By: Ken Austin
An entrepreneur takes a path that few others care to even consider. Self-employment means taking risks and creating value based upon an idea or vision. That vision, and how clearly it is focused, determines the resolve and dedication of the business owner in applying will power to achieve the goals of the business.
The source of that vision needs to be more than just making a profit: that source must be inspiring and meaningful beyond mere revenue.
The foundation of any business is the why of its existence. Entrepreneurs move resources from a place of low return to a place of high return, according to the original meaning of the word when it was coined. The motive for doing so, the definite major purpose behind all the work involved in moving resources, can make or break an enterprise.
Workers in a business can be motivated from without, by careful attention to their needs and the needs of the business. Business motivation for the business owner only comes from within.
An inspiring, worthwhile dream or vision is the bedrock upon which a solid foundation can be built. This dream or vision gives a deeper meaning and value to a business, beyond providing a product or service at a fair price and making a profit.
No business is perfect, nor will any business run without problems, challenges and threats. To keep up the effort needed to overcome obstacles, meet goals and defend against threats, the business owner must be inspired and excited about the “mission” of the business.
This mission, or “inner calling”, must rest upon the one thing a person does the best. Identifying your core competency becomes the most important task for you to begin building a successful business.
If you already have a business that is based on something other than your core competency, you may need the courage to relinquish this old business and devote yourself to creating one based soundly upon this strength of yours.
Most new businesses fail. That is a simple matter of fact. The one factor that can increase the likelihood that your business will thrive is to work unflinchingly at identifying and dedicating your business to the exercise of your core competency for a definite, major purpose.
How much and how well you serve others by means of your business, above and beyond making a profit, won’t guarantee your success. Failing to do so will practically guarantee your failure. Your motivation to work and grow your business will absolutely determine how far and how fast you will rise to success.