Merriam-Webster defines Entrepreneurialism as: 'one who organizes, manages, and assumes the risks of a business or enterprise'
It takes a lot of desire, determination, drive, ambition, sacrifice and the willingness to not give up in the face of adversity. If you have these qualities, becoming an entrepreneur will be an extremely rewarding experience. No matter what business or enterprise you are starting these qualities are demanded of you. Real estate investing is no exception because it is a business too. I will emphasize again that continuing education in your field must be constant.
My business partner and I had to revise our purchase contracts because of the changing laws for investors in our state. I made him aware of this and he contacted our attorney immediately so the changes could be made. If not we would have been in violation of state law resulting in a possible felony charge. Stay on top of your industry's news and laws.
Here are factual statistics about entrepreneurs:
*Entrepreneurs account for the majority of new job creation and innovation.
*Entrepreneurs who have no employees account for 75% of businesses in America.
*This past year, nearly 20,000 entrepreneurs grossed over $1 million in a home based business environment.
*On average, entrepreneurs make at least 25% more than the general population.--Experian, August 2006
*62% of entrepreneurs in the US claim "innate drive" as the number one motivator in starting their business.--Northeastern University's School of Technological Entrepreneurship, October 2006
*62% of entrepreneurs say they do not have a family member that is an entrepreneur.--Northeastern University's School of Technological Entrepreneurship, October 2006
*37% of entrepreneurs identify family members as the biggest inspiration in their life.--Northeastern University's School of Technological Entrepreneurship, October 2006*
42% of entrepreneurs say they launched their first venture during childhood (i.e. lemonade stand, paper route, etc.).--Northeastern University's School of Technological Entrepreneurship, October 2006
*49% of the nation's businesses are operated from home.--US Census Bureau, September 2006
*68% of business students are interested in owning their own business.--Collegiate Entrepreneurs Organization, July 2006
*More than 70% of early-stage entrepreneurs are already employed workers.--GEM, January 2006
*44% of small business owners say they love what they do and "cannot imagine" making a living any other way.--Open from American Express, May 2006
*69% of teens say they would like to start their own business; 25% saying they would like to start a retail business.--JA Worldwide Interprise Poll, September 2005
*65% of small business owners would tell a friend to start a business now, rather than wait a year.--MasterCard International, January 2006
As an entrepreneur, you must take on the qualities demanded of you to succeed and be willing to create success for others. The more you give, the more you receive. It is a fact of life. The founders of Nouveau Riche have put in place the highest quality support system for those who want to start their entrepreneurial career in business and real estate investing.
For more information and to get your questions answered about our education and getting started, please contact me in the Contact Us link in my blog.
Happy Investing!
Tony
