Natural selection, a business perspective?

Yack

Yack

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I was talking with someone about the mistakes it takes to become successful in business. We all rise and fall. You land a client, you lose a client. Learn lessons. So on.

He compared it to natural selection. Some people have the qualities it takes to be an entrepreneur ... some people don't. The challenges we face weed out those who don't have "it."

Over the past five years or so, I think I've quietly accepted some people don't have a good personality for it. It still seemed like a preference vs. an ability, so this kind of puts things in a different light.

What do you think?
 
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Yes in my experience your personality with help tremendously for your success as an entrepreneur. Some people are naturals, born with it, who start making money as teenagers (not talking about IG kiddies though). For them it is a no-brainer and a breeze. On the other hand some people hate it and they'd rather have a 9-5 job with a fixed salary and a fixed life. Maybe they tried, but their personality makes them hate any part of it, so if they try, they will either give up fast or fail fast.

Then for the rest, this is a learning curve, learn from your mistakes and move on. As with most human activities, it is a natural selection process, with the best reaching the top, and many who give up along the way.
 
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I just saw a TV show about this subject, they all fall and rise.

It`s a part of life.
 
I believe if one can fight with the toughest situations and understand and handle things with smartness as well as maturity can easily handle entrepreneurship.
No one had a course of entrepreneurship, it is their inside feeling and will to become an entrepreneur with occur naturally and also by curiosity.
 
Yack said:
Some people have the qualities it takes to be an entrepreneur
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Definitely agree. I dated a girl last year who quit her job at one point and decided to freelance like me. I did my best to give her pointers and get her started, but she just didn't enjoy it. She wanted the stability of a regular job, and wasn't prepared for the risk that comes with being your own boss.
 
Honestly as long as you're consistent and deliver quality you'll make it.
The biggest mistake is giving up, which a lot of people do since the need for instant gratification has increased nowadays.

Personally I know a bar owner who's making around 40K/month with his little pub while the ones around him have to close down.
It's all about consistency, personal branding & quality. You don't have to be a genius.
 
How many failures are because people just lacked experience and wanted to get straight into owning a business because they "don't want a boss"? Opening a restaurant and being the chef is going to be very difficult if you never worked in a restaurant before.
 
A few people have said something along the lines of this...

ExperimentalSEO said:
Anyone with normal intelligence and common sense can be an entrepreneur, its not anything complicated.
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If this is true, why do you think so many smart people try and fail?

lacifitra said:
The biggest mistake is giving up, which a lot of people do since the need for instant gratification has increased nowadays.
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Is this a "mistake" though, or is it something else? Are some of us capable of falling and getting back up in a way that others aren't?

Conor said:
Definitely agree. I dated a girl last year who quit her job at one point and decided to freelance like me. I did my best to give her pointers and get her started, but she just didn't enjoy it. She wanted the stability of a regular job, and wasn't prepared for the risk that comes with being your own boss.
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I've had this experience repeatedly with people in the last few years. They're smart and capable people who do outstanding when they're working for someone else, but working on their own just didn't click.

ExperimentalSEO said:
How many failures are because people just lacked experience and wanted to get straight into owning a business because they "don't want a boss"? Opening a restaurant and being the chef is going to be very difficult if you never worked in a restaurant before.
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I'm more curious about what happens when the restaurant fails. Some businesses just aren't a good fit for some areas, or competition is too good or whatever. How does someone react to that failure?

Are there business owners you know who would work for someone else if they weren't doing what they're doing already, or are they the type of people who would start a different business and keep working for themselves?

I don't know why I think this is so interesting. :p Thanks for all the input!
 
Yack said:
A few people have said something along the lines of this...



If this is true, why do you think so many smart people try and fail?



Is this a "mistake" though, or is it something else? Are some of us capable of falling and getting back up in a way that others aren't?



I've had this experience repeatedly with people in the last few years. They're smart and capable people who do outstanding when they're working for someone else, but working on their own just didn't click.



I'm more curious about what happens when the restaurant fails. Some businesses just aren't a good fit for some areas, or competition is too good or whatever. How does someone react to that failure?

Are there business owners you know who would work for someone else if they weren't doing what they're doing already, or are they the type of people who would start a different business and keep working for themselves?

