Are you thinking about creating your own business? Would you like to develop your overall skillset to ensure a future of success?
…why not become an entrepreneur?
Becoming an entrepreneur will expand your skill set and re-mould your personality – meaning you develop the character traits needed to ensure the product or service you are offering is as good as it can be.
For more information on developing a unique idea. Try out the business model canvas (part 1 & 2).
(link part 1 to the number 1 and part 2 to the number 2 – above)
So what are these character traits? Check out our handy guide right here:
Entrepreneurs are enthusiastic, optimistic and future-oriented. They believe they’ll be successful and are willing to risk their resources in pursuit of profit. They have high energy levels and are sometimes impatient.
They are always thinking about their business and how to increase their market share.
What you have to ask yourself is; Am I self-motivated enough to do this?, Can I stay motivated for extended periods of time? & Can I bounce back in the face of challenges?
If the answer to all of those questions is yes….you’re on the right track.
Creativity and persuasiveness
Successful, switched on entrepreneurs have the creative capacity to recognise and pursue opportunities. They possess strong selling skills and are persuasive and persistent.
You’ll need to promote your business tirelessly and look for new opportunities and ways to get the word out about your new product or service.
Attend open days and networking events, pitch up at local events and make sure you market yourself by using both traditional and online methods.
Those who work for a company can usually rely on each other to provide various services or support. As an entrepreneur, you’ll typically start out on your own, meaning you won’t have the luxury of hiring support staff to begin with.
As well as trying to develop your idea, you’ll have to wear several different hats (like secretary, bookkeeper etc.), so make sure you read books on finance, marketing and personal entrepreneurial development.
by Eric Ries.
Exceptional business skills
Entrepreneurs are naturally capable of setting up the internal systems, procedures and processes necessary to operate a business. They are focused on cash flow, sales and revenue at all times.
Successful entrepreneurs rely on their business skills, know-how and contacts. Evaluate your current talents and professional network. Will your skills, contacts and experience readily transfer to the business idea you want to pursue?
As an entrepreneur, you must proactive in your approaches to everything. Are you a doer? Are you going to take the reigns? Or would you rather someone else was in the driving seat?
If it’s the latter, then give yourself a good shake!
You are responsible for everything – at least until you can afford to pay staff to do certain things for you. (at which point you still have to take responsibility for ‘keeping the ship afloat’)
Are you willing to take on board all of the risks that come with launching your entrepreneurial venture?
Risks can be reduced by thoroughly researching your business concept, industry and market. You can also test your concept on a small scale. (i.e. market research)
One of your responsibilities as founder and head of your company is deciding where your business should go. That requires vision. Without it, your boat will be lost at sea.
Are you the type of person who looks ahead and can see the big picture? If so, you’re on the right track.
Project what you expect to do in the first three years of business, especially when it comes to finances and turnover.
Flexibility and Open-Mindedness
While you need a steadfast vision and direction, you will face a lot of unknowns, so you’ll need to be ready to tweak any initial plans and strategies.
New and better ways of doing things may come along as well, especially when it comes to innovative technology.
Can you be open-minded and flexible in the face of change?
As an entrepreneur, you don’t have time to procrastinate or be indecisive! Think on your toes, make risks and don’t be afraid of quick decisions. After all, being an entrepreneur is about trying, testing and making the odd mistake. (at least then you’ll know not to make the same mistake again)
Procrastination will not only stall progress, it can also cause you to miss crucial opportunities that could move you toward success.
Can you make decisions quickly and seize the moment?
(we’re pretty sure you can)
Go on ….