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3 P’s of Entrepreneurship: Passion, Perverance and Purpose

 

entrepreneur-1Passion is one of those qualities that rolls off the tongue when you’re talking about entrepreneurship; however, passion alone isn’t usually enough. If you only have passion you’re more susceptible to the emotional roller coaster ride of new venture creation. I would add two other “P’s”: Perseverance and Purpose. Going out on your own (or staying within your organization and going against the status quo) are not easy things to do. There are big risks – personal risks – associated with these kinds of decisions. You need to be able to push through the challenges that will inevitably arise. One way to do that is to focus on the “why” – why are you doing what you’re doing? Knowing and committing to the purpose of your endeavour will point you in the right direction – and you can make course corrections along the way. baby-boomer-entreprenturial-mindset

 

Here are a couple of resources to set you along your exploratory path:

Simon Sinek, in his book “Start with Why” says, “Very few people or companies can clearly articulate why they do what they do. When I say why, I don’t mean to make money – that’s a result. By why I mean what is your purpose, cause or belief? Why does your company exist? Why do you get out of bed in the morning? And why should anyone care?”

“Drive” by Dan Pink’s is a wonderful book about motivation, in which he argues that people are most engaged when they have autonomy, opportunity for mastery, and commit to a clearly defined purpose.

For something a little more applied, check out these three reflective questions from Tim Clark’s “Business Model You” that could help: 1) Think back to several times when you felt fulfilled. What were you doing? Why did it feel so good? 2) Name one or more of your role models. Who do you admire most and why? 3) How would you like to be remembered by your friends? 

The business parable “The Go-Giver” by Bob Burg and John David Mann, is a straightforward story with five “laws” about giving (rather than taking). For example, the first law is “The Law of Value” laws” about giving (rather than taking) defined as “Your true worth is determined by how much more you give in value than you take in payment.”

For more ideas about more fully developing your entrepreneurial mindset, to the April 13 episode of DJ and Da Bear: Keeping You at the Top of Your Game where we focus on, You, Inc: Honing Your Inner Entrepreneur with special guest M.J. D’Elia.

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Special thanks to M.J. for identifying the resources in this blog post!

DeEtta Jones

DeEtta Jones is an invited speaker, equity, diversity and inclusion strategy consultant and author with more than twenty years of experience working with people from around the world to on personal effectiveness and building workforce capacity.

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