Wednesday, February 25, 2009

Life of an Entrepreneur

The economy has been changing. Many companies are either running out of business or filing bankruptcy. Some companies are even merging together in order to continue to stay in business and salvage their resources. On top of that, many people are looking for work. Recent college graduates lack connections and experience. Blue collared people are lazy and unmotivated, and often have less than adequate work performance in their jobs. It is no wonder that many companies who are still surviving are outsourcing to foreign countries or ethnic on quotas to seek hard working people who are desperate for work because their countries don't have much opportunities. But don't despair. There is still hope. For people who still want to work but are just not finding the opportunities, there is still one option left: being an entrepreneur.
Being an entrepreneur is not as hard as people make it out to be. It just requires a lot of hard work. Entrepreneurs don't need an MBA, as some might say or expect. All they need is strong skills in sales and public relations as well as a strong passion for their product, service and/or company. After deciding on the company's product or service, the entrepreneur must do a lot of planning and research in order to better market and position his/her company among its competitors. The entrepreneur should also meet other people in person in order to better sell the product or service by giving out samples, doing demonstrations, and telling success stories that the public can relate to. It is all about knowing oneself as well as the company, product, service, its competitors, business economy and the business situation. Being prepared for the worst and hoping for the best requires the entrepreneur to have a vision of what he/she wants, know the requirements to make his/her vision happen, and work hard to achieve goals. After much research and analysis, the entrepreneur can come up with an effective marketing plan to start his/her business. Furthermore, the entrepreneur should always continue to learn and grow by continually creating innovative ideas that will help the company to continually grow.