ENTREPRENEUR

The Characteristics of a $1 Million Entrepreneur

Women business owners are critically important to the American economy. The growth of women entrepreneurs in the United States has been phenomenal. Statistics from the SBA indicate that 9.1 million women own businesses, they employ 27.5 million people and contribute $3.6 trillion to the economy. These women are shaping and redefining the workplace, the nation's business networks, financial institutions, and the US culture.

These entrepreneurs who are the CEOs of their million dollar companies or empires all possess those highly developed, well-defined skills sets that have taken their company from ordinary to extraordinary.

All successful entrepreneurs possess one fundamental ability, one fundamental quality, one fundamental skill, and one fundamental interest which are the ability to perceive the world as a variety of systems. A systems thinker is one who sees the whole of a thing, the entirety of it, the one-ness of it, the integrated unity of it, as opposed to merely the sum of its parts.

A systems thinker 1) transcends the world in order to transform it; 2) is an inventor as opposed to an engineer, 3) sees purpose in everything; 4) sees the system as the realization of the purpose; 5) sees meaning in everything and, if not, pursues everything until the meaning becomes clear or until the system reveals itself in all its glory and 6) is motivated by the meaning of things. Million dollar entrepreneurs do not see their business as a group of people doing work; they see it as business systems operated by people. The systems do the work, and people operate the systems. All great entrepreneurs are systems thinkers. Your business should be systems-dependent, not people-dependent.

With no systems in place, your business depends on you and a few people who run things for you. If you are

absent for a short time, your business is thrown into chaos. With the right systems in place, the systems run your business, and your people can run the systems. If you have the right systems in place, you can decide suddenly to take a two-month vacation, and your business would not miss a beat. If you have the right systems in place, your key employees could suddenly quit, and you could replace them easily with no ill effect on your business. With the right systems in place, you can work every day in your business—or not.

Systemic thinking is second nature to successful entrepreneurs, and it's the real secret behind building a business that works. All who wish to become great entrepreneurs need to learn how to become a systems thinker; or more accurately, develop an innate passion for seeing things whole and transcending the world (your world, their world, our world, and all worlds).

Successful entrepreneurs typically have a number of similar skills and characteristics that have taken them to million dollar status. You may find some of the points below to be obvious but a periodic review of these million dollar skill-sets are a great way to spark or jump-start your business to million dollar status.

1. Think Success – Think Success - and – Think Success
2. Find a need, determine a niche and supply the need to the niche
3. Differentiate your product(s) and service(s)
4. Be passionate about what you do
5. Think smart, think big, plan for success and never stop learning
6. Be innovative and creative
7. Focus on your strengths and implement a plan to minimize your weaknesses
8. Never consider the possibility of failure
9. Work hard and plan accordingly
10. Constantly network; continue to look for innovative ways to network and get to

know the

people that can help your business grow
11. Develop excellent planning and problem solving skills
12. Remain disciplined, persevere and have faith
13. Strive for an impeccable reputation, maintain integrity and always follow through
14. Learn to Listen - Listen - Listen

In a recent article, a 21 year old who is half-way to becoming a million dollar entrepreneur said that he lives by these rules: 1) always be prepared (if you fail to prepare, prepare to fail); 2) be creative; 3) go big and 4) never stop trying.

If becoming a million dollar entrepreneur is your dream, dream big and start the journey today.

© 2006 All rights reserved Dr. Laureen Executive Business Strategist & Non-Profit Expert Masterpiece Solutions LLC www.masterpiecesolutions.biz Email: drlaureen@drlaureen.com (281) 584-0348 Phone (281) 584-0355 Fax (888) 813-5583 Toll Free

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