Actually taking those steps to starting your own business is far different than just saying you want to be a business owner. Not everyone can do it, there are extreme highs and lows that you’ll experience and there are certain things that only entrepreneurs can understand.

1. You are always thinking about work. Even on holiday

You are so passionate about your business that you’ll never switch off. Every sign you walk past, every conversation you hold there’ll be an idea buzzing around your head.

2. You understand that there is no reward without risk

Leaving behind a steady job to pursue life as an entrepreneur is a risk in itself and you understand that you’ll have to take more risks along the way to experience the considerable rewards.

3. You feel that people are always there to second guess your success

No matter how successful you are there will always be people who second guess your success and try to pull you down.

4. You understand that your loved ones share the load

The life of an entrepreneur is unpredictable and comes with a certain amount of stress. Your loved ones share these feelings and experience the same ups and downs as you.

5. You understand that you have to become a leader

Whether to lead yourself, employees or suppliers, you understand that you need to become a strong leader. The way to achieve this is through effective leadership development.

6. You’ll constantly be faced with people who just don’t get you

Entrepreneurs are unique. Our drive and determination isn’t something people will always understand.

7. You will never find it easy to fire someone

You understand more than anyone how important a regular income is. This is why you’ll never find it easy to fire someone, even if they deserve it!

8. You think that nothing ever happens fast enough

You want things done now and it can feel like suppliers and employees are just slowing you down.

9. You hate tax time

You never want to have to pay tax and getting your books in order is an unwanted task.

10. You will grow to love your accountant

You want to spend as little time on paperwork as possible and your accountant will help.

11. You are involved in every area of the business

You are the sales, marketing, finance and operations teams all rolled into one.

12. You know when a risk is worth taking

It can be scary but you know that a calculated risk could result in immense reward.

13. You are never ill enough not to work

Time is money and you don’t have time to be sick and take time off.

14. You will always think of wacky ways to motivate staff

A happy workforce is a productive workforce and you’ll work you hardest to motivate your staff.

15. You sometimes question your life

When things are tough you’ll think about going back to employment. 10 minutes later you’ll be an entrepreneur again.

16. You don’t have regular working hours

What’s a 9 to 5?

17. You always want to move onto the next big thing

Ideas are constantly flowing through your mind and you want to put them into practice ASAP.

18. You accept that some ideas are crazy

You’ll have 99 crazy ideas but understand that just one needs to be perfect.

19. You don’t do later. You want things done now!

Why would you put things off until later? You can wake up a little earlier and get extra work done now.

20. You constantly write down ideas

Whether it’s on an iPad or the napkin in a restaurant. If you have an idea you are going to make a note of it.

21. You never stop being an entrepreneur

Wherever you go, somehow you think about work.

22. You constantly promote yourself

Every new person you meet is a potential business contact and you’ll take advantage of that.

23. You never have enough money

Even if you are making millions, you’ll never have enough funding. Your next idea is always bigger than the last.

24. Your personal social media accounts are packed full of business stuff

You are so proud of your achievements that you’ll turn to social media to keep everyone informed.

25. You don’t fear failure

Failures just brings you closer to success and you are never afraid to fail. It’s the inner drive and sheer determination that sees you through and those are attributes that never leave.

26. You have no greater feeling than success

The chance to succeed and make something of yourself is what gets you out of bed in the morning. Furthermore, you visualise what you could become in the short/long term therefore that encourages you to accomplish great things.

27. You feel like you can conquer the world

When you achieve something you feel like you can do anything and that next achievement will always be bigger. The ambition is what focuses you and it’s the constant target that ensures you progress in your project and strive toward success.

28. You can struggle with love

Work will always come first and some people don’t get that, which can make it hard to find love. Prioritization can hurt other factors in your life –  but if you don’t prioritize then you’re not disciplined enough to succeed as an entrepreneur.

29. You are restless

You don’t sleep as much as you used to and if you take a few days away from work you are itching to get back. With the constant focus on success it’s very hard to switch off from work. Taking your work back home is also not an unusual thing for entrepreneurs.

