Michael Newman’s latest é-Wealth Daily’ article is titled “Picking the Right Business for Success”. [‘e-Wealth Daily’Article]

Michael Newman’s latest ‘e-Wealth Daily’ article:

Picking the Right Business for Success

When people start thinking about starting up their own business, they often look to current trends or innovative ideas that have made other people rich. They look at people like Steve Jobs, Bill Gates, and Mark Zuckerberg and feel like that, if they want to get rich, they have to develop something similar. After all, the success of these gentlemen clearly proves that people want what they’re selling.

Of course, there is another element that many people often forget. They tend to overlook who they are, what their personality traits are and what kind of business and work environment would truly make them happy. Instead, they choose to subscribe to the “monkey see, monkey do” mentality.

It’s been proven that oftentimes the most successful entrepreneurs are such because they’ve elected to involve themselves with businesses that make them happy. They pick industries that allow them to utilize their skills and enjoy their work. They are passionate about what they do, and value the progress of their business and the services they provide more than the money they earn. For example, Steve Jobs’ official
salary from Apple is $1.00.

If you’re struggling with finding the right business idea, or are an entrepreneur who just can’t seem to experience the success they’d envisioned, it may be time to start looking somewhere other than the news or the business pages for inspiration; maybe you should look in the mirror.

Sure, there are common personality traits that are often held by successful entrepreneurs. They’re typically leaders, risk-takers and dominant, headstrong individuals. The reason why so many of them are this way is that they are passionate about their business/product and truly believe in it with everything they have. This belief in their business translates to a belief in themselves that gives them the confidence to achieve success
in an often hostile arena.

Of course, many people aren’t the overconfident, risk-loving type. Most of the population is rather conservative, reserved, and more willing to take life as it comes. These people, too, can become successful entrepreneurs.

No matter what kind of person you are or what personality you have, there is likely a perfect business opportunity out there for you. You just need to determine who you are, first.

When you find out what your personality traits are and what your true interests and passions are, you can start thinking about business opportunities that appeal and match up to them. Perhaps you can go at it alone; perhaps you can’t. If you can’t because of a lack of interest or knowledge in a particular area of the business — finance, for example — then consider partnering up with someone you feel is right for the job.

Bill Wagner, CEO and Co-Founder of Accord Management Systems, recently wrote on Entrepreneur.com that no matter what your interests are or what kind of individual you are, you’re likely either a generalist or a specialist. A generalist is typically someone who looks at the big picture and is often comfortable with their abilities in a number of areas. They are willing to get out there and take risks on their own. They believe in themselves and their decision-making, and let that confidence guide them.

A specialist is quite different from a generalist. A specialist is someone who has a particular area of expertise that they specialize in, and they like to keep their energies focused on that task. They are excellent team players because of their belief in a systematic way of doing things — you do your job, I’ll do mine. They pay attention to detail and are more interested in stability as opposed to taking big risks.

Both of these groups can then be further divided into different categories, because there is no such thing as a one-size-fits-all approach to anything.

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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