Being an entrepreneur is part of “the American Dream.” Indeed, it is estimated that there are more than 27 million working-age adult entrepreneurs in America who start and run new businesses. That is nearly 14 percent of adults. And an increasing number of Americans report that being an entrepreneur is an attractive career choice.
At the same time, entrepreneurship comes with risks and challenges. The Bureau of Labor has reported that 20 percent of entrepreneurs fail by the end of the first year and 50 percent fail by the end of the fifth year. While that is a reason for a brief thoughtful pause, it shouldn’t prevent eager entrepreneurs from pursuing their dreams. After all, know that Edison failed many times before the incandescent electric light bulb became perfected.
What Defines Success for Entrepreneurs?
Success for entrepreneurs can be defined in many ways. For many, it is about having enough money plus more flexibility and time to use it. And for many, it is about creating something and seeing something accomplished with your own hands. For others, it may be simply having a vision and then reaching milestones and goals to achieve that vision. It can be the drive to innovate. For some, it is the idea of making a difference for others.
Motivational Tips for Entrepreneurs
Motivation for entrepreneurs goes well beyond rah-rah encouragement. Rather, motivation is a recipe for success including:
Find something that you can be deeply passionate about and then tackle it.
Surround yourself with people who share your vision and who eagerly embrace action.
Get more organized to be more productive.
Ask good questions, even hard questions, and strive to learn something new every day.
Get and stay connected with people that matter to you.
Leverage the power of rejection and never feel sorry for yourself.
Keep on working. Keep on trying, and practice patience.
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