We All Start SOMEWHERE

A Census Bureau data in America show that most of the net employment gains in the United States between

1980 and 2005 come from firms younger than five years old. Without startups, the average annual net employment growth rate would actually have been negative. Economist Carl Schramm posited that for the United States to survive and continue its economic leadership in the world, it must see entrepreneurship as its central comparative advantage. Nothing else can give it the necessary advantage other than entrepreneurship. Equally, the problem of continuous raise in unemployment figure across the world would only be reduced by efforts of entrepreneurs.

The success of the business will not be measured by the dollar return per hour of work or by dollar return on amount of investment. Rather it will be measure the by entrepreneur’s ability to be able to solve a larger problem by creating overall satisfaction for the owners, the community, government, customers, suppliers, competitors, creditors, employees and other stakeholders.

There are many factors that serve as internal motivator for individual who go into business. Nevertheless, some are just born entrepreneur. I mean, they are just serial entrepreneurs. They will never be satisfied working for others; something will keep propelling them until they are able to solve problem(s) that will not only create satisfaction for customers but one which customers would gladly pay for. There are others, who will just build up their business slowly and prudently, they take all the measure in the books and all those they can pick from trained consultants and other sources. There are even other groups; those whose entrepreneurial energy can only be awoken when their company liquidates or they are fired and find themselves out of job. The wiser ones get into part time businesses at the slightest detection of daily increase in the uncertainty surrounding. Moving closer to the retirement age is the impetus for others. The final group includes those fresh graduates who had realized that it difficult to get job because of the scarcity of vacancies for people without some level of working experience or right connections.

It must be stated that self-confidence does not mean perfection, we all make mistake, those who did not ever make mistake had probably did not make anything. An entrepreneur should clearly understand the concept of failure and failing both in life and as in business. Forget that view that state that success is everything and everything has to produce a success. In reality, most successes came from a succession of failure from which the individual learn more about the activity. Edison was reported to have said that he did not fail ten thousand times when inventing the bulb; he just found ten thousand ways that did not work. Imagine if he had quitted at 9999 attempt probably we would all still be using candles or lantern. On the other hand, the most painful thing is that the 1000^th attempt might lead to another person’s success; all that credit goes to him

Startup businesses usually succeed as much as they fail. This is a common fact that is known to many consultants, trainer, and entrepreneurs. Some statistics even suggest that the failure rate for new startups within the first five years is as high as 50 percent. No wonder some entrepreneurs know and advise that business failure should be handle as a milestone on the road to success. Here is where the issue of learning from one previous mistake is use as an experience that will be used to manage their next idea in a profitable and sustainable business.

Conclusively, are you passionate enough about you idea, passion play a large part in the success of any business. Without passion or with less than enough passion, you will surely find it difficult to work continuously for ten-fourteen-hour a day without any possibility of vacation or leave plus a lot of stress, tension, employee problems or demands, misplaced cash, bank loan turndown as well as frustrations from all angles.

Entrepreneur is a problem solver, so you will have to look into your community, where you live or some other place, considered the problems they are encountering there and see if you could solve the problem, if you think you could then you are an entrepreneur who had just discover a new business idea.