Cooperative Entrepreneurs – Benefits of Collaboration

Now you already know how entrepreneurship is important. Small and medium enterprises are the main contributors to economic growth. These companies are mostly owned by entrepreneurs.

When a entrepreneur starts working on business ideas, he is optimistic that the discovery of ideas or business opportunities will succeed. This is because he has conducted a detailed investigation of the idea and therefore he believes his profitability.

By the way, will you explore alone as an entrepreneur or will you collaborate with other entrepreneurs?

There are people who will not have the guts to become entrepreneurs. Some reasons according to them as below:

1.) Entrepreneurship is not a career for life.

2.) Someone is always disturbed by fear of failure.

3.) Someone always lives on the edge because of the low profit or loss.

4.) Entrepreneurship is not sure. Because of technology changes, business ideas or opportunities can become obsolete. Examples are Kodak films that are replaced by digital cameras.

Before you decide to become an entrepreneur, you must be psychologically prepared to face all the thoughts that interfere with worries caused by disappointment. This disappointment occurs at any time. They don’t happen because you are negligent or not working hard and smart but they are carried by internal and external factors. Some of these factors, especially external, are beyond human control. If you are psychologically ready, you will know how you will continue to walk without doing something stupid.

Psychologically prepared includes knowing that not everyone will welcome your business ideas. You prepare yourself that you might end up with the wrong impression to be a loser and lack of direction in life. It is a fact that it is easier to attract many people in your life when you succeed than when you fail, maybe it is human nature and the law of interest that plays its role.

This article will not discuss the external and internal factors but discuss about two or more entrepreneurs who collaborate.

There are many types of entrepreneurs, namely:

1.) Social Entrepreneurs.

2.) serial entrepreneurs.

3.) Lifestyle entrepreneurs.

4.) Cooperative entrepreneurs.

It’s not always that it is a single entrepreneur who can roam in business opportunities. Two or more entrepreneurs can gather to work as a team to make business ideas successfully. This mainly occurs when a entrepreneur has a new idea or starting a business that is cooperative and requires a variety of skills or a large number of capital. One entrepreneur will not be able to provide all the necessary skills or the amount of capital needed to run and finance all new / project business ideas so he must work with other entrepreneurs.

Before you decide to collaborate with other entrepreneurs, you must be careful because if you collaborate with the wrong entrepreneur, you will end regret. Business ideas may be stuck in terms of growing progress or growth may be very slow.

Things to consider before collaborating with other entrepreneurs

1.) Willingness to take risks.

2.) Creativity and skills needed to run business ideas / opportunities.

3.) Ability to contribute the amount of capital needed. How benefits, losses and responsibilities / work must be shared.

4.) Able to work hard and organizational capabilities.

5.) Patients, consistent, perseverance and able to overcome setbacks.

6.) Self discipline and encourage teamwork.

7.) Ability to make decisions quickly.

8.) self motivation and able to motivate others.

9.) Always focus and be able to work with minimum supervision.

10.) Confident and able to stay firm in decisions made.

11.) There must be guidelines for taking care of problems such as the death of an entrepreneur, etc.

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