Why only few succeed in being successful Entrepreneurs?

ByHanna Shiferaw

Entrepreneurship is a self employment creative work, taking all the risks associated with it. As a result, it has many rewards to offer you such as; It prompts you take control of your destiny, you work in a field you are really interested in, you are your own boss, you can achieve financial freedom, and you can stretch yourself in whatever direction you want.

Given the benefits of being an entrepreneur, many people want to be entrepreneurs. However, only few succeed in it. Why?

Despite its all benefits, entrepreneurship is a whole risky way of life. It has many challenges and problems. Even though, wishing to be a good entrepreneur is an easy thing, achievement is another case which needs persistence and courage.  In a way of entrepreneurship, you may live below standards for some time until your business starts enjoying profits, lose your savings, get so stressful, face challenges now and then, may not found any support from anyone and have to stand alone.

Thus, to cope up with those tough situations and be successful in it, entrepreneurs need much important skills and talents. A good entrepreneur needs to be a  good communicator, planner, organizer, emotionally strong, coach, self motivated, hard worker, patient, able to adjust to new situations, never gives up, visionary, purposeful and knows his directions clearly.

Among the reasons many fail to be successful entrepreneurs are expecting wrong assumptions such as, entering in to the business in search of fame and recognition, get rich quick shortcuts, lack of emotional strength and hard work, fear of failure, expecting little work and much leisure time and unwillingness to work and live beneath standards.

Entrepreneurship is for the humble, who doesn’t need praise for whatever little or big he does, for the hard worker and passionate, who is willing to work 12-16 hours a day and doesn’t look for get rich quick shortcuts, for the brave heart, who takes his failures as starting points, and for the wise, who works beneath his status to achieve his dreams.  That is the secret of successful entrepreneurship by which many fail and only few succeed.