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Derek Elliott – How Entrepreneurship Improves Your Life

Press Release   •   Oct 08, 2010 15:25 EDT

The benefits of entrepreneurship towards the economy and the entrepreneur himself or herself are tremendous. By Starting as small and working is always a good idea when it comes to entrepreneurship. Then entrepreneurship is the ticket towards the financial independence.

Entrepreneurship is one of those things that can provide greater results, greater benefits than you might have initially expected. You’ll develop deep life experience and a level of humility as a result.

You’re going to be tested. Hammered, actually. When I started my journey as an entrepreneur, my vision was fixed on the financial rewards of growing a business. I had no way of knowing how many great personal tests I would face along the way. I was too inexperienced to anticipate how market factors, competitive pressures, cash constraints, and managing employees would create an environment of nearly constant pressure.

You’re going to fail. That’s a good thing. Think of failure as the toll paid for future success. Every great success story includes painful chapters of failure and misstep. It’s a fact that through failure, questions are answered and solutions are discovered.

You’re going to learn patience. It develops as a natural result of the hammering and the failures that you’re sure to experience. Patience is the trait that truly separates inexperienced entrepreneurs from the seasoned and successful. Patience earned through experience is what allows a business operator to get beyond idealistic dreams and deal in the world of sound, realistic expectations.

You’re going to have a major impact on people. It’s inevitable. People—perhaps many people—are going to give a portion of their lives to your cause. This isn’t a small thing. Your actions toward your customers, vendors, and especially your employees will have a positive or negative impact on their lives.

You’re going to develop character. Sure, you might get rich, retire young, and travel the world, too. But realize that this isn’t really the end game. You will recognize that building a business is much different than what you might have initially envisioned. If you choose to pay the price for success, you’ll find that it’s actually much harder than most accounts of business success would suggest.

But through that hardship, great rewards are available. Developing a sound character among others is the most important perk of entrepreneurship. Probably at the end of the day, no one cares about your money . They care only about who you are.

We all have perceptions of what it will be like to reach a certain goal. And when we finally get there, we usually find a completely different reality than what sparked our action toward the goal. As an entrepreneur, that has been my experience.

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