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Friday, March 20, 2015

Entrepreneurship Requires the Eyes and Ears of a Wolf

Entrepreneurship is a popular occupational choice for Generation X and Y who desire more freedom to determine their own fate. When conversing with young people you will hear their stories of how they would like to someday be a business owner, work in an industry they have a passion for and keep their freedom. If you want to be an entrepreneur than having the eyes and ears of a wolf will help you discover opportunities.
Opportunities abound but seeing potential opportunities can be a more difficult process. It takes considerable experience to see and understand where price differences occur and how to capitalize on these differences. Sometimes these opportunities are easy to discern while at other times considerable research must be conducted before it can be realized
Consider the years and efforts it takes to successfully run a small business. Most businesses fail within the first five years as wishful thinking meets market realities. As entrepreneurs stick with their efforts they begin to learn the differences between success and failure. Learning can lead to big successes in the future if practically applied.
If you read books on entrepreneurship you will find that the process is failure is very similar for each person. They tried and failed a number of times before becoming successful. At the end of this long battle with themselves and the market they eventually figured out what works. It takes time to forge an approach through trial and error.
Being an entrepreneurial wolf requires the ability to see opportunities and find ways to turn those opportunities into realized profit. Keeping your eyes and ears open throughout your daily activities will help you realize how things work. Sometimes the best businesses are built off of simple ideas and concepts. Perceiving a single profitable action can lead to the repeating of that action.

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