The Entrepreneur and the Gymnast
In many ways, an entrepreneur is not unlike a gymnast. The act of balancing is critical to each and every one of his/her performances. The gymnast must counteract the forces of weight and motion. Likewise, the entrepreneur must also balance the distribution of his/her time and resources. Without the ability to adequately balance the elements of weight, motion, time, and resources, the entrepreneur and the gymnast would be hard-pressed to succeed in their particular endeavors.
An entrepreneur must seize opportunities and minimize risks. To accomplish these tasks, the entrepreneur must clearly specify the objective of his/her business venture or project, and identify the internal and external factors that are favorable and unfavorable to achieve that objective.
An effective tool that assesses and identifies opportunities and risks is a SWOT analysis. A SWOT analysis is a strategic planning tool used to evaluate the strengths, weaknesses, opportunities, and threats involved in a business venture or project. Once a clear objective has been identified, a SWOT analysis can be highly effective in the pursuit of the objective.
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