What is an Entrepreneur?

I think it is a person that takes a chance in organizing a business; risking their money to earn more money than what they started with. America is surrounded with entrepreneurs, some are small risks and many are risking everything they own. Most entrepreneurs are under-funded and 51% do not survive after their 2nd year.

Think of a local shopping center that offers: a 7-Eleven store, Nails/Spa, Pizza, Sub shop, a local Diner or Restaurant, etc. totals 5 entrepreneurs that invested their savings into a business: risking all of their money. You can find 4, 5 and more businesses in your neighborhood, all thinking they can do a job better than the failed Entrepreneur before them.

I have learned the following steps are necessary to succeed:

A business requires the following:

1. Start with a Business Plan, a must.

2. Sales Forecast, monitor closely, daily, monthly.

3. Funding Flexible: best Case and worst Case

4. Relying on friends and family for funding are risky and can cause years of frustration; last resource.

5. Leadership: Don’t demand a successful task unless you can do it yourself.

6. Make decisions quickly, Do Not Procrastinate

7. Find a business you like, no love.

8. Be willing to work late at night and arrive early in the morning.

9. First in... Last out... of Business!

10. Entrepreneurs are what makes Capitalization work in America; cherish the Opportunity.

Good Luck

Serial Entrepreneur CEO