Are you ready to be an entrepreneur? Many people want to and can start their own business, but not everyone has what it takes to succeed! Whether true entrepreneurs are born or taught is uncertain, but there are specific traits that successful entrepreneurs all possess! Really, the question should not be whether being an entrepreneur is right for you but, rather, are you right for entrepreneurship? Can you handle the stress, the ambiguity, the lack of structure, the uncertainty, and the sea of opportunities that await, if you decide to start your own business? Ask yourself these questions, and see if you have what it takes.
- Do you have a big enough ego? Are you your own (and your businesses) biggest fan? If you don’t believe you’re one of the best at what you do, no one else will either.
- Are you disciplined enough to set work hours, meet deadlines, and pursue new clients without getting distracted by TV, the great outdoors, or sleeping late?
- Are you a mind reader? Ok, maybe not a real mind reader, but are you willing to ask questions to ensure that you understand what exactly your client wants and that you are meeting your expectations?
- Are you willing to live within even below your means? Running your own business is rife with financial ups and downs – entrepreneurs are willing and able to cut back, sometimes way back on spending.
- Are you motivated, day in and day out to work to growing your business? Entrepreneurs don’t spend idle time watching tv, putting off work, and missing due dates. The faster you finish a task, the faster you can move on to the next one, which means more money in your pocket. And, beating, not just meeting a deadline instills confidence in your clients that you can be relied upon. Of course, this doesn’t mean you can sacrifice quality! You need to be able to get as much done as you can in a day, you never know what tomorrow will bring!
- Have you been practicing your yoga? A true entrepreneur has to be flexible, and able to create balance. Entrepreneurs have an uncanny ability to rearrange business and work schedule to accommodate clients’ requests while still finding a work/life balance for themselves. All work and no play does not an entrepreneur make.
- Are you an “honest Abe” or “snakey Sam”? Honest and integrity are crucial to maintaining your reputation and that of your business. Entrepreneurs realize that they are the public face of their company and ensure that everything they do reflects well on their business.
- Are you an accountant in the making? Anyone can send out invoices, but it takes a certain breed to follow your daily cash flow. Entrepreneurs know exactly how much money their business has, and more importantly how much they need to make! Detailed, accurate records are critical to the financial health of your business and are indispensable for tax purposes.
- And finally, do you have rose colored glasses? Yes, an entrepreneur needs to be an eternal optimist. It is likely that at times you won’t get clients you really want, and projects you bid on. Having a positive mindset and using failure to fuel you for success is they only way for your business to flourish!
So, are you ready to be an entrepreneur?
If you’ve already lived the entrepreneur life, here are 5 Tips for Retiring a Millionaire.