I don't know why I think this is so interesting. :p Thanks for all the input!
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Being smart isnt everything it takes to be successful in entrepeneurship. You need to think rationally and be able to work independently, without someone telling you what to do. Those who are often considered smart are considered smart because they do great in school, university and later on their job (as an employee). Well, in all of those situations you dont need to be very independent, from as a kid to as an adult theyre told what to do. Thats (imo) why being smart isnt everything it takes to make it as a business person.
 
Aulig said:
Being smart isnt everything it takes to be successful in entrepeneurship. You need to think rationally and be able to work independently, without someone telling you what to do. Those who are often considered smart are considered smart because they do great in school, university and later on their job (as an employee). Well, in all of those situations you dont need to be very independent, from as a kid to as an adult theyre told what to do. Thats (imo) why being smart isnt everything it takes to make it as a business person.
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That is an EXCELLENT point!
 
Of course. That’s what business and competition is all about.

Your own viewpoint aside, competition in business helps the best to survive and ultimately allows the consumer to get the all around best (whether that means quality, cost, features or a mixture of all those things).
 
Yack said:
If this is true, why do you think so many smart people try and fail?
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Most of the smart people of fail try a shortcut to reach the destination and they do this coz they are lazy , may be they won't admit but this is the fact I observed.

Yack said:
Is this a "mistake" though, or is it something else? Are some of us capable of falling and getting back up in a way that others aren't?
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It is laziness to reach the target in a day and then work overload (the devil quick money), most of us lack in understanding our capacity. The people who fight back are industrious apart from being smart.


We all do business in different way, we all know that online world has made money making damn easy. But , still most of us after making money forget to serve better, we become arrogant and feel that we are the market king but there are many in the competition if you lose a client due to laziness, greediness or due to lack of knowledge in the field someone else will bag them.
 
Sales is a prime example.

People can do sales course after sales course and still be unable to sell ice cubes in a heatwave. Other people are born a natural salesperson, they have the 'gift of the gab'. Irrespective you get plenty of knockbacks before you get someone ready to sign up with you.

Sometimes you kind of make your own luck, sometimes that opportunity finds you. Being in the right place at the right time can be very eventful.

Quitters never win, but winners never quit.
 
davids355 said:
Your own viewpoint aside, competition in business helps the best to survive and ultimately allows the consumer to get the all around best (whether that means quality, cost, features or a mixture of all those things).
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I know this is supposed to work out in theory, but does it turn out that way in reality? So many people who offer wonderful services or develop outstanding products wind up going out of business for reasons that have nothing to do with the customer experience.

American Trends said:
Most of the smart people of fail try a shortcut to reach the destination and they do this coz they are lazy , may be they won't admit but this is the fact I observed.
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This is definitely true for some, even me at times.

most of us after making money forget to serve better, we become arrogant and feel that we are the market king but there are many in the competition if you lose a client due to laziness, greediness or due to lack of knowledge in the field someone else will bag them.
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Fantastic reminder. Looking back, the most successful business owners I know stay focused on quality in some way. It's never just about the money but being the solution to somebody's problem.

MisterF said:
Quitters never win, but winners never quit.
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Wonderful way to sum it up. :D
 
Work ethics (discipline) and the character to say no to instant gratification will get you very far.
Turns out very few people have these.
 
Extruser said:
Work ethics (discipline) and the character to say no to instant gratification will get you very far.
Turns out very few people have these.
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In general, I agree, but I'm not sure this is key to success in business. Some of the people I've seen struggle and fail have both. (And some successful businessmen seem to have neither!)
 
There are a lot of issues that people do not have control over that can make a particular business fail. Too much government regulation, high taxes, bad infrastructure and lack of labor.
 
Yack said:
In general, I agree, but I'm not sure this is key to success in business. Some of the people I've seen struggle and fail have both. (And some successful businessmen seem to have neither!)
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True. A little luck can help.
Being the right person in the right place on the right time...
Not being too smart often helps too. Smart people often overthink things and don't take action.
 
I personally, am not born as a natural business person, but I try everyday. I don't over stress it, just going with the flow. Met some people that work their ass of because they want to succeed in life, but nothing happens. In my opinion, everyone has to take it easy and enjoy the process, because most of the ideas I get, is when I don't even think about my business... the idea just pops up in my head.

As many of you said, luck also has a huge impact. With just a little bit of luck, if you ride it all the way, you can accomplish huge things. Sometimes you just have to wait for the right pieces to fall in the right place.
 
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