Have you ever wondered if you have what it takes to start your own business? Yeah, me, too.
Starting your own business can be an exciting and rewarding experience. It can offer numerous advantages such as being your own boss, setting your own schedule, and making a living doing something you truly enjoy. But, becoming a successful entrepreneur requires many things.
Consider whether you have the following characteristics and skills commonly associated with successful entrepreneurs:
Are You a “Smart Creative”? Are you able to think of new ideas? Can you imagine new ways to solve problems? Entrepreneurs must be able to think creatively. If you have insights on how to take advantage of new opportunities, entrepreneurship may be a good fit.
Are You a Calculated Risk Taker? Being your own boss also means you’re the one making tough decisions. Entrepreneurship involves uncertainty. Do you avoid uncertainty in life at all costs? If yes, then entrepreneurship may not be the best fit for you. Do you enjoy learning about the opportunities available and obstacles you might have to overcome so you can enjoy the thrill of taking calculated risks? Then read on.
Are You Independent? Entrepreneurs make a lot of decisions on their own. If you find you can trust your instincts — and you’re not afraid of rejection every now and then — you could be on your way to being an entrepreneur.
Are You Personable and Socially Persuasive? You may have the greatest idea in the world, but if you cannot persuade customers, employees and potential lenders or partners, you may find entrepreneurship to be challenging. If you enjoy public speaking, engage new people with ease, and find you make compelling arguments grounded in facts, it’s likely you’re poised to make your own new business succeed.
Are You an Effective Negotiator? As a small business owner, you will need to negotiate everything from leases to contract terms to rates to getting employees and others to do what you want when, where, why, and how you want it done. Polished negotiation skills will help you save money and keep your business running smoothly.
Are You Open To Being Supported By Others? Before you start a business, it’s important to have a strong support system in place. You’ll be forced to make many important decisions, especially in the first months of opening your business. If you do not have a support network of people to help you, consider finding a business mentor or consultant. A business mentor is someone who is experienced, successful, and willing to provide advice and guidance. Business consultants do the same thing professionally, meaning they expect to be paid for their services. If you are buying a franchise in order to start your own business, then your franchisor should be a major component of your support team.
Do you think you have what it takes to start your own business?