Entrepreneurship vs Businessby John McIlhattan Online Entrepreneur and Co-founder of VanderMac Ma
Really what is the core reason people go into entrepreneurship vs business? Sure initially it’s to cover the essential needs like expenses (rent, mortgage, etc.) In the long term it’s about doing something profound, something that will not only change your life but will leave a legacy, something that you’ll be remembered for. Something that will make your grandkids proud. What I’m talking about is igniting that inner entrepreneur that’s inside you. Most entrepreneurs have a sleeping giant that wants to break out and say, “screw it, I’m not going to use my waking hours working for somebody else, building their dream, building their brand, leveraging me like a pawn I refuse to do that.”
Excuse my rant, let’s get down to the substance, the purpose that everybody talks about in business is to make a profit but that’s an illusion because that’s the outcome, that’s the end game. What actually occurs is you attract a customer, you groom the customer, you retain the customer and that generates revenue. You manage guide and train your people so you trust them to manage your business, you empower them, you treat them with dignity and respect and in return that’s the extent to which they treat your customers. When customers are cared for they want to come back, but when they have to fight with somebody they don’t want to come back, because there’s too many options these days.
There are so many threats these days to your business, one of the biggest being your competitors and if your competitors are better your customers than you are, better than you at caring for your customers they will attract your customers, and you won’t have any. In that case it won’t matter about your profits because you won’t have any sales to generate them.
A sleeping danger in the business world is the outsourcing situation where companies are no longer loyal to employees. If you have an employer that is not loyal to you how on earth can you expect you to be loyal to your employer.
Another downfall of the current business world is focus. If you don’t focus on the long term, anything you do in the short term isn’t going to matter. I’ll explain that further.
The difference among other things between sustainable business is the short versus the long term is the plan. If you plan for only for one week and your competitors plan is for a year you will be out-shined. If you have a 5 year plan and your competitors have a 500 year plan to stay in business you will be outperformed.
The business world these days is highly turbulent, more so than any other time in the past and if you don’t take the time to understand what’s going on you could very well see yourself out of the game entirely. It’s a game of focus, a game of attention and a game of knowledge, and most importantly it’s a game of application. If you go through a program or a training and you can’t use what’s being taught in your business tomorrow than you haven’t learned.
What do I need to know to be successful today
The first thing you have to understand at an essential level, at a hands on level within the global community is culture. people don’t understand the game, they don’t know how to operate or behave in the nations (or the industry) they’re going into.
Interact first, sell second, interact with each other as human beings so a trust can be built and a partnership; view every interaction as a long term possibly and a lifetime engagement. For you to master that your education and development must be intensely focused on business and profits and to do that it must be intensely focused on the game of business, of communication and the fundamentals of forging relationships. And equally important is asking yourself, how do i improve the quality of my life for myself and for my family and nothing else
At this stage of our economy everyone is racing to be in the game, like the wild west again. To be successful, number one you have to be able and communicate with people, you won’t get accurate information about what your customers need unless you’re able to communicate and forge a relationship with someone.
Another thing people have to understand is how to market to people in different markets and cultures
Entrepreneurship vs. Corporate Employees
Here I’ll examine the difference between these individuals. There exists two significant differences, the first being the degree to which they’ll accept authority over them and the degree to which they’re willing to take risks. The degree to which they have both of those traits are two very significant measures of success.
It’s about putting it all out of the line to chase your dream, being patient and not caring about what other people say, because you believe in it.
Another measure is the extent the individual is looking for security, and to the extent that that’s even possible today. The extent that they’re willing to take direction from others and be part of a machine. That’s the extent that they will probably fit into corporate life; corporate experience is much more controlling than a entrepreneurial experience, There’s much more control and formality and many are comfortable with that. They’re not comfortable with being in an unknown area, they don’t have enough confidence and self belief to really do it.
How to transition from corporate to entrepreneurship, take small risks everyday. Find something that your passionate about, something that makes your heart throb everyday and start it. Start small because every big idea started as something small.
Remember in corporate america you’re going to be spending 1/3 of 1/2 or half of your life there to make a living. If you’re not happy going to that environment everyday you shouldn’t be there. Life is too short and it can be very very painful to be in cooped up in a bird cage no matter how shiny it looks. Remember even if it’s gold it can still be painful to be in it.
At this point i’d like to challenge you that no matter where you go in your work, become as excellent as you can become. Corporate employers in particular really don’t care about your degree. They care about how you can make money for them.
Remember knowledge without application is useless. Master your material, take the time to understand it. Be able to use it, if you don’t understand ask questions, ask how can i make a difference in the world with this. Ask yourself how can i take this and put it in the world to make the world a better place.
Created on Dec 31st 1969 19:00. Viewed 0 times.