I came across a great article the other day called So, You want to be an Entrepreneur. It raises the question of what sort of person you need to be to be a successful entrepreneur. Given that a number of people are being made redundant based on the current climate, it’s only natural for people to apply themselves to the possibility that they may be able to set out on their own. But there are a number of questions that one should pose to oneself before going down that path. If it’s something you’ve ever considered, have a look at these questions:
- Are you willing and able to bear great financial risk?
- Are you willing to sacrifice your lifestyle for potentially many years?
- Is your significant other on board?
- Do you like all aspects of running a business?
- Are you comfortable making decisions on the fly with no playbook?
- What’s your track record of executing your ideas?
- How persuasive and well-spoken are you?
- Do you have a concept you’re passionate about?
- Are you a self-starter?
- Do you have a business partner?
There are some interesting questions there and a good way to focus your brain on the task at hand. The great thing about them is that they can be applied to any business, from a consulting firm specialising in high-end IT systems, to a web enterpreneur selling magformers on eBay; from reselling holidays at extended stay hotels to setting up a network of nannies across the country.
So, are you ready to take it on? What would your answers be?