30. You are determined

Entrepreneurs have something in their blood and even when times are tough, they wouldn’t be defeated.

Author: James Timpson
Source: http://www.stumbleupon.com/su/1zkqNa/www.lifehack.org/articles/work/30-things-only-entrepreneurs-would-understand.html/?_notoolbar&_nospa=true

Categorized in Business Research

Today, more people live in cities than in rural areas. This is of course a change from the 1800s and even the early part of the 20th century, when more people lived in the country. There are no signs of a slow-down in urbanization; in fact it's only speeding up. By 2050 total urban population is expected to reach a whopping 70 percent.

Humans are becoming increasingly connected wherever they live. CISCO claims explosive growth rates for IoT devices, saying that 25 billion of them are now connected to the Internet, with this figure rising to 50 billion in just 5 years. This is an ongoing trend that isn't all that surprising given our increasingly interconnected society.

How interconnected? Well, it starts with a pressing need. Experts say that in order to sustainably prosper while taking into account population growth and competing resources, cities will have to become smarter. This means that they will be increasingly reliant on IoT and digital systems to effectively meet citizen demand, reduce energy and other resource costs, as well as bridge the gap between citizens and governments.

A Snapshot of the IoT Ecosystem

There are hundreds of firms worldwide developing technologies and solutions to meet the needs of smart cities. For instance, dozens of companies are working to provide more efficient lighting and traffic planning to help pedestrians and drivers by computerizing those systems.

Enevo is an interesting IoT solution that is looking to turn waste collection into an internet and data-based process. It optimizes the logistics of collecting waste from trash containers.

Urban homes can directly benefit from IoT solutions that improve the connectivity of physical devices, making the whole more efficient than the sum of its parts. For instance, there are products that activate security alarms from a distance. Nest is a famous example of a home heating system that turns itself off at certain times in order to use less energy.

Singaporean-Australian IoT company Xped has introduced a smartphone-enabled IoT solution called ARDC that can be applied to physical home devices. Using an app on their smartphone, consumers can tap a chosen device and immediately control and operate it. The phone automatically discovers connected devices, finds a wireless network, and displays it on the user's interface. The company is currently in the process of listing on the Australian Securities Exchange.

Other IoT startups and established household names also work to provide solutions for cities both on macro and micro-level. Phillips, for instance, launched Lumimotion, a sensor-based lighting systems that is activated based on data collected from street activity.

The Path to IoT Success

Based on my research into IoT companies, if founders want to achieve success in the realm of smart cities, they will will need to keep a few things in mind. It all comes down to ease of use.

1. Seamless Onboarding Experience:

Devices will need to speak to each other so simply that connection must be an afterthought. Finding a new connected device should theoretically be as easy as tapping on a device that appears on a smartphone interface. Keeping such integrations as simple as possible will ease new users into the experience.

2. Support for Multiple Devices:

IoT solutions should be optimized to function across different devices. Since people will have an array of them, it's important for solutions to work across different types of items for simplicity sake.

3. User-friendly Systems:

Although we're talking about complex systems here, effective IoT tech should probably be managed by just one user-friendly control center.

Despite the hype, both established companies and emerging IoT startups must take into account security measures when looking to market their products in urban communities. Some experts are still skeptical of IoT because of this issue, saying a system so complex may be more trouble than it's worth. It will be up to IoT providers to convince users, both citizens and city governments, that their solutions are not only exciting, but also safe enough to satisfy user concerns about data privacy.

Disruptive IoT technologies have the power to be applied to seemingly unlimited devices and appliances. This will also have a huge impact on cities, especially given the presence of outdated systems that are in need of a major makeover.

Moreover, to truly meet the demands of a growing urban population competing for limited city resources, IoT has a huge role to play in transforming the way people experience urban living, from their homes, to the office, to everywhere in between. It will be interesting to see how this technology evolves to provide sustainable answers to pressing urban issues.

Source:  http://www.inc.com/john-boitnott/how-entrepreneurs-can-ride-the-internet-of-things-to-success.html

Categorized in Business Research


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