Friday, September 16, 2011
Planet Entrepreneur
Motivation of Entrepreneur
Sound familiar? Many business owners do very well and wouldn't want to be working for anybody other than their own business. But - owning a business is anything but a piece of cake. As a business intermediary (a certified specialist in the sale of privately owned businesses) I frequently encounter buyers caught up in the myth of a business ownership, who haven't taken a hard look at the realities. At our company, we say that to be successful, business owners need to score highly on the 3 'M's: money, management and motivation.
Most people see money as the major stumbling block to owning a business. Management is another significant factor in the success or failure of any business so be prepared to spend numerous hours in your business. The necessary commitment of time and money can't be done without a strong desire to make your business succeed.
The motivation of potential business owners is a key factor that must be assessed. This should centre on your own desire to own and operate a business - not someone else's. Without motivation, none of the sacrifices of being a business owner will feel like they are worth the trouble.
Most people see money as the major stumbling block to owning a business. Management is another significant factor in the success or failure of any business so be prepared to spend numerous hours in your business. The necessary commitment of time and money can't be done without a strong desire to make your business succeed.
The motivation of potential business owners is a key factor that must be assessed. This should centre on your own desire to own and operate a business - not someone else's. Without motivation, none of the sacrifices of being a business owner will feel like they are worth the trouble.
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