Entrepreneur Magazine

EntrepreneurMagazine

Lessonslearned from the Entrepreneurs` experience

Entrepreneursare a great source of ideas for those who wish to venture intobusiness for something new and exciting. From the articles, I havelearned that for a person to be a successful entrepreneur, one musthave a genuine love and passion for a particular project. Thisentails dedicating sufficient time and effort towards that projectyou wish to expand. When one establishes a business idea, he has highpositive expectations including generating maximum profits on the go.At the start of a project in some other cases, several challenges maypersist.

Atthis juncture, minimal time and efforts are directed towards theproject because it failed to generate desired results. This makes anindividual to lose passion about the venture and even give up. It isthus important to dedicate time and energy to help yield astoundingresults.

Lessonslearned from failures

Wemight experience failures while undertaking successful businessventures. This may be brought about by either internal or externalforces of the environment. According to Cope (2011), failures aredeemed to happen in any enterprise. The important thing to do is toembrace such failures and maintain resilience. This implies that weneed to establish survival tactics to continue operations, and thiscan only be effected when we fully commit ourselves to the businessproject. It may prove to be a challenge but when taken positively,concentrating on survival tactics rather than success andprofitability build motivation and self-confidence which is one ofthe essential qualities of entrepreneurs to achieve long-termprospects.

MyAttitude towards failure

Ifmy business project were to experience failure, I would embrace apositive attitude. This is because a positive attitude serves as akey asset for entrepreneurs as it seeks to help them to deal withchallenges and learn from mistakes. It fosters minds of creativityand innovativeness (Cope,2011).To overcome major setbacks, I would recommend a testing andexperimentation program to help determine if the business project isheaded in the right direction and if not, corrective measures can betaken to ensure everything is moving on the right path.

References

Cope,J. (2011). Entrepreneurial learning from failure: An interpretativephenomenological analysis. Journalof business venturing,26(6),604-623.