How To Know Starting A Business Is The Right Thing For You

Should you go all in and start your own company? It’s not going to be easy if you decide to go down this route; nearly half of all enterprises fail within the first five years. Only a few businesses (about 30 percent) survive into their tenth year.

Entrepreneurship can be challenging under the best of circumstances, but it can be downright perilous when unexpected events, such as a global pandemic or a double-dip economic slump, enter the picture. Despite this, thousands of ambitious people every year launch a new company in the hopes of achieving fame, fortune, and social change. Possibly you’re one of them. Read on to find out more. 

Photo by Roberto Hund

You Have Realistic Goals On Starting A Business

Entrepreneurs with audacious goals tend to be more successful. An entrepreneurial career may suit you if you have a head full of ideas you’d like to see come to life.

You might wonder how this is different to most people. Surely everyone has dreams and goals they want to see realized? The difference is that great business owners view their dreams not as impossible goals but as attainable ones

Plus, every entrepreneur needs to be able to come up with unique ideas, but it can be hard to do great things without taking a few risks. Those who are destined to be entrepreneurs will be willing to take those (calculated) risks, and this is where the difference may well lie between you and someone else. 

You See Where Improvements Can Be Made

You are constantly seeking ways to improve the quality of situations, organizations, and even your own existence. It’s possible that you’ll have an idea for how to enhance a mobile app’s functionality and make it more appealing to consumers. Or perhaps you’ll see how a dish might be improved upon for both health and flavor. Having a keen interest in improving your quality of life is a promising indicator that you have an entrepreneurial spirit.

This does, of course, tie in with the idea we mentioned above. If you can see how something can be improved and then come up with a goal to make it happen, you are more likely to be an entrepreneur. If you see that something needs to be improved but assume that someone else will make those improvements, you’re more of a follower. There is nothing wrong with this, but it means you need to take a different path, and it could be that taking the Strong Interest Inventory will help you decide what path that is. 

You’re Decisive 

Can you make a firm decision quickly, even when you’re under a lot of stress? If so, you are decisive, which is a very important trait for a business owner to have. When building and growing a business, you’ll need to make quick decisions every day.

Taking care of a crisis is a normal part of running a new business. Great business owners act quickly and well. They do everything they can not to put things off. Taking too long to make a choice can cost you.

You’re A Self-Starter

The most successful entrepreneurs have a track record of getting things off the ground and being self-starters. If you look at the life story of any famous entrepreneur, you’ll see that they started and worked on many projects even when they were teenagers. They had an attitude that made them want to do things on their own.

If you like to do things on your own, don’t need to wait for someone to tell you what to do, and have always loved making things and coming up with new ideas, you were meant to be an entrepreneur.

You Can Lead

A successful entrepreneur can get other people excited about their idea. To do this, they must be able to communicate well. To earn the respect of your team and have an effect on everyone in your company, you need to be a natural leader.

Entrepreneurship might be for you if you work well with other people and love to share your ideas. It also means that if you are the only person working on your new business, you will have to do a lot of different jobs.

You See Opportunities 

Whenever you look around, you notice potential, and you view challenges as opportunities. You are not like other people because you can see opportunity even in the midst of mayhem or economic doom. There is never a bad time to start and expand your business in your eyes.

If this describes how you think, then you were born to be an entrepreneur. In order to achieve success as an entrepreneur, you need to be able to spot opportunities.

To your growth!

Eric S Burdon

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