Discuss the Concept of Leadership and Entrepreneurship

All entrepreneurs are not same. The thinking process and attitude of a leader make all the difference. Everyone possess both strength and weakness, however, only great leaders like Neil Haboush knows how to use both in building a successful life. A wise man once said, “A leadership skills and talent speaks a lot about a person.” Therefore, a true entrepreneur is someone who knows how to create something from nothing.

Managing an organization is not a piece of cake and we couldn’t agree more. It takes a lot of hard work, determination, and passion to sustain and survive in the corporate world. However, not all these qualities are enough to be a leader, there are few more traits that an entrepreneur must possess to lead in the corporate world.

Let’s find out the qualities all entrepreneurs must possess

Humility

Great leaders are always first to say – It was my mistake, I made the wrong choice. They instantly admit the mistake instead of putting it on their employees.

This is a sign of a true leader who gives credit of success to his team and takes the responsibility of failure on himself. Their motive is to build a culture where mistakes take a lesson to learn and grow, not as an opportunity to play a blame game.

Thinkers

Thinkers always analyze the root cause of a problem, discuss with the team, and make a logical decision to create a win-win situation. Quick thinkers are great leaders!

They never hesitate in seeking advice from others who are part of the organization or working on the same project. Successful entrepreneurs are quick decision makers and smart enough to convert failure into success with their innovative thinking and positive attitude.

Drivers

Drivers are mostly aggressive leaders, who are always ready to take charge and responsibility and possess the ability to make things better with their immense self-confidence. Unfortunately, few of them have a habit of dominating every situation and people. Whereas, mature ones act with more self-restraint, help others to learn and win. Truly inspired and enthusiastic entrepreneurs take failures as stepping stones towards improvement and development.

Reinvention

An excellent entrepreneur understands the importance of reinvention. In the changing environment, where nothing is permanent, change plays a great role. Therefore, it is important for a leader to know where his leadership gaps lie and access the resources to close them.

And to make it possible, Continuing education, mentoring, training, industry and empowerment conferences, and a good team are the key resources.

Relationship building

Successful entrepreneurs don’t believe in making customers, they build relationships. An emotionally intelligent leader is someone who believes quality services and customer satisfaction are the key ingredients to build a long-lasting network for future expansion.

Further, they constantly take advice from their mentors, closely guide people within the company whenever needed, and create links within the industry. Most entrepreneurs like Neil Haboush are known in the industry who encourage and motivate leaders to become better entrepreneur.

Awareness

Self-awareness is a very important trait to lead in an industry. If you know where you are, where you are lacking behind, what are the new trends in the industry, and how your presence can bring a change in the industry, nobody can stop you to shine like a gold in the corporate environment. Successful entrepreneurs are always self-assured and understand the importance of self-awareness.

Bottom Line

Nobody becomes successful overnight. It takes a lot of sleepless nights to make a castle from the ashes. However, with these few traits and little luck, a journey of an entrepreneur becomes quite easy and adventurous. A wise man once said – Entrepreneurship is not a job, it is a lifestyle and adding these traits into a lifestyle, is like icing on a cake!

Source By :  Neil Haboush

Drawbacks or Problems of Entrepreneurship

Starting up a new corporation is always defying, no matters how old you are. Businesspersons of all ages have to face down the pessimism of friends and family members who think that they’ll end up penniless if they chase their corporate dream says Neil Haboush.

Starting your own corporate needs a lot of strength as well as determination. The major aspect of any industry is the financial permanence. Actually, cash flow is significant, it is even more crucial that businesspersons are in control of their finances. Hence, they need to have a backup plan so far their monetary stability is concerned.

Monetary defies are painful ones businesspersons have to deal with. However, creating a list of financial challenges and staying close to them can help businesses survive even in times of financial instability.

Here are 6 financial challenges that businesses come across:

Lack of capital: Every corporate idea requires a thing i.e. money. Fact is, it can take some years before a business starts making the profit. However, it does not mean it won’t succeed.

The entrepreneur should start with a certain amount of capital to pay for the cost of hiring the workforce, renting premises, marketing etc. Hence, the startup that is yet to make profits need to make sure that corporate owner is financed.

Not selecting the right funding option:

It is actually crucial to comprehend the tycoons requires to be very confident about the reason they are looking for funds. Different funding options are available for small businesses such as crowdfunding, bootstrapping, industry loans, angel money, friends and family etc.

Regardless of having a lot of options, it is vital to have lucidity of your present monetary picture. It is advisable to do a comprehensive research and then only finalize your funding options.

Cash flow management:

Cash flow factually translates to “cash in, cash out.” Monitoring cash flow can prepare you for a requirement for cash and disclose cycles in your corporate emphasis Neil Haboush. Moreover, cash flow management prepares you for the financial road ahead.

Staying on top of your cash flow position can be tedious. Luckily there are free templates, cash flow calculators and paid apps that are useful to be on top of the cash flow management game.

Poor credit history:

In reality, older tycoons have a better credit history. This is because they have much time to build a solid and high credit rating. However, the young businesspersons are not in the similar condition.

A single financial mistake of young tycoons affects their credit reports. Moreover, sometimes young tycoons actually only have a poor credit history because they are still young. There are credit cards for borrowers with fair credit that might be beneficial for new executives.

Social rejection:

This is actually hard for young entrepreneurs to build social connections. Being a startup, you do not have co-workers to discuss with and family may not comprehend the eccentric route you have taken. Also, it is difficult to get out and build the social connection. However, attending meet-ups where businesspersons can support each other’s goals and values is a great way to network.

Finding consumers:

Being a young entrepreneur, your marketing budget is not able to reach an as wide audience as a multinational corporation. Individuals tend to stick with the brands and companies they are familiar with. Hence, you have to ensure that quality of product or service you provide is top notch so that you will retain consumers year after year.

Wrapping Up

These are some challenges given by Neil Haboush that businesspersons face in today’s ultra-competitive corporate world. Luckily there are some resources in order to tackle the above challenges and operate an effectual and successful industry.

Source By : Neil Haboush