Is Entrepreneurship Right For You?

For my first segment of The New Entrepreneur, I wanted to focus on this question. It’s a big one, and many people don’t take the time to think about it before they dive headfirst into a new business. Other people assume they’ll be bad at business, and scare themselves out of amazing opportunities.

However, if you approach this question as objectively as possible, you can gain valuable insight that will help prepare you for the road ahead. Keep in mind: if you don’t have all the necessary qualities of an entrepreneur right now, you can work on developing them, and partner with people or hire employees who have the strengths you lack.

Did you watch? Good–now take action. Ask yourself the following:

Are you a self starter?

Consider if you can hold yourself accountable to set goals and complete them on time.

Create a “6 Most Important” daily list.  Don’t end your day until the list is complete.  If you are unable to complete an item on the list, place it as priority #1 on the following day’s list. You will be shocked at how many things you accomplish in a single week!

Can you get creative?

Creativity is the mark of a true entrepreneur.  It’s the ability to look at needs or problems from a different angle.  Creative innovation, problem solving and marketing will give you opportunities and set you apart from your competitors.

Brainstorm possibilities without being hindered by limiting beliefs.  Keep pushing through your brainstorming session until there seems to be no more good ideas. Don’t stop there. Continue creative thinking despite the lull in idea flow: The best ideas often happen right then!

Do you have a commitment to never ending improvement?

Are you willing to commit yourself to do and be better?  When we aren’t achieving the results we desire in business, good entrepreneurs take full responsibility for their part in the challenges. This includes on going education and exposure to the latest information, as well as developing and improving our own skills.  Above all it is a mental state we choose, learning from our mistakes and responding positively to challenges.

Do you follow through?

Are you reliable? Do you have integrity? Forget about following through with the minimum, strive to over-deliver whenever possible and you will truly Wow those around you.

Now review the following list:

  • Do you understand the basics of business?
  • When you don’t know the answer, are you willing to ask others?
  • Do you have a realistic sense of your own strengths and weaknesses?
  • Do you have a desire to make a contribution and a difference?
  • Do you have a strong sense of your own personal core values and how they would be reflected?
  • Can you tolerate uncertainty?
  • Do you have a desire to be independent?
  • Are you willing to accept calculated risk?
  • Can you handle uncertainty well?
  • Can you handle failure?
  • Do you have an adventurous spirit?
  • Are you Persistent?
  • Are you self confident and self reliant?
  • Are you in the habit of seeking and using feedback?
  • Are you a good listener?
  • Can you interact well with people of different values and personalities?
  • Does the idea of achievement motivate you more than the idea of status and power?
  • Can you share success and recognition with your team and those around you?
  • Do you have a desire to accomplish something special with your life and leave a legacy?

If you answered any of these questions with a “no”, don’t worry, you may still become a tremendously successful entrepreneur.  By simply being aware that one area does not come to you naturally you will be able to make decisions to help yourself either by hiring for your weaknesses or choosing to develop your abilites in that specific area.  Besides, in business as in life it takes all types.

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