Are you an entrepreneur? - Part I

byOscarGT

112 followers

Updated 8 years ago

Are you an entrepreneur? - Part I

Intro

I was thinking about how typical businesses are built and operated.

There is a large list of things required for that: a product or service to offer, facilities for the business, employees, income/expenses/tax tracking, accounting, invoicing, complaints management, financing, marketing, customer tracking and management, and a long etc.

On the other hand, I compared that to what is required for an online business, like affiliate marketing in WA. At its core, I find that we need: time, work and some money.

On the first model you’d surely require thousands of dollars just to get the business started, plus thousands more per month to cover the operating expenses while you make enough income to cover the expenses.

On the second model, we just need expertise on a certain area or time and work to obtain the knowledge, build a website with the relevant content, and an internet domain.

That led me into thinking on WA as an entrepreneur project.

Granted, it is not like a startup in the pure sense because affiliate marketing already exists.

But, at the personal level, it is an entrepreneur project, where we have to evaluate pros and cons, risk vs. reward, success possibilities, etc., and start it from scratch.

So I thought about reviewing the traits of entrepreneurs.

That may help us review our strengths and areas of opportunity to improve.

I will describe 5 traits in this first post.

Part I

1.- You Take Action. Entrepreneurs go out and make things happen.

Weather you go out and find customers on the street, in your local business, creating a new post/article for your website or reply to your website visitors,

Planning is important, because it gives us direction and steps to follow. But let’s not spend most of the time planning or stay in that stage for too long, otherwise, we could be delaying the real progress of the project.

Something I liked very much about WA, is that each Certification level is designed to take action! Enough about words! Let's do actually something! That is something I really appreciate, since there is a lot of stuff out there that just is not enough.

2.- You're crafty. Ability to improvise, create, think in different ways.

Entrepreneurs find a way to make things happen with the resources they have available.

That requires creativity to innovate, generate new ways of solving problems, creating shortcuts that save work, time and money, while getting the work done.

One example of that is what is called process improvement, a specific methodology to re-write the steps of a certain task. Stop saying “we’ve always done it that way”, and find a better way to do it with les time and resources.

3. You're obsessed with cash flow. Show me the money! :)

What we’re trying to build here is a profitable business, not a charity association :)

Therefore, our mind should also be focused in how to attract customers that buy our products, get revenue, profit and liquidity.

Money flowing through your business is the blood that keeps the business alive.

Finding alternative/creative ways to finance your project and other income streams is paramount for the survival and thriving of your business.

Another dollar, another day in business.

4.- You get into hot water - You like to get into troubles … with a purpose in mind.

Entrepreneurs would rather take a step to do something, and then say sorry, instead of asking for permission and end up doing nothing; they move ahead to benefit from the opportunities they see, or to solve potential problems, even if not having the approval or the higher-ups.

Here in WA we have the great advantage of being the CEO of our own project. So there is no one to ask permission but yourself. But that’s where the problem is sometimes.

We’ve been so conditioned to “do what we are told” that we’ve lost or never developed the sense or our own direction. So that is something to work on in case of not having in place.

5.- You’re fearless.

Entrepreneurs see opportunities where others see risk.

They say yes to the project, then find out how to deliver.

They’re not afraid to think different from the others, to speak up and share their opinion, but in a good way, always.

Creating and living by their own standards, they will not compromise principles and beliefs for the comfort or approval of others.

Every enterprise or project has the possibility of failure and the potential to succeed. It is in the hands of the entrepreneur to weigh all factors in.

And if it fails, learn from that experience and try again with a different approach.

Maybe some of us have tried other types of business that failed.

The takeaway from that is, to learn from that, create a new way of doing business, reinvent ourselves (personal growth), get up and try again.

I expect my first website in WA to be of moderate success if any. It is part of my learning curve. But the next website, will be better.

And the more I keep trying, the better I’ll be at this.

Going through school took a lot of years. I’m sure I, and you, can spend a few months testing this business model.

Hope this helps and inspires anyone to keep moving forward.

Best Regards, wishes and success to everyone! :)

Oscar