The Entrepreneurs’ Economy

Here are 7 ways that entrepreneurs flourish in what conventional business calls a bad economy. Recessionary times are great times if you are an entrepreneur, defined by the willingness to go against the grain.

1) Take advantage of Technology. The low cost of technology is a big enabler for entrepreneurs. Entrepreneurs use technology as a business tool. Are you taking advantage of technology or is technology taking advantage of you?

2) Take advantage of self-education. The free flow of information is a bonanza for entrepreneurs. They are voracious readers and listeners. Successful entrepreneurs plug into the right source of information. They pay attention to the information coming from those that have results in life. They are hungry, humble and willing to learn and apply new ideas. Are you reading at least two great books every month?

3) Take advantage of the long term picture. Conventional businesses became so short term, next quarter focused. Entrepreneurs have discipline and they are creative, accountable, and willing to delay gratification. They think their own survival is at stake not that of their boss or employer. Do you have a clear vision for where you are going?

4) Take advantage of opportunities to serve. Entrepreneurs find unmet needs and fill them with great service. Entrepreneurs look at service as their calling. Big and old businesses over time becomes dull, boring, and unfriendly. How good are the quality, quantity and attitude of the service you are providing?

5) Take advantage of fear. Entrepreneurs use the fear of the unknown as an indicator of what to do next and they convert initial rejection into positive energy. They see a mile and walk a mile. They have faith that the big picture is being revealed to them during their journey. Are you taking action despite of the fears of the unknown?

6) Take advantage of failure. Entrepreneurs expect failures and they learn from them. They learn their lessons and bounce back fast and ferocious. Entrepreneurs fail forward going from failure to failure without losing their passion and purpose. Have you conquered the fear of failure yet?

7) Take advantage persistence. Entrepreneurs have the will to finish what they start. They are willing to make all the adjustments needed to win. They become comfortable doing what is uncomfortable to most people and they do it by repeating a proven process. What separates entrepreneurs from the rest is the ability to fine tune their game, to work on their imperfections. Do you have the will to finish what you have started?

This economy needs more entrepreneurs. Do you have the courage to become one? If so, welcome to the club, to the community who will make life better for others!

Be blessed and be a blessing to others!

Carlos Fontana, President of Phalanx

Co-author of the book Follow to Lead (The 7 Principles to Being a Great Follower)

Author of the book PRICELESS (Sixty-Six Simple Stories of Reflection, Love, and Legacy)