The Entrepreneurial Personality
Posted on July 18, 2000
by Isabel M. IsidroDo you have what it takes to be an entrepreneur? Here is a checklist that you can use to determine if you possess (at least some) the ideal qualities that successful entrepreneurs possess.
Not everyone is cut out to be an entrepreneur.
A person who decides to start his or her own business face a long, winding road that is tumultuous on occasion and blocked by obstacles. While some people may have the motivation and desire for business ownership, they may not have taken the time to properly investigate and research their abilities and their business ideas. As a result, while thousands of new businesses are started each year, many more either fail or discontinue, and others transfer ownership or control. If the business fails - and it could - it may not only wreak havoc with your personal savings and other assets, but it could give your ego a tremendous blow.
Before committing yourself to the extraordinary investment of time, energy and money that starting a business requires, you need to engage in some personal soul-searching. You need to review your pluses and minuses, your strengths and weaknesses to determine if you are a suitable match for the challenge. Remember, the entrepreneur IS the business - its originator, its motivating force, its energy. Without the needed ingredients, the business can fail as quickly as it started.
There is no "ideal" entrepreneurial personality - successful entrepreneurs can be analytical or intuitive, risk-averse or thrill seeking, or gregarious and taciturn. However, experts have documented research that indicates that successful small business entrepreneurs, whether male or female, have some common characteristics.
Below is a checklist to help you determine if you have what it takes to make a success of your own business. On this checklist, write a "Y" if you believe the statement describes you; an "N" if it does not; and a "U" if you cannot decide. Do this exercise before you quit your job, invest your money, or spend your time in starting the new business:
Not every successful home based business owner starts with a "Y" answer to all of these questions, because there is no such thing as the "perfect" entrepreneur! Many proprietors who sense entrepreneurial deficiencies seek extra training and support from a skilled team of business advisors such as accountants, bankers and attorneys. The important thing is that you have a realistic understanding of your strengths and weaknesses. However, four or five "N"'s and "U"'s should be sufficient reason for you to stop and give second thought to going it alone.
If you are lucky enough to possess a higher-than-average level of
self-confidence; if you can think positively about (and are not
turned off by) the prospect of hard work, long hours, and onerous
responsibility; if each new problem challenges you to tackle it
with everything at your command, then owning your own business
may be your proper road to success.
Article written by Isabel M. Isidro, Power HomeBiz Guides. For more articles, visit Power HomeBiz Guides at http://www.powerhomebiz.com. PowerHomeBiz.com is an online magazine designed to stimulate your entrepreneurial mind. We make small business do BIG business. To subscribe to the bi- monthly newsletter, send email to firstname.lastname@example.org.
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