The world functions off the backs of hard working, productive members of society, creating and adding value through various skills and professions. A college education, as well as the promotion of a stable, secure and safe life path is exactly what leads to the said functioning world.
Many pros make the normal life path quite attractive to millions of people around the globe, yet there are always those who want more from the system. This is also natural, as with all the above-mentioned benefits of a corporate job, there are undoubtedly negatives, only amplified situationally by poor working environments.
Being overworked, suffering under the hierarchy steps, having little to no flexibility or independence are certainly things very relevant that push people towards business, and by extension entrepreneurship. Who wouldn’t want to build a successful project, bringing home thousands, if not millions of dollars off that same project.
Statistically, there are millions of new businesses launched every year, so clearly the above-mentioned concept is extremely appealing. The simple fact of the matter and a natural question arises though, when looking at this statistic, how does one break through and overcome such overwhelming competition. What is the split of luck and skill when it comes to actually succeeding?
This is an extremely extensive topic, and this article aims to try to cover the most important information regarding it. The gist of the issue will be hopefully be resolved below, breaking down in detail the concept of Entrepreneurship, and exploring some resources available out there that help others grow in the field.
What is Entrepreneurship?
It is very easy to associate the word entrepreneur to a businessperson, and to generally tie the term to finance. One should not really be blamed in this case, as the entrepreneur at its core is a businessperson, trying to kick start a successful project.
What makes an entrepreneur unique though, is typically the lack of a massive team or a support group backing the operation, as well as the financial risk that would damage the individual’s pocket. Of course, some risk is natural for all businesses, yet entrepreneurs take it to a whole new level.
Generally, this is because they are often associated with innovation and fresh, untested ideas for projects. These methods can really be a double-edged sword, typically being high-risk high-reward by nature.
Humans in the current day and age live extremely comfortable lives, which naturally constitutes the incredible difficulty of offering, innovative, and useful physical items that hold the potential of launching a successful business. Considering the massive wave of competition mentioned above, as well as a plethora of other challenges that will be covered below, it becomes clear the type of person a successful Entrepreneur must be.
Alongside the obvious traits of creative thinking, one must also be extremely resilient and disciplined. Success doesn’t come overnight, and considering the above-mentioned financial risk involved with the field, it is very easy to be discouraged and demoralized. Very few succeed in this realm, but I suppose that is natural for an industry promising riches to all those who make it.
Obviously, for a great businessperson, selling a product and actually getting the customer hooked or interested is essential.
This is true in almost every other field as well, including entertainment industries like movie studios for example, spending millions on advertisements and marketing campaigns, to other aspects of finance such as cryptocurrencies, which are extremely relevant due to their worth being determined entirely by the spotlight that they are currently under.
Crypto Entrepreneurship: Rising to The Top Through Digital Assets
Cryptocurrencies, in general, could be a great asset to an entrepreneur, due to how heavily it impacts the financial world. Even today, it remains an industry with a trillion-dollar market cap, with many solid investment opportunities, as well as a solid footing in many different fields.
With its inherently innovative nature, the cryptocurrency world offers vast opportunities for entrepreneurship, boasting its transformational potential to launch new projects in the Web 3.0, DeFi, and blockchain spaces. Crypto entrepreneurs tend to select a particular business direction, be it developing a new token, providing new crypto integrations, or launching a public exchange, while securing initial funding for their ventures.
Overall, without the buzz and proper exposure around cryptocurrencies – from the side of entrepreneurs, reputable platforms, and investors alike – the industry would immediately die out. Truly, what keeps cryptocurrencies alive is the community of millions, discussing their interests, and bringing newcomers through countless resources, crypto education, and relevant bitcoin news – including but not limited to the largest protocols, contracts, and cryptocurrency regulations in the space.
According to Forbes, crypto entrepreneurship has spawned 19 billionaires who owe their wealth to the digital assets – not only through crypto investments but also through their projects in the blockchain technology space.
Persuasion And Entrepreneurship
Given that, while entrepreneurs definitely do not have established communities of millions, they can utilize various methods to boost their chances of success. Firstly, it is obviously important to know the roots of sales, and how it does and does not work., how to persuade people and instill in them the trust of the product and the seller.
This topic has been covered by many great authors and knowledgeable individuals, though the one book many experts highlight is the “Psychology of selling” By Brian Tracy. In it, the author goes over the fundamentals of building credibility through reliability and honesty, understanding various aspects of human psychology to aid in selling, possessing good communication skills as well as always looking out for new opportunities to learn and improve, as it is a constant process.
While this book is very well tested, it came out in the pre social media era, meaning an important aspect of modern marketing is not covered. Whether it is through Instagram or X, there are many companies finding massive success in their fields, including entrepreneurs. Hell, social media is such a powerful tool nowadays, some entrepreneurs use it as a full on revenue source.
Let us focus on YouTube for example. While the platform started out as a fun way to interact with people across the globe, sharing hobbies and passions, it quickly found a massive audience, and naturally massive profit and wealth. While there are countless on the platform still simply using it for the initial mentioned purpose, there have appeared many creating content favored by the algorithm, simply for profit.
The issue that is present here as in all the other aspects or fields of entrepreneurship, is again the incredible level of competition. Being a creator is becoming a very desired job, especially in the current day and age with the new generation, naturally causing a spike in the level of challenge. What used to be a relatively niche space, is now enormous, with billions of users, and thousands, if not millions of creators.
General Entrepreneurship Information: How to Learn About The Topic
With that covered, we must talk about one of the most important aspects of not just sales or entrepreneurship, but life in general. That would be the need of good communication skills, especially relevant in our field of discussion.
Being well-spoken and persuasive is even intuitively great for business. Having the ability to capture the attention of a customer, or build a network of people sharing the craft and passion for entrepreneurship is impossible without this skill.
The world and many talented authors acknowledge this, and have created many great resources aiding those who seek help in this regard. The most popular one is “How to win friends & influence people” by Dale Carnegie, a time-tested book recommended by many experts.
Summing it up briefly would do it a disservice, but the book, as the title would suggest delves into human psychology, exploring all the ways in which one attains respect and the attention of listeners through being likable, persuasive or charming. Alongside the above-mentioned “Psychology of selling”, it arms any aspiring entrepreneur with great knowledge, yet even that would be wasted without proper action and calculated risk.