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9 Characteristics of Spirited Entrepreneurs

9 Characteristics of Spirited Entrepreneurs

Millennials have a new view of the world and it is causing us to expand how we look at entrepreneurship. The traditional definition centers around the goal of making money. The new definition uses the same methods, but with a different end goal in mind. We’re beginning to recognize entrepreneurship as a means to bring value to those who need it. Here are nine characteristics of spirited entrepreneurs.

1. They think of doing the thing first and making money second.

Spirited entrepreneurs are excited about what they are creating and the good that will come from it. They are driven to make a difference in the world and positively affect people’s lives. They also make money, but that’s not the primary goal. When they begin to make money from their entrepreneurship, they might say, “Oh, that’s cool, too.”

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2. They leverage their social networks to gather support.

Business is and always has been about relationships. There are relationships with customers, advertisers, suppliers, complimentary businesses, governments, neighbors and other stakeholders. Today it is easier than ever to build and nurture those relationships by leveraging the power of social media. Spirited entrepreneurs leverage social media to gain support for the good they want to create with their entrepreneurial venture.

3. They believe that business exists to create value in the world.

As long as human beings have traded goods and services, there has been a thing called “business.” We trade goods and services for the betterment of our lives. For example, Patagonia makes coats so people will stay warm while they are doing fun and exciting things, and they do it in a way that is environmentally and socially responsible. Spirited entrepreneurs put this idea of creating value in a responsible way at the forefront of their business instead of making money.

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4. They believe there is strength in numbers.

Nobody does anything meaningful by themselves. Spirited entrepreneurs are obsessed with leveraging the power of the resources that others offer to create their business. They use crowd funding and other social sharing or community-building technology to get their businesses off the ground. They know that in order to accomplish their mission, they have to find and leverage talent.

5. They want to actually make a difference.

Spirited entrepreneurs don’t want to just do something that looks good. They want to do something that actually makes a difference. They aren’t just looking for positive press or a pat on the back. What they are doing has to create the value they set out to create. Spirited entrepreneurs know they must measure the impact they are having to ensure they are doing the good they intended.

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6. They believe they have something to add.

They believe their background, experience and perspectives are valuable. Spirited entrepreneurs don’t want to keep their knowledge and experience to themselves; they want to share it with the world because they know it is valuable and will help people.

7. They get their facts together.

Never in the history of humanity has information been more easily available than it is now. Spirited entrepreneurs know that information is power, so they get as much power as they can by gathering as much information as possible. They leverage their network, social media and the Internet to gather facts about their customers, competitors and industry.

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8. They think we need more things like Airbnb, Uber, and Boatbound.

Spirited entrepreneurs are all about connecting people who have resources with people who need them. The new sharing economy allows people to have access to things without the burden of owning them. Connecting the resources with the people who need them requires innovation, and spirited entrepreneurs are eager to figure out better ways to accomplish this goal.

9. They share a bold expectation of leaving the world in a different state than they found it.

Spirited entrepreneurs aren’t just out to make money. They know they have a limited amount of time on this planet and that time is the only asset of real value they will ever possess. Because of this, they use their time to accomplish something meaningful and the method they have chosen is entrepreneurship.

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Last Updated on December 1, 2020

How to Find Your Entrepreneurial Passion and Purpose

How to Find Your Entrepreneurial Passion and Purpose

I wrote a few articles about starting a business based on something you love doing and are passionate about. I received several responses from people saying they weren’t sure how to go about figuring out what they were most passionate about or how to find their true purpose. So I’m dedicating this article to these issues — how to find your entrepreneurial passion and purpose.

When I work with a new client, the first thing we talk about is lifestyle design. I ask each client, “What do you want your life to look like?” If you designed a business without answering this question, you could create a nice, profitable business that is completely incompatible with your goals in life. You’d be making money, but you’d probably be miserable.

When you’re looking for your life purpose, lifestyle design isn’t a crucial component. However, since we’re talking about entrepreneurial purpose, lifestyle design is indeed crucial to building a business that you’ll enjoy and truly be passionate about.

For example, say you want to spend more time at home with your family. Would you be happy with a business that kept you in an office or out of town much of the time? On the flip side, if you wanted to travel and see the world, how well could you accomplish that goal if your business required your presence, day in and day out, to survive? So start by getting some clarity on your personal goals and spend some time working on designing your life.

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At this point, you may need a little prodding, and you may want to hire a coach or mentor to work with you through this process. Many people are very used to the idea that there is a particular way a life “should” be. There are certain milestones most people tend to live by, and if you don’t meet those markers when or in the manner you’re “supposed” to meet them, that can cause some anxiety.

Here’s how to find your passion and purpose:

Give Yourself Permission to Dream a Little

Remember that this is your life and you can live it however you choose. Call it meditation or fantasy, but let your imagination run here. And answer this question:

“If you had no fears or financial limitations, what would your ideal life, one in which you could be totally content and happy, look like?”

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Once you’ve figured out your lifestyle design, it’s time to do a little more soul-searching to figure out what you’re truly passionate about. This is a time to really look within and look back.

Specifically, look back over your life history. When were you the happiest? What did you enjoy doing the most? Remember that what you’re looking for doesn’t necessarily have to be an entire job, but can actually be aspects of your past jobs or hobbies that you’ve really enjoyed.

Think About a Larger Life Purpose

Many successful entrepreneurs have earned their place in history by setting out to make a difference in the world. Is there a specific issue or cause that is important to you or that you’re particularly passionate about?

For some, this process of discovery may come easily. You may go through these questions and thought experiments and find the answers quickly. For others, it may be more difficult. In some cases, you may suffer from a generalized lack of passion and purpose in your life.

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Sometimes, this can come from having suppressed passion in your life for too long. Sometimes, it can come from eating poorly and lack of exercise. But occasionally, it may have something to do with your internal chemistry or programming. If the latter applies to you, it may be useful for you to seek help in the form of a coach, mentor, or counselor.

In other cases, not knowing your true purpose may be a matter of having not discovered it yet: you may not have found anything that makes your heart beat faster. If this is the case, now is the time to explore!

The Internet is a fantastic tool for learning and exploration. Search hobbies and careers and learn as much as you can about any topic that triggers your interest, then follow up at the library on the things that really intrigue you. Again, remember that this is your life and only you can give yourself permission to explore all that the world has available to you.

How Do You Know When You’ve Found Your True Entrepreneurial Purpose?

I can only tell you how I knew when I had discovered my own — it didn’t hit me like a ton of bricks. Rather, it settled over me, bringing a deep sense of peace and commitment. It felt like I had arrived home and knew exactly what to do and how to proceed.

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Everything flowed easily from that point forward. That’s not to say that I found success immediately after that moment. But rather, the path ahead of me was clear, so I knew what to do.

Decisions were easier and came faster to me. And success has come on MY terms, according to my own definitions of what success means to me in my own lifestyle design.

Dig deep, look within, and seek whatever help you need. Once you find that purpose and passion, your life — not just your entrepreneurial life, but your entire life — will never be the same.

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Featured photo credit: Garrhet Sampson via unsplash.com

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