The Best Business Podcast: Finding The Right Purpose To Survive Entrepreneurship
Ryan Crownholm, Serial Entrepreneur, Deal Maker, Efficiency Expert
The right purpose will bring you far. According to statistics, approximately 20% of new businesses fail during the first two years of being open. 45% fail during the first five years, and 65% during the first 10 years. Your purpose will determine how long you will last. In times of hardships, entrepreneurs will be tested and only a few will move forward.
In this episode with Ryan Crownholm, we will learn the right steps and the right purpose for becoming a successful entrepreneur.
Find What Sparks The Creativity Within You
A creative spark is an intangible talent or method that allows an individual to create significant non-obvious value at a point in time. Most entrepreneurs discovered this during their employment days; this can be part of the reason to want to start a business. They found what sparked their creativity and they wanted to create something that they like. This is the freedom that David always talks about, the freedom to do it in your own business. The sky's the limit because you are your own boss and you make your own rules. Most amazing things created in life are those that are from people's sudden creative moments.
There are many ways to spark that creativity. One is by learning to identify and prioritize your creative intuition. Intuition is generally understood as instinctive knowledge — a gut feeling about something without knowing why. Or you could designate creative time and space. Another method is to reflect on your life themes and truths. Lastly, always remember to stop overthinking, and just start.
Becoming Your Own Boss
You’ve spent years working, day after day, at jobs that left you feeling uninspired, unfulfilled, and tired. You’re ready for a change. You want to be in charge of your own future. You want to have control over your days, and work on something you are passionate about and truly enjoy. You want to become your own boss.
Every entrepreneur has a story to tell but one common thing about them is they want freedom. financial freedom, schedule freedom and full control of their own company, and it doesn’t require a degree. Did you know that about 30% of entrepreneurs only finish high school, 31% have an associate degree, 17% have a bachelor’s degree, 18% obtained a master’s degree, and 4% have a PhD.? A solid education can give you skills and connections that may definitely help you make strides with your business ventures, but a college degree isn’t a necessity for getting ahead or starting on your own adventures in entrepreneurship.
Start a Business For The Right Reasons
Every entrepreneur desires to succeed and only a few understand that it boils down to the purpose. David said, “If you’re going to have a business just for the sake of making money, it’s the recipe for failure.” David is talking about entrepreneurs being trapped with money. Money should be the by-product of the value you give to people, and giving value is always the right purpose in starting your own business.
When you focus on giving value first, customers and clients will always come. The value-centric company creates value before asking for money. The operative questions are:
“How do I create products, solutions, and systems that enhance the quality of life of my client/prospect?"
“How can I give more value to my client/customer?”
If you start your business with these questions, you are heading toward success in your business. Every successful business has answered these questions, and money can only be created through value.
Every Recession Comes With A Silver Lining
Opportunity is everywhere, you just have to look for it and pivot. Not all entrepreneurs can look at things positively when things are not going too well. It may be out of greed or pride, but when you try to look for opportunities in those rough times, it can be a game changer. A lot of amazing opportunities are seen during those recessions, and a lot of amazing products and services are invented because of those rough times. We need those rough times in life, especially for entrepreneurs, because it is where you can also prove your leadership and creativity. A recession may present new gaps in the market waiting to be filled. Keep your eyes open and nurture a positive mindset, and the difficult times can bear you fruit.
“One of the most important questions you should ask yourself is, what are you really looking for?”
🎧 Listen to the Podcast 🎧
Ryan Crownholm’s Social Links:
