“Determining If Entrepreneurship is for you”

June 21, 2017

If you are contemplating starting your own business know that it takes a lot of planning and hard work.  There are many advantages to starting a business if you are willing to put the work in, which includes: being your own boss, setting and making your own schedule and the opportunity of doing something that you love and enjoy.

 

Do you have the right skill set?

  • Risk-Taker: Being your own boss means making decisions and doing things you probably would not normally do. A risk-taker is someone that believes in their vision and are willing to take a risk in the hope of achieving this vision where there may be a greater potential for loss in their decisions.

  • Self-governing: Entrepreneurs cannot be afraid to make difficult business decision. This individual must be able to trust their own instincts and not be afraid of rejection.

  • Influential: It is imperative that you can persuade stakeholders (customers, employees, lenders and partners) with your great business idea.  If you are confident with speaking publicly, can communicate with ease and can make a compelling argument grounded in facts, you will likely be successful in your business venture.

  • Negotiator: As a small business owner, you need to be confident in negotiating everything from leases to contract terms to rates. Polished negotiation and presentation skills will aid you in running a successful business.

  • Creative: Entrepreneurs must be able to think outside the box. A business owner must be a creative thinker, someone that does not duplicate a business already in existence.  This person must be able to be strategic in implementing and marketing their business.  

  • Support Team:  it’s important to have a strong support system in place. If you do not have a support network of people to help you, consider finding a business mentor. A business mentor is experienced, successful and willing to provide advice and guidance.

If you possess these skills, Entrepreneurship is probably for you.  Good Luck!

 

Let TWF Business Solutions help you get started!

Checkout our website:  www.twfsolutions.org

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