The ability to be truthful goes directly to the heart of whether you get funding, attract customers and recruit great employees. But that is just one part of it. The ability to be wrong can determine if you survive at all.
We’ve all had bosses, friends and relatives that just couldn’t admit they’d made a mistake. We know how we feel when we know the facts and someone tells us we’re wrong or don’t understand. The longer we are in that environment, the less we trust the person, the more we doubt reality, or both.
Make no mistake, we presently live in a say anything to win environment. Sometimes people are intentionally dishonest. These situations tend to be self-liquidating. Elizabeth Holmes of Theranos, who famously said that having a backup plan is admitting failure, is the latest example where outright deceit brought someone crashing down. While spectacular, these cases relatively rare.
According to a report conducted by the Kauffman Foundation, supporting women-led businesses could have a huge positive impact on the economic growth of the U.S. Over the last few decades, more women have started to enter the workforce, and they began to outshine males in degrees. This led to women helping the U.S. economy by creating huge economic gains.
However, many have said that the annual economic growth of 3 percent has slowed down with the Kaufmann report suggesting that this could hit a low of 2 percent in the next few years. What’s the answer to boosting this growth again? Women.
Whether you want to connect with others online to sell a product or to raise awareness of a specific cause, it is imperative to get your site indexed by Google. This typically takes a while, and there is also a long process to get your search engine ranking raised. However, there are a few specific hacks you can employ to cut your wait time and improve your ability to quickly be found by qualified leads. Utilizing these hacks is a fantastic way for entrepreneurs to have a more solid launch for each new business venture.
Some people see entrepreneurs as leaders. Others see them as inventors. Still others see them as salespeople, or as general businesspeople. But very few people see entrepreneurs as writers.
On the surface, writing and entrepreneurship seem like completely unrelated concepts. Sure, you’ll do some writing as an entrepreneur, like in any professional position, but it’s not fundamentally necessary to become a successful business owner. Or is it?
I’d like to submit that all entrepreneurs have a role as a writer, or at the very least that they can benefit from writing regularly. Why?
6. Investors and The Rule of Rocks
Shark Tank has done a lot to raise the level of wishful thinking in America. Many people believe that if you find the right ten slides, or the perfect 30 seconds, you’ll be able to extend your hand and a check will float from the ether and drop into the palm of your hand.
Oh, that this were true.
If you thought that filing taxes as a “one man band” was challenging – wait until you hire employees. The government has strict regulations in place for employers that must be followed in order to avoid hefty penalties. Not only will you be responsible for distributing payroll on a periodic basis to your staff, but you’ll also be responsible for paying related taxes for each employee you have on the books. These taxes include federal income, social security, Medicare, and potentially state and city as well.
It takes a lot of characteristics to run a business. Ambition, intelligence and tenacity are just a few. It also takes love. It takes love for your vision, your work and yourself. Love is the thing that burns inside you when people tell you that you should give up on your idea. It’s the reason you get out of bed in the morning, ready to kick butt at your own business. Love is also the grace you grant yourself when you make a big mistake.
Love can take many forms, like showing vulnerability by putting yourself out there, trusting in a process to allow something to unfold and being authentic with the people you encounter everyday. It can seem uncomfortable to talk about these things in a business article, but the truth is — that’s where all the magic happens.
3.You can’t succeed without the ‘f’ word
I know what you’re thinking. Either a.) he can’t possibility mean that ‘f’ word or b.) the ‘f’ word is focus. Focus would be a good ‘f’ word. Nothing truly gets done without it. People who think they are multitaskers are really deluding themselves. Not even computers multitask. Designers just add more cores, but each one of them is only processing one instruction at a time, really, really fast.
We teach people how to visualize businesses and focus is an important part of it. I can tell you I get my best results when I can eliminate distractions. But that’s not the ‘f’ word we’re talking about.
There are important differences between entrepreneurs and wantrepreneurs that explain why some business people succeed against all odds, while most fail. It isn’t always easy to predict who will come out on top in the competitive world of business. Lenders, investors and prospective business associates considering a relationship with an entrepreneur should carefully evaluate possible liaisons based on the list below. The question to answer is whether the business owner is a committed and focused entrepreneur or a wantrepreneur destined to fail.
Entrepreneurs are passionate about their business and are willing to make it the top priority in their life, in sharp contrast to wantrepreneurs who may talk about their dream but are unable to focus on the business and give it the necessary attention required to succeed.