Monday, January 19, 2009

Illusionary Thinking

"Is it a good idea to start a business during a recession"?

That was the question put forward during a class last week from a would-be entrepreneur, trying to decide whether the dream of starting her own business is worth pursuing.

Forget about the answer for a moment.

Personally, I am not sure she was asking the right question.

People have many reasons to be motivated to start a business, but TSB has noticed over the years that successful entrepreneurs are especially driven. Here’s why. For them, it’s not just a job that’s on the line; it’s everything. Livelihoods and families are at stake. Far too often, people who say they want to own a business are really saying they want to own an already successful business; their illusions fired by the thought of the prize as opposed to the process.

So in search of the better question, we embarked on a YouTube journey that began with a guy who knows at least a little bit about what it takes to be an entrepreneur ... Donald Trump.

Success guru Brian Tracy also weighs in with this insight into entrepreneurship:

And see if you notice how a certain pattern develops from this collection of top business people in the U.K. offering their advice to entrepreneurs:

Passion is the ultimate driver for true entrepreneurs.

They put passion into everything.

It’s a magnetic quality that doesn’t just motivate them to get to work, it persuades — and even inspires — others to want to work with them. Playwright Neil Simon once quipped: “If no one ever took risks, Michelangelo would have painted the Sistine floor.”

What kind of person would it take to launch an entrepreneurial venture during the height of a recession?

Is that a better question to be asking?

Or, are we missing something here?

"Experience taught me a few things. One is to listen to your gut, no matter how good something sounds on paper. The second is that you're generally better off sticking with what you know. And the third is that sometimes your best investments are the ones you don't make" DONALD TRUMP

NOTE: The Sistine Chapel is located in the Palace of the Vatican, the official residence of the Roman Catholic Pope in Vatican City. It was built between 1475 and 1483, in the time of Pope Sixtus IV, and is one of the most famous churches on our planet. Michelangelo Buonarroti was commissioned by Pope Julius II in 1508 to paint the ceiling with the work completed between 1508 and November 1, 1512. He painted the Last Judgement over the altar, between 1535 and 1541, being commissioned by Pope Paul III Farnese.

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