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“Determining If Entrepreneurship is for you”

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!

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