What It Takes To Be An Entrepreneur


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It is not easy being an entrepreneur. Entrepreneurs must fight millions of years of human evolution; evolution that compels you to seek out the safety inherent in the herd.

This desire to herd helped early humans survive the onslaught of predators, lurking around every corner. Being part of a herd was the means by which humans survived the early years of humanity.

But entrepreneurship requires rugged individualism. That individualism forces entrepreneurs to step outside the herd; separating themselves from the thinking and actions of the herd.

In short, they are forced to lead and to create their own herd.

Successful entrepreneurs who become millionaires have hundreds in their herd.

Successful entrepreneurs who become deca-millionaires have thousands in their herd.

And successful entrepreneurs who have millions in their herd, become billionaires.

Those who are unable to step outside the herd are not suited for entrepreneurship. And that’s OK.

Most people are not suited to be entrepreneurs. The vast majority find comfort in the herd. They are happy to live their lives doing what everybody else is doing. Safety and security trumps their desire for wealth and success.

Consequently, those not suited to be entrepreneurs, do what others inside the herd do. They think what others inside the herd think. And their very success depends on the success of the herd.

If you believe you have what it takes to be an entrepreneur, you need to become aware of the many things that can derail entrepreneurship. These are the  enemies of entrepreneurship:

  • Fear & Doubt That Causes Inaction
  • Procrastination
  • Complacency
  • Victim Mindset
  • Feeling Hopeless
  • Desire for Safety & Security
  • Perfectionism
  • Quitting on Yourself
  • Lack of Persistence
  • Lack of Consistency
  • Poor Processes or No Processes
  • Bad Habits
  • Negative Thinking
  • Limiting Beliefs
  • Under-Capitalization
  • Poor Health

There are also structural enemies of entrepreneurship:

  • Heavy Government Regulations
  • Socialist or Communist Economic Systems
  • Dictatorial Government Leaders
  • Crony Capitalism

These structural enemies make is difficult, if not impossible, to succeed as an entrepreneur.

Countries who encourage entrepreneurship, embrace capitalism. They typically have low business taxes, tolerable government regulations and a free market system with minimal government interference.

Even the Scandanavian countries (Denmark, Finland, Norway and Sweden) who have been misrepresented as socialist countries, embrace free market capitalism, have low government control and regulation over businesses and keep business taxes relatively low (20-24%).

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Thomas C. Corley About Thomas C. Corley

Tom Corley is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, CFP, holds a master’s degree in taxation and is President of Cerefice and Company, a CPA firm in New Jersey.
Phone Number: 732-382-3800 Ext. 103.
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  1. Hi Tom
    I love reading your posts and Rich Habits, also the complimentary book you sent me “Change Your Habits, Change Your Life. I wish I had access to them a long time ago, when I was in business and still only in my 40s. They say never too late to learn – I am hoping 70 isn’t too late.
    Katharina (Katy) Zeelenberg

  2. Hi Tom,
    I read your posts on a daily basis.Your constructive ideas have begun to transform my life,thank you for the support you are providing to free the world from poor habits and poverty

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