Entrepreneurial

Entrepreneurial Trends of 2014

Entrepreneurial Trends of 2014

One of my core beliefs as an entrepreneur is that stagnation is counterproductive to growth, while change can be the catalyst for forward thinking, consciously evolving individuals. Although it can be unnerving for many we have to evolve with the times and that goes for inventors and business owners looking to create the “new next best thing” or move their business from stop to go. With the New Year fast approaching, we’re going to see new trends in 2014 as the supply and demand pivots the need for adaptation to a constantly evolving global market. Without further ado, here are the trends I see becoming prevalent as we head into the new year:Entrepreneurial Trends of 2014 image photo1Entrepreneurial Trends of 2014

A Rise in Environmentally Conscious Consumers – 2014 will see the adaptation of sustainable (green) practices across the board. Major corporations are buying more sustainable products and services, and

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5 Factors for Planning Your Entrepreneurial Legacy


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Opinions expressed by Entrepreneur contributors are their own.


In business today, disruption is the name of the game. Entrepreneurs are constantly looking for ways to shake things up, find new perspectives and change the rules. 

While carving out a place for yourself in the market is crucial, focusing only on your numbers sheet is a bit shortsighted. For entrepreneurs, the sign of true success isn’t short-term profits — it’s a lasting legacy. Now more than ever, entrepreneurs need to look forward to what their long-term impact on the world will be. Knowing what you’ll be known and remembered for down the line, however, isn’t always easy. If you’re hoping to turn your present success into a future legacy, it’s important to start thinking ahead today. Here are some key factors to keep in mind when planning your entrepreneurial legacy.

Building positive relationships is already

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Why Are Some Geographic Areas So Entrepreneurial?

Entrepreneurs are people who sacrifice the security of a regular paycheck for the freedom and flexibility to build their own business. Be they empire-generating gurus like Steve Jobs or lesser-known, self-employed freelance writers, why do some individuals forego traditional business structures to branch out on their own?

Workplace peers are one important influence, say researchers. Those who work with former entrepreneurs are more likely to start their own businesses.

Analyzing comprehensive labor census data from Denmark, Jesper Sørensen of Stanford Graduate School of Business and Ramana Nanda of the Harvard Business School found that those who became first-time entrepreneurs between 1990 and 1997 were more likely to have worked with colleagues who formerly owned their own companies or independent businesses.

“Although the data isn’t refined enough to tell us precisely, we think this suggests that sometimes all it takes to become motivated to be an entrepreneur is to have a

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Entrepreneurial Skills – Career Development from MindTool.com

Entrepreneurial Skills - The Skills You Need to Build a Great Business

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What skills do you need as an entrepreneur?

What makes someone a successful entrepreneur? It certainly helps to have strong technology skills or expertise in a key area, but these are not defining characteristics of entrepreneurship.

Instead, the key qualities are traits such as creativity, the ability to keep going in the face of hardship, and the social skills needed to build great teams.

If you want to start a business, it’s essential to learn the specific skills that underpin these qualities. It’s also important to develop entrepreneurial skills if you’re in a job role where you’re expected to develop a business, or “take things forward” more generally.

In this article, we’ll look at the skills you need to be a successful entrepreneur, and we’ll explore resources that you can use to develop the traits needed for success.

Defining Entrepreneurship

Some experts think of entrepreneurs as people

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The 5 Social Skills That Increase Entrepreneurial Success

Having a great product, an amazing team and an IQ over 120 are not sufficient for success. An entrepreneur must also possess effective social skills [1]. They must rely on these skills to form relationships with customers, suppliers, employees and venture capitalists. They have to convince people to love their product, idea and vision. They need to create an environment of collaboration in order to facilitate interaction between employees.

 

Founders must be the person to lead their team to success and their social skills are critical in this endeavor.

 

Research suggests that socially competent entrepreneurs create more effective personal relationships [2], receive more funding [3], are more financially successful [1] and have more successful companies [4] than entrepreneurs who lack effective social skills.

 

Social competence is therefore a key differentiating factor between the success and failure of an entrepreneur and his venture.

The 5 factors that underlie social competence in

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Entrepreneurial Life Cycle | Global Entrepreneurship Institute

The Entrepreneurial Life Cycle repeats itself in businesses of all sizes, from start-ups in a garage to corporate entrepreneurship activities in global Fortune 500 companies. It starts with an entrepreneur who perceives an opportunity, creates an organization to pursue it, assembles the required resources, implements a practical plan, assumes the risks and the rewards, all in a timely manner for all involved. We present the seven stages in the Entrepreneurial Life Cycle.

Entrepreneurs are directly involved in the dynamic, and very complex, interrelationship between financial management and business strategy. This is the significant difference that sets entrepreneurial management apart from all business management practices. In almost all cases, the person making the decisions has personal risk at stake. The worst-case scenario for folks “at work” is getting fired. The worst case for entrepreneurs is losing their home, personal credit, and lifestyle, as well as the destruction of family relationships.

Defining

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