Monday, April 20, 2015

Why Entrepreneurs Always Want More More More!

Entrepreneurs always want more by Jonah Engler

The simple answer is that most people want more of something – Entrepreneurs are no different. So, let’s examine what some of their specific wants for more are likely to be.

More time.

When starting a new business, you might have dreams about that most elusive and fleeting thing – time. But the goal for most business owners is to get to a point where you have more free time to enjoy the people you love and the activities that feed your soul. And it wouldn’t hurt if you could accomplish more in less time too.

More working capital.

When a business first begins, this is usually a huge concern. It is hard to grow without being in a financially secure situation, so yea …. “show me the money.”

More sales.

This one ties strongly in the working capital want – sales will help fund the working capital, but also if you have a lack of working capital, it may hinder how much you can create and then sell. But, while pondering this thought, look closely to see if you really need more customers instead of just sales.

More stress-free time and more sleep.

Again, if you are still in the process of getting your business to a sufficiently successful status, you’re likely to have significant stress – there is so much that needs doing. But even as you get to a high level of success, your stress won’t end. You’ll be focused on making sure the employees are happy and working hard, and that you’re spending enough time with people you love, so they don’t forget what you look like when you’re smiling. Loaded down with so much stress, what little time you have allotted for sleep might diminish while you worry.

More satisfied and appreciative customers.

Isn’t this the ultimate symbol of entrepreneurial success? Knowing the product or service you offer is really helping others, and they see the positive benefits enough that they take the time to say so. And when you have that happen, be sure to use their comments as part of your PR offerings.

More opportunity for a successful exit from the business while passing value to the buyer.

It might be hard to think of this one in the beginning because hopefully you are pursuing a passion. But sooner or later you may feel the urge to move on to other passions or visions. Having a successful exit allows you to do just that, without needing more time, money or sales just to get your new venture going. Don’t forget that as you start the newest venture, to share the success in your previous one. People love a good success story.

Do you have your own business, what are your wants not mentioned here?

Jonah Engler is an entrepreneur and a finance expert from New York City.

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