Entrepreneurship is not for everyone. Generally people try to become successful in their chosen careers and be content with a regular office job. While some of them prefer setting up their own business the traditional way and are happy with it. Thus, it is imperative for you to ascertain if you are cut-out for entrepreneurship and start from there.
In this article, you will learn whether you have what it takes to become an entrepreneur, and you will also be provided with valuable tips that will gear you towards success should you realize your potentials in entrepreneurship.
Why Become an Entrepreneur
Today’s global economic downturn has opened the eyes of many to the harsh reality that an employment may not always offer security. Corporations have been downsized resulting to an increase in unemployment. Those who do get to keep their jobs have either taken a huge pay cut, or are currently living in fear of getting laid off one day. In addition, many people just are not made to be an employee and feel that there is something better out there, waiting for them.
Entrepreneurship is the answer to these concerns. You see, when you are an entrepreneur, you can be your own boss and you can work at your own pace. Of course, you need to discipline yourself otherwise you will not be successful.
Additionally, with entrepreneurship, the harder you work, the better you will be rewarded. Unlike in a regular office job, your pay remains the same no matter how many work hours you exert on your job. Lastly, you will always be dealing with new, exciting, and challenging things, with so many opportunities to learn and improve.
Below are a set of questions to ask yourself to determine if you can be an entrepreneur. This will help you evaluate your strengths and weaknesses so you can do something about it.
1. Do you see yourself as a self-starter?
An entrepreneur does not need anyone to push them to do something. They just do it.
2. Do you make smart decisions?
An entrepreneur is often faced with tough decisions. You must know how to make smart and effective decisions.
3. Are you physically and emotionally “healthy”?
An entrepreneur works long hours especially at the beginning, often ending up losing sleep. Additionally, he often deals with rejection and criticism so he must be able to manage these well.
4. Are you good at planning and organizing?
An entrepreneur makes plans, creates ideas, and manages his endeavors and everything associated with it, including the people involved. You must be disciplined and focused so you can plan and organize well.
5. Are you able to get along with different personality types?
An entrepreneur deals with clients, employees, and customers. Everyone has a unique personality and you must be able to get along with different people and manage them without a problem.
6. Do you keep yourself motivated?
An entrepreneur will experience a lot of uptimes and downtimes. You must be ready to celebrate success but you must also be geared to accept failure and still keep moving forward.
7. Are you goal-oriented?
An entrepreneur keeps the end in mind. If you are goal-oriented, you can make things happen which is exactly what an entrepreneur does.
Tips for New Entrepreneur
When you are new at entrepreneurship, you are bound to commit mistakes just as most beginners have. However, here are some tips for you to live by. Doing so will reduce risks and increase your chances of success.
1. Do what you love doing. To be passionate at something, you must do what you love doing. You must also be good at it and not do it simply because everyone else is doing the same thing.
2. Remember that YOU are the most valuable asset. If you do not use your skills and do not exert effort in the endeavors you take, you will most likely fail in it. Spend time to develop and improve yourself, and know your strengths and weaknesses. These things matter a lot.
3. Make a business plan and write it down. You cannot build a structure without a blueprint, and in the same way, you must have a sound business plan- something you can see and read. Make sure it is flexible enough as you will most likely make changes to it as you go along.
4. Build a business by improving your relationships with others. You need to reach out and be hands on with the business. This means being “there” for your people and customers, and keeping your communication lines open. You will learn a lot from them just as they will learn from you.