the world. They mostly
pursue their passion and are focused on what they can offer the world.

Now that you have seen the differences between a business owner and an
entrepreneur based on:

• why they are engaged in business,
• how they engage in business and
• what they do in business,

ask yourself the same questions and see if your answers are closely related to 
business owner or entrepreneur.

However, you must know that one can be a business owner without being an 
entrepreneur but cannot be an entrepreneur without owning a business. The outcome
of an entrepreneurial journey as seen in the lives of many great entrepreneurs is a 
business. In fact, entrepreneurship can be seen as business creation.

Take a look at Bill Gates, the founder of Microsoft. His idea(s) has given rise to many
business opportunities that many people are tapping into today. The windows 
operating system most of us are enjoying is as a result of his entrepreneurial journey. 
Most manufacturers of laptops and desktops use his products in their systems. These
systems in turn are being sold by different laptop vendors.This is a typical example of
how the outcome of entrepreneurship is business creation.

Another common example is Mark Zuckerberg, founder of Facebook. His idea of 
Facebook has created numerous opportunities for many people all over the world. 
His idea has created business opportunities and also platforms to run businesses.
With his platform, business owners can now reach large amount of target audience.
In fact, his creation has opened up various opportunities that has never existed before.

Conclusively, depending on your purpose for delving into business, get clarity on your
journey and pursue your dreams knowing that either way you are touching human lives.

What Entrepreneurship is all about.

Most of us do not really understand the concept of entrepreneurship and all it
is about. 
So, this article is going to be explaining this concept based on the
perspectives and experiences of the greatest entrepreneurs we know.

“Entrepreneurship is about turning what excites you in life into capital, so that
you can do more of it and move forward with it.” - Richard Branson

When you discover what excites you and what you are passionate about. You
could find a way to turn it into a viable business. As you continue to build and 
grow your business creatively, that makes you an entrepreneur.

“Entrepreneurship is about creating change, not creating companies”
 - Mark Zuckerberg
So, when building and growing your business, you have to focus on the 
change your business will bring.This makes it easier for you to be creative
and innovative.

Entrepreneurship is having an idea to do something great and not entirely
have a plan on how to do it but the drive and will power to make it. 
- Michael Bloomberg

Mr.Bloomberg tells us that being an entrepreneur does not mean that you will
have it all figured it but you have to have the determination and will power to
see the idea to fruition.

Entrepreneurship is the ability to create and build from a vision practically 
anything; fundamentally it is a human, creative act. - Jeffrey A. Timmons

So, a vision has to be present to build from. When you have a vision, the
tools of entrepreneurship can be employed to make it a reality.

Entrepreneurship is the art of finding profitable solutions to problems.
- Brian Tracy

The WHO of entrepreneurship

Entrepreneurs bring new ideas to life through innovation, creativity and 
the desire to build something of lasting value. - Dirk Meyer

Entrepreneur is someone who has a vision for something and a want to
create." - David Karp

The How of entrepreneurship

Roy Ash: “An entrepreneur tends to bite off a little more than he can chew 

hoping he’ll quickly learn how to chew it.”

This is why learning is an important part of entrepreneurship because as an
entrepreneur you should always be ready to make innovative decisions 
and be on top of your game. Additionally, there can never be an “I can’t” in the 
dictionary of an entrepreneur. He should always be willing to learn to tackle
any issue or delegate to those who can.