What it Takes to be a Successful Entrepreneur

1. Ask yourself – which is more important to you – security or independence? Assuming that you have a job to begin with, but maybe you’re not completely happy with it – you need to consider whether you just want to change jobs and keep the “security” (as if there was much of that any more) of a steady paycheck, or if you really want to chart your own course and be your own boss. Are you just looking for a raise or a better paying job, or do you really want to run your own show?

2. Consider your “why”. So, you’d rather be your own boss than an employee. But, is that just so you can be lazy, and not punch a clock for someone else? If you expect your business to really go, there must be a reason that’s big enough to still get you up and into your own office or shop. Do you have a passion for some subject or cause or craft that will drive you to do whatever it takes? It may be your family, a lifestyle goal or it may be a charity, but if you don’t have a real “why”, the work probably won’t get done. Remember – your business rests on you.

3. Consider the investment and risk. The size and strength of your “why” will influence this decision, but understand – you will have to spend money to make money. The thing about being an entrepreneur – in business for yourself – is that you must accept that, along with the potential for making more profit than you could ever expect in a wage or salary, there also comes the risk of having less income, at least for a while. So – do you have some cash or credit that you’re willing to invest in your own venture?

4. Do you have self-discipline? Remember that you won’t have a boss breathing down your neck – you’re going to have to make yourself get up, get to it, and get things done.

5. Can you think long term? If you’re looking into going into business, that’s way different from a lotto ticket or get rich quick scheme. Don’t expect “overnight success” – that’s a pipe dream. Are you prepared and determined to stick with it for the long haul, if necessary?

6. Do you take responsibility for the results? When you run your own business, you are where the buck stops. If you tend to want to blame someone else for the way things are, that will no longer work.

7. Can you delegate what can be offloaded? If you run a traditional business with employees you’ll probably need to have a manager to allow you to keep from living in the shop. If you grow a big internet business, you’ll eventually need to outsource some communications, at least. Can you let go a little?

8. Finally – do you care about serving people? Sure, you ultimately want your business to pay you, but that will only happen if you give others something of value. If you believe and practice the old adage that “you will get what you want if you help enough other people get what they want”, you can make it as an entrepreneur!