"Every worthwhile accomplishment has a price tag attached to it. The question is always whether you are willing to pay the price to attain it - in hard work, sacrifice, patience, faith, and endurance."
John C. Maxwell
If you examine the lives of successful people, you will find that they paid a price that is directly proportional to the amount of success that they've earned or attained. This is true regardless of the profession, vocation or undertaking. More likely than not, this examination will also reveal years of study, preparation, learning and some failures along the way.
As you consider your own goal of entrepreneurship, also consider what you are willing to sacrifice for what you expect to receive. Be prepared to give generously of your time and talents long before expecting a return on your investment. Most "overnight successes" labored in obscurity before being recognized for their achievements.
Learning Activity
If you have prepared your Business Plan or an Executive Summary, take a close look at it and write out in numerical order what sacrifices you are required to make in order to bring your vision into reality. If you don't have a Business Plan or Executive Summary, simply write out your goal and then write in numerical order what you will have to sacrifice in order to achieve your goal. Most importantly, for this exercise you MUST be honest about the sacrifices (time, talent, money, family time, prestige, retirement etc.) and whether you are willing to make them.
John C. Maxwell
If you examine the lives of successful people, you will find that they paid a price that is directly proportional to the amount of success that they've earned or attained. This is true regardless of the profession, vocation or undertaking. More likely than not, this examination will also reveal years of study, preparation, learning and some failures along the way.
As you consider your own goal of entrepreneurship, also consider what you are willing to sacrifice for what you expect to receive. Be prepared to give generously of your time and talents long before expecting a return on your investment. Most "overnight successes" labored in obscurity before being recognized for their achievements.
Learning Activity
If you have prepared your Business Plan or an Executive Summary, take a close look at it and write out in numerical order what sacrifices you are required to make in order to bring your vision into reality. If you don't have a Business Plan or Executive Summary, simply write out your goal and then write in numerical order what you will have to sacrifice in order to achieve your goal. Most importantly, for this exercise you MUST be honest about the sacrifices (time, talent, money, family time, prestige, retirement etc.) and whether you are willing to make them.
The opportunity costs of becoming a successful entrepreneur include Me time, time with family and friends, having savings and disposable income, having creative energy for my favorite pastimes and spur of the moment trips. But these are no different than when I built my house. It really did not feel like a sacrifice becuase it was something I wanted to do and enjoyed. It was a different type of outlet for my creative energy. As a matter of fact, I didn't realize I was giving up anything until riding along the highway one rare summer holiday Sunday afternoon I saw people seating on their porches. I told my husband " I'll be glad when we can just sit on the porch and do nothing".
ReplyDeleteAs is often said, find something you love and you will never work another day in your life. If what you do is of value to you, you will not feel the "sacrifice" of it.
ReplyDeleteI admit that the idea of starting out on my own had been niggling at the back of my mind for many years. But I had always been comfortable (there’s that dreaded word!) so I never let the idea gather momentum. Keep advices from lifestyle business hacker
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