If you have ever sat and observed Dragons Den, or the Apprentice, and seen profitable businessmen reaping the advantages of their work, you’ll understand the attractiveness of doing it alone as an entrepreneur. But what is it that makes some of the people a business success and others fail badly? Do you have what is required to be your own employer and make a go of it?
Entrepreneurs Need Drive
Well, if you already have business concepts spinning round your head and lie awake at night brooding about how you might be able to make a go of it, then the answer’s potentially yes. This is because the 1st crucial attribute that those looking to start their own business is drive, the drive to do it and the drive to succeed.
Workers who are content to work each day of their life earning money for a company for a fixed wage and tiny personal credit are probably frightened by the thought of taking a blind leap and investing all of their resources into a project with no warranty of success or a return “but those with a true entrepreneurial spirit will find this challenge appealing and will be champing at the bit to get going all alone enterprise.
Businessman Alert: If you can’t imagine working past 6pm and the thought of giving up your weekend or working at a Net cafe while on holiday, you’re likely not cut out to be a businessman.
Entrepreneurs Need Commitment
Another significant side of changing into a successful entrepreneur is commitment. While a great idea is the jumping off point for any business project, the initial stages will involve significant amounts of hard work, with self-starters having to be willing to eat, sleep and breathe their business in the early days. Are you willing to sacrifice some of your private life to ensure that your project receives the necessary attention to succeed? If the answer’s yes then you are yet one more step closer to business success.
Entrepreneur Alert: Yep, your pals won’t understand you and often you will look at them with envy. They’re going to try and distract you from the jobs you have set your intelligence on achieving, particularly if the time you have allotted falls outside “work hours” and you will wish you had chosen the “easy” trail of selling your soul for a regular wage sometime. But in the final analysis it should all be worthwhile!
Entrepreneurs Do Not have to Know Everything
If you happen to feel that you have the right perspective and mind-set to go it alone in business, but are worried that you do not have the necessary expertise in all areas of business administration to take the project forward, there is no need to fret. The fantastic thing about being your own proprietor is you can choose to focus your efforts on the areas where you are accomplished and comfy, and to outsource areas that fall outside of your personal experiences. For instance, if you are daunted by the concept of handling invoicing and tax payments as someone that is self employed then you can opt to pass these jobs to a consultant PAYE company, while if you’re more of a concepts than a people person it’s possible to use an exterior interest to cope with direct purchaser contact on your behalf even in the early stages before you are ready to take on a staff of your own.
Businessman Alert: I’m a great believer in “just in time” learning rather than “just in case” learning, as one of my mentors calls it. So many people never get started because they don’t know everything they feel they have to, so as to succeed. Whereas, as a businessman, you simply need the confidence to understand that you are going to be well placed to figure out the solution, or find someone that can, so as to get the job finished.
Sticking Power Is Vital for Success
If you are prepared to start to build a business then it’s also vital that you remember that your first efforts may not make you a millionaire. Indeed, many successful entrepreneurs have failed business ventures behind them, but what marks them out from the gang is the way in which they overcame such obstructions. If your first idea does not take off, remember that each attempt offers a fun opportunity to learn and grow. Get up, dust yourself down and start again in the start up game.
Businessman Alert: My first failed business concept was when I was about 8 years old and there have been many many firms since then, all with varying degrees of success or failure. More towards the “failure” end of the spectrum, it’s got to be expounded. But with every one, I have learned something and now, if I beat The Money Gym, my most successful business to date, before I die, I’ll be a very cheerful woman. I used to think entrepreneurship was in your blood but now I believe it can be learned and a great mentor, one who has really done what you need to do, will help you fly further and quicker, with less hiccups so it’s a sound investment.