9 Surprising Signs That You Might Be an Entrepreneur
Are You an Entrepreneur?
Despite the difficulties with the economy, today entrepreneurship is surprisingly doing very well and more people are starting their own businesses’. If you are considering on giving entrepreneurship a try then it is important to know what it takes to be successful. This will be the biggest financial and emotional commitment you make for yourself. Anyone can take the step in faith and become a business owner but not everyone can become a successful one. There are several key skills that may increase your chances of becoming successful, which all can be taught.
Key Skills for Success
- High Risk Tolerance
- Excellent Salesmanship
- Great Negotiating Ability
- Emotional Intelligence
When starting out you must be able to take a high risk of uncertainty and not hesitate to pursue your vision. With excellent salesmanship it is vital to have proficient communication skills and be knowledgeable of what you are trying to sale. Great negotiating ability is important to keep a good cash flow coming in and successfully having your business grow. When it comes to your emotional intelligence it is a set of skills that allows you to understand and influence yourself or others.
Personality Traits That May Make You an Entrepreneur
- Being Obsessive – This is when you have problems letting go when starting something and you must finish no matter what the outcome.
- Perfectionist – This is when you see how you can do things better and make improvements on everything. You will also be opinionated without fear of what anyone says
- Creativity – You will have the ability to think up of new ideas, new ways to do things, possible ability to invent and inspire.
- Passion – Having passion in what you are doing is very important to succeed in your business.
- Competitive – Striving and never giving up because you will not lose, succeeding is your only goal.
- Self Starter - This is where you work your tail off day and night on stuff that is very important to you such as your business.
- Self Confidence – When you have confidence in yourself others will see that and have confidence in you. If you don’t believe in yourself potential clients will that, which can make them hesitant in your business and in you.
- Not a Follower -You like to be in control, organize and manage everything.
- Excellent Budgeting – You know how much money you have, the value and cost of things so you can recognize a real bargain.
Before You Begin You’re Entrepreneur Path
Before starting off in your Entrepreneurial path make sure to have plenty of cash put aside. Some say that having 6-12 months of living expenses in the bank is sufficient this is not true. This is not nearly enough to be to ensure that your business started having a positive cash flow. Of course sometimes we take the plunge not caring what we have in the bank simply because something is nagging at your conscious to just do it. My best piece of advice is start part-time on your business or find an investor that is fine with you taking a salary in the beginning stages of your start-up.
Statistics have shown that businesses that did not succeed were because the owner ran out of money, not lack of passion or determination. To keep from running into any issues and keep your business from failing put enough money aside. Remember that every great entrepreneur must overcome failures and discouraging obstacles before reaching success. When dealing with failure an entrepreneur will just get right back up and will never be discouraged.
Til’ Next Time,