Not everyone is cut out to be an entrepreneur. An entrepreneur is one who starts a business, overlooking the risks and challenges involved and creates a product or service to cater for a particular problem in the society. An entrepreneur builds a niche for himself and is determined to thrive in it. Entrepreneurship skills have been debated to be in-born or man-made backed up by different theories. Personally, I think entrepreneurs have both intrinsic and man-made skills.
Becoming an entrepreneur is one aspect that so many people fantasize about and go into but only a few people actually thrive in it. I would be sharing 10 signs that tell if you are an entrepreneur.
- Are you a risk-taker?
Starting a business doesn’t mean an automatic fast growth rate and clientele base. Many at times, entrepreneurs have faced several ups and downs while running their businesses. In every business, there is that possibility of losing it all. Several businesses have lost it all and have relied on the ability of the entrepreneur to pick him or herself back up and make a difference. How much risk can you take in that business you are running?
- Do you have what it takes?
Entrepreneurs are usually not faint-hearted people. Oftentimes when starting a business, the entrepreneur works round the clock (24-hours) just to keep things running smoothly. He/she might face the initial criticisms, rejections from friends, clients and the society at large. During the highs and the lows, an entrepreneur is one who stands strong and leads regardless. You have an obligation to your employees, to your family, friends and the society at large. So, do you have what it takes?
- Do you have leadership skills?
According to Thomas Carlyle in the 1840s who said, “Leadership traits are intrinsic” which means that a leader is born and not man-made. Though, history has also shown that leaders like Nelson Mandela are made and not born. Leadership skill is a very important trait an entrepreneur should possess. Being a leader with employees below you will require you to make certain decisions for the betterment of everyone. Of course, the major reason for every business is to make profit, the entrepreneur has to constantly strategize on ways to maximize profit.
- Do you want to be your own boss?
Starting a business means that you have to become your own boss. A huge responsibility has been placed on your shoulders to succeed and cater for the business. Usually at the start of a sole proprietor business, the entrepreneur is the decision maker, runs logistics, runs deliveries, still packages the orders, audits the account and so much more. The ability to successfully organize your business means that you are your own boss.
- Are you a problem solver?
What problem does your business strive to solve and how do you want to go about it? This gives the basis of your business plan. Having the skills to draft a proper business plan and execution is a gift and a true entrepreneur should be skillful enough to solve problems in his niche.
- Are you competitive?
Always bear in mind that there will be others before and after you. These are your competition and they want to bring you down and take the top spots. Older competition might come in the form of lower prices, better branding and packaging, more affordable services, etc. Most start-ups are usually small and need to be nurtured to full strength. In the case of bigger brands, how do they maintain standards against upcoming brands in the long run? As an entrepreneur, you need to be very competitive and always thinking of possible ways to serve.
- Do you want to build a legacy for your children?
Building a lasting legacy for generations to come might mean going the extra mile to become successful. Running an 8-5pm job will only provide enough for you and your immediate family(s). Becoming an entrepreneur is the next best thing to provide enough to build a legacy and stand strong over time.
- Do you have the desire to solve a problem?
What problem(s) would your business be solving? These are important questions you should ask yourself as an entrepreneur. With a better understanding of this, a proper business plan is drawn. Another important question is, how do you go about solving the problem? To run a business is no easy show more so being the brain behind the business is most tasking.
- Are you passionate about it?
Doing what you love and have a passion for has kept so many businesses from falling. Having passion for what you do can thrive businesses to the next level. As an entrepreneur, are you doing what you love? When faced with so many challenges, will the passion for your business keep you going?
- Are you a creative thinker?
The ability to do things differently from the norm distinguishes two businesses. To break the norm, one has to be a creative thinker. Creative thinking is a skill that affects both short and long-term businesses as they would always be competition. A good entrepreneur should be a creative thinker, his mind should always move faster than his decisions devising plans and strategies for execution.
With the growing inflation hitting most parts of the world and the high rate of joblessness, most people have resorted to becoming entrepreneurs themselves. Sadly, not everyone is cut out to be an entrepreneur. This with the growing rate of inflation has packed up several small and medium sized businesses. You don’t have to tick all 10 questions right before you become an entrepreneur, just answering a few can set you on the right path and other skills can be learnt or acquired on the job.
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