7 SIGNS OF AN ENTREPRENUER

How do you know if you have what it takes to start abusiness? There’s really no way to know for sure. But I do find things incommon among the emotional and family fabric of people ready to consider anentrepreneurial venture.

Do you have the right personality type to successfully runyour own business? It takes an entrepreneurial fire in you to make a business,not everyone has it.

How do you know if you have what it takes to start abusiness? There’s really no way to know for sure. But I do find things incommon among the emotional and family fabric of people ready to consider anentrepreneurial venture.

You don’t have to fit all seven of these categories to be agood candidate for entrepreneurship. But it probably wouldn’t hurt. In general,the more you have in common with these characteristics, the closer you probablyare to being ready to try going out on your own.

1. You come from a line of people who couldn’t work forsomeone else. I don’t mean that in a negative way. People who are successful atestablishing their own business tend to have had parents who worked forthemselves. It’s usually easier to get a job with a company than to start yourown business; people who strike out on their own often have the direct exampleof a parent to look to.

2. You’re a lousy employee. No need to sugar-coat this one.People who start their own businesses tend to have been fired from or quit morethan one job. I’m not saying you were laid off for lack of work or moved fromone job to a better-paying one. You were asked to leave, or you quit beforethey could fire you. Think of it as the marketplace telling you that the onlyperson who can effectively motivate and manage you is yourself.

3. You see more than one definition of “jobsecurity.” I am truly envious of the few people I know who have stayedwith one employer for 25 or 30 years. They look very secure. But how manypeople do you know who are able to stay with one company for that long? In arapidly changing economy, job security can be frighteningly fleeting.

4. You’ve gone as far as you can go, or you’re not goinganywhere at all. Sometimes the motivation to start a new venture comes fromhaving reached the top of the pile where you are, looking around, and saying,What’s next?” Early success can be wonderful, but early retirement cansometimes drive energetic and motivated people totally crazy.

5. You’ve done the market research already. Don’t even talkto me about your great business idea if you haven’t put the time into figuringout if there’s a market for your product or service. As the people behind anynumber of failed Internet ventures will tell you, “cool” doesn’tnecessarily translate into “profitable.” Don’t bother building it ifyou haven’t figured out whether there’s a good chance the customers will come.

6. You’ve got the support of your family. Starting abusiness is stressful under the best of circumstances. Trying to do it withoutthe support of your spouse or other significant family members or friends wouldprobably be unbearable.

7. You know you cannot do it alone. You might excel atpromoting a business. Maybe you love running the financial end of theenterprise. You could be someone who starts a business because you have uniquecreative or technical know-how to create a product. Any of the above ispossible, but it’s unlikely that you are going to excel at all of these tasksor at all of the tasks involved in running any business. Forget all that doingit alone stuff. You are going to need some help sometime.

The willingness to get that help, having employees,partners or consultants for those areas in which you are not an expert is oneindicator of likely future success. No successful entrepreneur has eversucceeded alone, the person who is most capable of enlisting the support ofothers is the most likely to succeed.

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