Find out if you’re up for the job.
As we enter the next decade, more entrepreneurs will begin to venture out by themselves through desire or because of the result of joblessness. No matter how they reach this point, it is crucial to be aware of the challenges ahead when they begin their own business.
What exactly is an Entrepreneur? According to Webster’s dictionary, an entrepreneur is “a person who manages and organizes an enterprise that takes on risks in order to maximize profit.’ The term “entrepreneur” is an Entrepreneur is a professional, or better, a method to state that you’re self-employed or you are in your own. If you describe yourself as an entrepreneur or self-employed most part of the day will likely be spent on your own.
As an entrepreneur, you need to depend on yourself to begin growing, maintaining, and expanding your business. Before you embark on a journey into entrepreneurship, it’s a good idea to do a self-assessment and determine if you’re prepared to tackle the many responsibilities to come up with. By answering these questions about yourself, you can help you gain clarity.
1. Are you aware of yourself?
Have you had a real look at what you could do and can’t accomplish? The idea that you are able to accomplish everything would label you as a master of all trades. Understanding your strengths and weaknesses allows you to capitalize on your strengths and outsource areas of your business that are weak.
2. Do you have confidence in yourself?
In the beginning, you will have days that you doubt your abilities or the ability to run your business successfully. Being informed about your field can help you build self-confidence. If you are meeting with sales prospects, plan ahead of time what you wish to discuss in your meetings by making an agenda. Make sure you practice your presentation by the mirror in the event that you are introducing the product you offer or your service.
3. Are you self-disciplined?
Entrepreneurship is an experience that is different in comparison to the typical 9-to-5 job. Do you have the determination to wake up every day and work up to eight hours consistently? Entrepreneurs should create a routine that is similar to when they were heading to the office of their employer. They should dress every day and be ready to attend an appointment at a minute’s notice. Women should think about putting on their makeup too. There’s a distinct impression about your work in a professional outfit for work’ versus working wearing your pajamas.
Being disciplined also means being able to refuse “other things” that people with friends are doing. Being aware that you’re the sole one accountable for your payment will allow you to stay on the right track when those “join us” phone calls begin to appear.
4. Have you got great confidence in yourself?
Resigning from a job due to a reduction in size or restructuring is becoming more frequent these days and can deplete your self-esteem, even if it does not have anything to directly relate to your work performance. Think of a time that made you feel confident in your achievements and capabilities. Utilize that experience as an example of what you’re good at and what you’re competent at. Then, you can move into your day with that positive feeling.
5. Do you have self-motivation?
Entrepreneurship is akin to being on a roller coaster. It is full of its ups and downs. It is difficult to get to the very top of the initial loop; the point where the ride speeded off can be difficult and takes a lot of to complete. Have you got the ability to push yourself to the limit during the initial stages before your business really takes off? Do you have the grit to endure the down times that you’re experiencing a slump period? Keep your eyes on the prize ahead of you, and connecting with positive individuals can aid. Going to business networking meetings or seminars for your industry will keep you active, motivated, and positive. Keep in mind that Rome wasn’t built in a single day.
6. Do you have confidence in yourself?
In the beginning, entrepreneurs tend to price their products or services at a lower price than market value in hopes of securing new customers. The price you set sets an impression in the mind of your potential client. If you charge not enough and you risk being perceived as being either too expensive or insufficient. Examine the market to determine the prices your competitors are charging and then offer a similar price or perhaps a bit higher. Be prepared to talk about your value in case you are asked about the price.
As with the roller coaster that has its downs and ups, the roller coaster vehicle has a final destination. This is also true for your journey to entrepreneurship. Be on track. Keep going, and you could become the next self-made businessman or woman, wealthy and successful because of your own efforts.
Pamela Wigglesworth, CSP, is an international coach for entrepreneurship, speaker, and the CEO of Experiential Hands-on Learning. Living in Asia for more than twenty years, Pamela is known as the 50-60-something (TM) startup entrepreneur. She assists entrepreneurs with the development and growth of their businesses.