So you want to be an entrepreneur. You have this brilliant idea that you’re sure everyone will love but are you sure you have what it takes?
Many people think the biggest challenge with entrepreneurship is starting up – you couldn’t be more wrong if you think so too. The biggest challenge with being an entrepreneur is STAYING IN BUSINESS. Studies have shown that many businesses do not survive past the first 5 years. This isn’t because the business idea they had wasn’t sufficient – in a nutshell, many people realise along the line that they don’t really love the world of entrepreneurship or they never had it in them to be an entrepreneur.
So how do you know if you have what it takes to be an Entrepreneur?
You have a real passion for what you do or want to do!
It is very important to note that without a true passion for the business you want to venture into, you will not be able to sustain your business idea. If you don’t truly care about the product or service you want to sell to to people, you will quickly get discouraged and the possibility of giving up is very high when things start to go south!
REAL PASSION IS THE KEY TO ANY SUCCESSFUL BUSINESS
You have the ability to get over failures
Successful people know that without failures, there can be no success. Failing is part of the growth process of any business. You may try out a marketing strategy which might not work out as well as you planned. You might hire the wrong staff at some point or just make a not so good business decision. However, failure does not mean the end of the world. Remember the popular saying
If at first you don’t succeed, try again
Every successful entrepreneur must be able to get back up from failures.
You have the ability to adapt to changes quickly
No business idea or concept can afford to be stagnant. As new ideas emerge within your field, new technologies, new marketing styles and so on, businesses must also learn to adapt. As the head of your business, it is important that you understand these changes and are able to adapt your business model to suit the changes in society.
We all know how quickly the world is changing these days. Therefore, to be a successful entrepreneur, you must also be able to adapt to changes quickly.
If you have these 3 things, in addition to good planning and management skills, you’re well on your way to becoming a successful Entrepreneur