Have you got what it takes?
Some thrive within the freedom of self-employment; others need more predictability as employees. Before you strike out on your own, think about whether you have the characteristics best suited to live a life of an entrepreneur. The following are all highly valuable characteristics for an successful self-employed individual.
- Enjoy working alone as well as meeting new people
- Able to handle a self-imposed schedule well
- Able to come up with new and innovative ways of doing things
- A willingness to take calculated risks
- A good track record in setting goals for a project and the ability to achieve them
- Able to use failures and setbacks constructively, by turning them into useful lessons for future success
- A positive and optimistic attitude towards challenging and rewarding situations
Do men and women differ when it comes to entrepreneurship?
Karen Keller, Ph.D., an expert in women’s leadership, has this to say on the subject – Women Entrepreneurs – The Top Ten Characteristics .
If you think you have most of these characteristics, you’re an ideal candidate for entrepreneurship.
If you’re not so sure about a few items in this listing, don’t give up hope yet. Training, education and right experiences can take you there too. You just need to seek and persevere with right entrepreneur mindset in mind.
Before you proceed to start your own business, mull over the following questions. Seek to understand its implications & the impact on your entrepreneur journey.
Do I have any type of experience in this niche business?
Who are my main competitors in this niche market? Market size?
Do I have the discipline and resources to run this type of business?
How much time I needed, to build up a profitable and sustainable business?
Are there possibilities to scale up the business through automation and outsourcing when the niche business is on track?
If you’re ready to embark on this entrepreneur journey, good luck.
Reuben H C Ong
