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Self-Awareness for Entrepreneurs Is Critical.

Self-Awareness for Entrepreneurs Is Critical.
"""Many people have been chasing the same dream since Tim Ferriss published The Four Hour Work, in which he introduced the lifestyle business concept.

Isn't it pretty appealing? Start a business, automate it, hire a virtual assistant, and make money while sleeping or traveling around the world.

That is something that everyone desires. That is why many people have made it their mission to teach you how to do it. They make statements like:

""""Do these 20 things and you'll make six figures."""" """"Get this online course and you'll become wealthy quickly without putting in any effort!""""

""""""I travel the world and earn $100,000 per month in passive income. This is how I do it.""

However, being an entrepreneur is not easy.
Have you considered starting a business? Maybe you're tired of working 9 to 5, want more freedom, and to be your own boss?

All of these are valid reasons to start a business. But you require a little more.

According to one source, 96% of businesses fail within ten years. So I looked it up on Google. It does not appear to be supported by research. It was most likely claimed once and then copied by everyone else.

However, there is some truth to that statement. Entrepreneurship is a game of patience.

Do you want to start your own business? Or are you a business owner?

The latter you will do for the rest of your life. In the past, I've started businesses that failed. But I'm still a business owner. You see what I mean?

Entrepreneurship is something you are rather than something you do.
""What am I?"" is the question you should ask yourself.

This article is about entrepreneurship, but it can be applied to anything in life. Building a successful career or business both necessitate self-awareness.

Seneca writes in Letters From A Stoic:

""""You must consider whether your nature is better suited to practical activity or quiet study and reflection, and incline in the direction your natural faculty and disposition take you.""

""We often act for the wrong reasons: money, reputation, coolness, or external pressure.

However, in life, it is far better to follow your instincts. To do so, you must first understand your nature.

Then, build your life around who you are, not who you think you should be.

For example, I've always been a business owner. I've always had a side hustle since I was a kid. I used to rip CDs, print booklets, and sell them for half price. Not exactly legal, but I had no idea at the time. That's just who I am.

What is your name?
Pose a few questions to yourself.

Why do I want to start my own company?
Is it entrepreneurship that interests me, or is it the outcome (freedom, time, money) that interests me?
Do I want to learn the skills necessary for success? As an entrepreneur, you must have a basic understanding of everything that occurs in your business.
If you're thinking about starting a business, reach out to some local entrepreneurs. Inquire about what they do on a typical day.

Make your decision after careful consideration. Not after watching a video of an idiot pretending to live """"the"""" life. Or after perusing some inspirational quotes on Instagram.

That is not the definition of entrepreneurship. That's just a fantasy.

Starting a business is difficult. But it's far from impossible. And anyone who puts their mind to it has the ability to make it happen.

Simply take the time to consider who you are. Then, begin slowly. Don't make it too complicated. This simple strategy took me two business degrees to learn:

Is there a market for your product? If it does not exist, it is most likely because no one cares. In this world, nothing is new.
Create: Concentrate on a single product or service. You don't need anything complicated with 10,000 variations.
It should be sold. Yes, entrepreneurs are essentially self-employed salespeople.
That's all there is to it. If you want to introduce new products, always follow the same procedure. """
 

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"Self-Awareness for Entrepreneurs Is Critical." was written by Mark under the Finance category. It has been read 91 times and generated 0 comments. The article was created on and updated on 13 January 2023.
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