Are you Really an Entrepreneur?

Read this article recently and thought it makes some very correct points. Does it describe you...or not??

Are You Really an Entrepreneur?
By BERNARD LUNN
May 7, 2009

Google the phrase "Are you an entrepreneur?" and you'll get a lot of help thinking through what should be the first question you ask before starting a new venture. Because entrepreneurs are a busy bunch, we've compiled a top 10 list right here.

1. You're always looking for opportunities. This is almost the definition of an entrepreneur. Every pain point is an opportunity.
2. Are you prepared to work long hours, every day, for an indefinite period of time? Ahem, let's dispel illusions. Put down "The 4-Hour Workweek"; it is a myth that the author spun to sell books (so that he could work 4 hours a week).
3. Good Health. You cannot answer "Yes" to item #2 unless you are blessed with good health and the discipline to maintain it in tough times.
4. Do you have a unique service or product? Most entrepreneurs have a pocketful of ideas, many of them viable. But they suffer from the "kid in a candy store" dilemma, not knowing which to choose. The trick is choosing the one that really is a winner and having the discipline (see item #9) to ignore all the others.
5. Are you willing to make short-term sacrifices for long-term success? There will be long periods of time when everyone around you questions your sanity, and on all normal metrics (hours worked and stress endured vs. material rewards gained), they would be right.
6. Honesty and integrity. You often have to be able to work with people without the protection of legal contracts. It is the essence of moving fast, and you often simply won't be able to afford a lawyer. So, you have to work with people who have honesty and integrity. It is hard to do that unless you have honesty and integrity yourself.
7. You're dreaming miles ahead while focused on what you're doing right now. The entrepreneur is an odd mix: part dreamer, part brutal realist and pragmatist. You should focus first on today and, secondly, on the big picture, and ignore the rest. Today is about the immediate stuff that you have to get done to stay in business, to deliver projects to clients, to collect cash, and so on. The big picture is about looking at what the world might look like 10 years from now and then building towards that. We cannot know what will happen next week, month, or year. The medium term is totally unknown. However, many long-term trends are fairly clear, even though the timetable is unknown.
8. Are you self-confident? You will almost certainly be going against odds that would make most people run away.
9. Discipline. This relates to many of the other traits mentioned in this checklist. You will need discipline to maintain your health (item #2), so that you can work hard (item #3), so that you can focus on the one product or service you have chosen and ignore all temptations (item #4).
10. You're prepared to say, "I don't know, but I'll figure it out." Entrepreneurs have to be generalists. They may know one thing very, very well. But they also have to know enough about almost everything else to occasionally do those things themselves, and have the judgment to eventually hire the right people to do those things.

Copyright 2009 ReadWriteWeb. All Rights Reserved.

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Permalink Reply by Mr. Bob Black on June 23, 2009 at 7:27pm

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Permalink Reply by Debasis on July 25, 2009 at 5:05pm

I found an interesting article while browsing. I thought it would be interesting to some of you. See the attachment.

Attachments:

What_makes_entrepreneurs_entrepreneurial.pdf, 2.3 MB

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Permalink Reply by Carol Ann Dykes on July 26, 2009 at 10:59am

Fascinating article! I see a lot of truth in the effectual vs casual reasoning case. I will be pondering this for a while and viewing watching the entrepreneurs I work with from a different perspective. Thanks for sharing.

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Permalink Reply by Tom Burke on August 29, 2009 at 11:21pm

Hi Carol Ann Dykes :)

In the question you ask: Are you Really an Entrepreneur?

Pre 9/11/01, several companies I started were moving towards
a national launch. Admist all the struggles, passion, rewards,
unforgettable moments brainstorming with our team, creating
and building our dream ... I thought for sure, I was an Entrepreneur.

It was on May 5, 2001, a long-time friend and fellow CEO sent me an email.
Mike is his name, we were co-collaboraters to accomplish great things.

Mike said ... this poem was me.

... after reading the email ... with many pauses -- to wipe my eyes, feeling the
full meaning -- in joy and respect. I knew the answer to the question you asked now.

If I may share it with you and others. Mike's email to me was titled:

"The Entrepreneur's Prayer"

As I awaken with the gift of yet another day and prepare
for the tasks at hand, I offer up this most ardent prayer:

I pray for continued clarity of purpose so that I may hold
my vision steady and keep my focus on the needs and success
of others, which in turn shall bring me my success.

I pray for the wisdom to expect abundance in my life, that
it surrounds me and is available for the taking and to be
shameless and unapologetic upon its receipt, for I deserve
abundance.

I pray for a cheerful countenance, be it clear or cloudy
skies and that I may radiate and infect others with my
positive attitude.

I pray for the trust of others that they may recognize my
sincerity and true intentions so that we may move forward
together.

I pray for the strength to fend off adversity and use my
desire and determination as both weapon and shield.

I pray for the courage to carry forth my convictions during
the battle of business and to resist temptation to a
quicker monetary result when such temptation compromises
these things for which I stand.

I pray that I may be used as a lightning rod to collect the
amazing ideas already present in the universe and when
blessed with such inspiration that I may be able to apply
my talents and abilities to turn the power of thought into
measurable advancement of my goals.

I pray to retain my childhood wonder so that I can
recognize and revel in the small miracles of each day that
others may miss.

I pray for an infinite supply of self-confidence for it
alone fortifies faith, strengthens my resolve and conquers
the largest enemy I will ever face - fear.

I pray for a compassionate spirit and the patience to offer
those who seek my advice and my help, my full and undivided
attention.

I pray for good health and a feeling of well being, and the
continued desire to improve those areas of my physical life
I may be neglecting in the name of my spiritual and
entrepreneurial advancement.

I pray that today is a day of excellence and at its
conclusion I can acknowledge and be grateful for the
forward motion I have made and the growth I have
experienced.

I pray most of all for the understanding and support of
those closest to my heart, my family, that they will equate
what may seem like endless hours of apparent preoccupation
with affairs of business to what is at the very core of my
being, that which drives me, for once I achieve what I
have set out in its fullest, I will become that more
complete being I strive to be.

It is for these things that I pray, for I am an entrepreneur.

Since receiving that email Carol, I have kept that prayer close, and read it many times. It always
evokes the same response from me. Yes, I am an Entrepreneur. Thanks for your question Carol :)

Maybe after reading it, it may help others who are asking: Am I Really an Entrepreneur?
I do not know who the author is ... but they indeed in my opinion, captured the essence,
heart, and spirit of the 'entrepreneur'.

See you at the top! Let's do something great together!

Because we can.

Tom Burke
President / CEO / CTO
ISSI - IVA - V

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Permalink Reply by Carol Ann Dykes on August 30, 2009 at 9:12am

Tom - I can understand why that poem brought tears. I will be sharing it with CEOs of many of my client companies and other entrepreneurs I know. But is it not a prayer that each of us should read every day no matter what our profession? The values and character described are ones I hope I focus on every day no matter where I work or what I do. Thank you for sharing.

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Permalink Reply by Tom Burke on August 30, 2009 at 2:55pm

Thanks Carol for your post :)

You are right, I look at that email once in a great while.

Sugar for the soul :)

Hard work, smart work. Plan your work, work your plan.

Otherwise, one focus - get there!

Tom