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There's more to being an Entrepreneur than thinking about it!

I've had so many people make comments to me about going into business for themselves. They tired of working so hard. They want to set their own hours. They've had great ideas. They want to make big bucks.


While these may be noble goals to write down on paper and perhaps even hang on the wall for future reference, it's most definitely the wrong way of thinking. Being an Entrepreneur means working harder than you've ever worked before. The hours can be long, and not always rewarding financially. It's not always easy to turn those great ideas into a paycheck.

"I have this great idea", a friend said recently. "WE can make big money!"

Notice the WE part. There seemed to be some spark of entrepreneurity in there somewhere, but having an idea doesn't get you anywhere unless you act on that idea. This is where another concept really comes into play. I call this trait Economicity.

economicity (n) "The ability to sort through an idea, weigh the pros and cons of every aspect of that idea, and create a logical set of steps to bring the idea to an economical conclusion. That is to say, find a way to either make money, or have the smarts to say "I can't make money from this at this time."

Often, economicity requires an additional dose of entrepreneurity. Perhaps the idea in it's original form isn't practical, or can't be accomplished in an economically feasible way. But, with a little additional creative thinking, the idea can be morphed into something that is producible, or even has a completely different application.

We've all heard stories about some entrepreneur trying to create one thing and ending up successfully applying the idea to something completely different.

The point to be made here is that having a great idea makes you clever, or maybe inspired. It doesn't make you an entrepreneur. The idea is only the beginning of the process.

Permalink 07/22/08 02:25:35 am, by Bill Email , 325 words, Categories: Entrepreneurity ,