Recently, I was pondering the gulf that exists between the fantasy of entrepreneurship and the reality. Pop culture portrays entrepreneurs as superheroes. They’re hailed as master innovators; economic revitalizers; and big, bold (and sometimes horribly bad) risk takers.
These depictions aren’t incorrect, per se, but they do add up to create a myth that entrepreneurship is elusive, exclusive, and elite. In reality, I believe anyone with a smart idea, the right drive, and a clear sense of commitment can become a successful entrepreneur.
Still, entrepreneurship isn’t easy — not now, not ever, and not for anyone. It takes grit, stamina, and an indomitable spirit to make it, but more than that, it takes a clear understanding of three basic assets — money, time, and knowledge — and how you can convert these critical resources into continued growth opportunities.
Transforming Assets Into Growth Opportunities
If you’re truly entrepreneurial, you’ll recognize money, time, and knowledge as the assets they are rather than the barriers they’re often perceived to be. For example, we’ve all heard the “I just don’t have time” excuse. Though time is often in short supply, it’s important to remember we all have the same number of hours in each day. It’s what we do with that resource that makes the difference.
You’ll bridge the fantasy-reality gap by first realizing your limitless potential — regardless of the resources on hand. This requires a truly optimistic and opportunistic mindset. You’ll gain momentum as an entrepreneur by then managing the confluence of these assets as they collectively transform into the actualization of your growth goals.
1. Money = Growth
For would-be entrepreneurs, money seems like the tallest, most intimidating barrier. But the problem is less about not having enough money and more about believing money is the only valuable resource.
Start by realizing that what you have to offer is something more valuable than dollars and cents. Instead, consider the value of your other assets (time and knowledge), and prepare to barter effectively, always considering what you want to gain from the exchange.
Once money is actualized in this exchange, know your flow. Remember: Where it flows, it grows! Unless you’re carefully tracking your spending, you won’t be able to identify wasteful patterns you could otherwise control. Once you understand the reality of the situation, you can start to direct the flow of those resources in a more conscious way.
As you’re managing the flow of cash toward growth-oriented activities, be clear about what you want versus what you need. Commit to the practice of careful, considerate spending. With the right frame of mind and a solid set of solutions, you can begin to turn your financial resources into greater opportunities to actualize your vision.
2. Time = Money
When you don’t have money, you do have time; frankly, this is much more precious than most humans imagine. As a busy entrepreneur, it’s easy to forget time as we hustle from one important meeting to the next — filling every other Go to the full article.
Source:: Business 2 Community