Your Own Business
Got What It Takes to Run Your Own Business?
Being an entrepreneur isn't easy. Have you got what it takes to really make it on your own? Here are some of the
most important attributes an entrepreneur needs to possess in order to succeed.
=> Ability to Listen to Advice, While Making Your Own Decisions
An entrepreneur needs to be able to listen to people who have more experience, from their peers and from their
customers. An entrepreneur needs to fully and deeply understand their market, their customers, their current
situation, their problems and their potential solutions.
That said, no matter how much experience your advisors have, you ultimately have to be the one to make the
decision. An entrepreneur must be willing to call their own shots, sometimes even if it goes against what their
advisors with more experience suggest - if that's what your gut tells you to do.
=> Honed Instincts You Can Trust, Especially with People and Deals
A business person needs to be able to trust their instincts. The two most important instincts they need to possess
and be able to rely on are their instincts about people and about business deals.
Ever get the sense that you just can't trust someone? Or the sense that you genuinely want to do business with
someone? Do you trust these instincts?
When a business proposition is presented to you, do you have a strong internal compass that tells you "yes" or
"no"? Can you trust these gut instincts?
The best business decisions are not made just on numbers and projections. Although those are important, the real
decision often comes down to whether or not your instincts tell you go forward. Your instincts will usually be
=> An Orientation towards Action
Great entrepreneurs are action oriented. "Ready, fire, aim" rather than "ready, aim, fire."
Instead of spending two years writing a business plan and conducting market research, a real entrepreneur just goes
for it. They take the results they get from the real world, rework their plan in real time and keep moving
MBA-types who study businesses hypothetically without actually building businesses tend to think about business a
lot. Entrepreneurs on the other hand are much more apt to just do something and see what the results are.
In order to really create results in the world, you've got to be strongly action oriented.
=> Be Willing to Take Risks, Sometimes Really Big Risks
Are you willing to risk everything you have on your ideas? Sometimes that's what's really necessary in order to get
your venture launched off the ground.
Many entrepreneurs have had to sell their homes to fund their businesses. Some have had to leverage enough of their
corporate equity that they'd lose control of their own company if anything went wrong, in order to fund the next
stage of their growth.
To really succeed in running your own business, you've got to be willing to take risks. Sometimes those risks will
feel humongous, but you've got to be willing to take them anyway.
These are some of the most important aspects of succeeding as an entrepreneur. Do you have what it takes? If you
think the answer is yes, then you've got an incredibly exciting and potentially highly lucrative career ahead of
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