Heartfelt Entrepreneurship: Unraveling the Emotional and Profound Realm of Business Ownership and Impactful Contributions

If it were easy, everybody would be doing it.

I went into business because I’m passionate about my industry, about being an entrepreneur and about enhancing, improving and adding value to someone’s business and life through my meaningful and just-in-time contributions

Hundreds of thousands of words have been written about what it means to be an “entrepreneur.” Entrepreneurs have been qualified, described, classified, defined, investigated, characterised, construed, represented, delineated, designated, detailed, explained, expounded, illustrated, interpreted, and labelled. Writers have gotten into our minds, skin, and shoes to discover what makes entrepreneurs tick. We’ve been called rugged individualists, bootstrappers, soloists, risk-takers, speculators, and merchants. You name it better!

I use the phrase “business owner” interchangeably with “entrepreneur.” You fit the bill if you own all or part of a relatively small, privately held company—whether you started it, bought it, or inherited it—and it is the same term.

I’m not going to do any further defining. You know who and what you are, and you don’t need me or anyone else to tell you.

Why do I need to address this?

This article is not for accomplished business owners who have taken their firms public or who have driven their privately held companies’ revenues into the hundreds of millions of dollars. It’s written for small to mid-sized business owners who struggle to break through to the next level and work hard but never seem to enjoy the fruits of their labour. And it’s written for future entrepreneurs, so they might avoid learning the hard way.

Before I understand why you started (or want to start) your business, let’s focus on whether you should have done so or should do so in the future. (I want would-be entrepreneurs to feel included, but from now on, I’ll refrain from referring to you to keep things simple in this guide. So even though items are referenced to existing business owners, it applies to you also.)

Entrepreneurship is not for everyone!

Entrepreneurship is not for everyone. I know business owners who should not be in business, and I bet you do too. Statistics don’t lie! Numbers tell us that more than 70% of new businesses don’t survive their 5th anniversary. Hard to swallow? Yes, it is!!!

Chambers of Commerce, the Small Business Administration, and the adult education departments of many community colleges sponsor “How to Start a Business” classes. If you’ve ever attended one of these, you’ve undoubtedly heard a litany of characteristics you need to succeed in your business. Typically, they include the ability to focus on details while still watching the big picture, people skills, negotiation skills, and enough savings to keep you afloat personally until the business becomes successful enough to start paying you a salary.

Entrepreneurship is rewarding, but not everyone’s choice…

There are also thousands of books, guides, e-books, and courses on the topic where you can find the answers. All these are valuable and important, but unfortunately, they are not sufficient or over the top and will take you a lot of time to master! I will present condensed wisdom in a format that will not overwhelm you but will challenge you to think it through on your terms and in your own time for your benefit and results.

You need to be passionate about three things.

I submit that passion, vision, and clarity are the overriding characteristics that separate successful entrepreneurs, visual thinkers from also-rans, objections seekers, and “fuzzy-minded-looking-for quick-fix opportunity” seekers. And at the beginning of your entrepreneurial journey, you need to be passionate about these three things, and the three things only:

1. You need to be passionate about being an entrepreneur and willing to take risks and absorb threats that may come your way.
2. You need an above-average passion for your industry. You need to love what you do, as your chances radically improve with unreserved love.
3. You need to be clear and confident that your contribution will positively enhance, improve, and add value to someone’s life, business, or organization. You must be service-oriented from the inside out.

Embrace your passion, vision, and clarity, and let them guide you towards a future filled with boundless possibilities and lasting success.