Are You Suited to Life as an Entrepreneur?

Monday, 2 February 2009

Sadly, there is no fail-safe method of becoming a successful entrepreneur. Research shows that successful entrepreneurs have:

  • Strong needs for control and independence
  • Drive and energy
  • Self-confidence
  • A point of view of money as a measure of performance
  • A tolerance of ambiguity and uncertainty
  • A sense of social responsibility

and that they are good at:

  • Problem-solving
  • Setting (and achieving) goals and targets
  • Calculated risk-taking
  • Committing themselves for the long term
  • Dealing with failure
  • Using feedback
  • Taking the initiative
  • Seeking personal responsibility
  • Tapping and using resources
  • Competing against self-imposed standards.

How do you measure on these criteria? Be honest with yourself.

Very few entrepreneurs can lay claim to all of these characteristics. Making the most of your best characteristics and using ingenuity (including the skills of others) to bridge the gaps is perhaps the most frequently encountered entrepreneurial characteristic of all!

However, despite the great variety of people who end up as business-owners, probably the most important personal characteristic for an entrepreneur is determination.

It’s easy to start a business; it’s more difficult to keep it going. When you are faced with long hours, with working through nights and weekends, with extended periods away from your family, and with seemingly-permanent¬† financial worries, the thought of a secure permanent pensionable job is tempting. Determination is what will see you through these lows until you break through to success!

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One Response to “Are You Suited to Life as an Entrepreneur?”

  1. MJ said

    Hey Brian,

    You’re very quiet lately…any more posts of wisdom to impart??

    Ciao,
    MJ

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