Entrepreneurship is generally recognized by society as taking complications and creating opportunities out of them by actively carrying out a proposed mission. In turn, society benefits from new products, goods, or services in a more efficient and/or effective way. However, entrepreneurs are often confronted by various negative and criticizing influences, especially within the entertainment industry. Can entrepreneurs be successful then in such a competitive market? The difference is whether you are a dreamer or a true entrepreneur. An entrepreneur can be successful with the right attributes, networking professionalism, and strategic plan of specific goals.Attributes of EntrepreneursEntrepreneurs are a distinguished class of people based on their significant attributes, mindset, and drive. Entrepreneurs are not dreamers. The difference from being a dreamer is that an entrepreneur is alert about societal issues and actively, not passively, creates opportunities out of them. The cognitive style of entrepreneurs tends to be more intuitive and less analytical than non-entrepreneurs. Studies show that more intuitive entrepreneurs exhibit higher levels of drive towards entrepreneurial behavior. This tenacity is conveyed from the unique characteristics that entrepreneurs hold, such as the desire for responsibility, immediate feedback, and being highly organized and conscientious. They are able to visualize towards the future and value achievement over money.
The Role of Entrepreneurial Networking
Entrepreneurs believe in the significance of building strong social and business networks. Sure, everyone is part of a particular network, but entrepreneurs use these networks effectively to explore opportunities and exploit business. Social networks potentially generate business relationships where exploration is facilitated. This often leads to exploitation to enter certain markets. Social networks may also be created from formal business networks as well. These networks become great sources of knowledge and resources, enable the processes of exploration and exploitation into markets, and create the sense of creditability and validity.Strategic Planning and GoalsFormulating a general business strategy, after identifying the problem that an entrepreneur is trying to tackle and/or change, starts with setting specific goals. These goals shall connect to the core values of the entrepreneur. And these core values are relevant to the mission statement the entrepreneur has created. They guide and drive the entrepreneur to attain goals by making them difficult but achievable, observable and measurable, and specific with target dates. The entertainment industry is full of opportunities and challenges, but it is often that entrepreneurs see the opportunities yet fail to assess the challenges. Being completely focused on your business mission and avoiding random acts of improvement are vital to successfully completing your goals. Entertainment entrepreneurship is becoming more popular today and many opportunities are out there. Yet, this territory comes with negative influences and criticism. However, evidence proves that if an entrepreneur has the right attributes, networking professionalism, and business strategy, they can be successful. As generations pass by and the entitlement mentality of the Industrial Age dissipates, more people in the entertainment field will need to have an entrepreneurial mindset and expand their creativity as people become successful at younger ages.Please follow us on Facebook, Instagram, and Twitter today!
