Starting Your Own Business
We have all sat there and wondered if we have got what it takes to start our own business. To make it on our own and become our very own boss.
And the truth is entrepreneurs come in all shapes and sizes.
There are some who are full of big ideas and are willing to plough thousands of dollars into risky project. And then there are other more subtler entrepreneurs who prefer to work in the background and take smaller risks to experience bigger results.
Now you might be thinking that these classifications are so broad that anyone can become an entrepreneur and it is true that with the right training you can. But there are a few things that all successful entrepreneurs have in common:
• The desire to become their own boss
• The drive and enthusiasm to implement their own ideas
• The thirst to take control of their own destiny
• The determination to persevere even when things get tough
Now if you are genuinely interested in becoming an entrepreneur, then you seriously need to take into consideration the following characteristics. You may feel like an entrepreneur, but have you got what it takes to make it work?
No business is smooth sailing. You will always be confronted by problems that will need you to spend some time troubleshooting, pinpointing the problem and resolving them. It is a sad fact, but that is the reality of being an entrepreneur.
In truth it would be a rare story to come across an entrepreneur whose business is puzzle free. If it was that simple then we would all be entrepreneurs.
Creative and Persuasive
It is often said that to be an entrepreneur you need to be a visionary; that you have to have the creativity, the selling skills and the persistence to be able to persuade others: to lend you money, work longer hours, invest in new products and sell your products on favourable terms.
Without this strong desire to promote your company, product/service or new ideas, you cannot inspire others to be committed towards this visionary path and get excited.
Your average entrepreneur is impatient, full of energy and is constantly thinking about how to improve their business – and this all stems from their desire to translate all their skills, experiences and knowledge straight into their business.
It is an undeniable fact that without motivation you cannot hope to succeed in getting your business off the floor. You need to have this impatience, this desire to run your ideas otherwise your business will fail.
The best entrepreneurs are successful because of the business skills, know-how and contacts they push into their business. They are aware of their talents, who are their best networks and which of their experiences are more valuable, and they have put taken action.
As an entrepreneur you need to make the same assessments – what can be transferred into your business idea? Will they work? If they won’t, what else can you do? Without questioning yourself and what is possible, your business will never pass its first stages.
A successful business cannot be launched overnight. You need to be prepared to put in the time, the effort and the research to make sure your knowledge of the industry is fully transferred into your business plan.
Only once you are confident that you have done everything in your power to succeed can you comfortably take the next step.
Can I be an entrepreneur?
Ask an entrepreneur and they will tell you that setting up your own business is not for the faint of heart.
Over 80% of all new businesses fail within the first 5 years - a daunting figure for any prospective business – yet these failures have occurred not through lack of experience. For many it has simply been down to making the transitional step from employer to entrepreneur.
You see, not everyone is cut out to be an entrepreneur, so you need to ask yourself honestly: have you got the passion, the motivation and the creativity to see it through? If you have, then there will be nothing stopping you.