These Are the Signs the Right Time Is Right for You to Become an Entrepreneur
Entrepreneur's New Year’s Guide
Are you the type of person who can’t sit still? Every time you go out with friends and family, do you start talking with everyone you see and meet? Do you love to read the news, books and articles of people who inspire you? If you identify with some of these statements, you’re a natural entrepreneur.
Entrepreneur in detail.
Being an entrepreneur can have different meanings to people. Some people imagine starting up their own shop. Others dream of starting a large business chain. Either way, you would be starting your own business. But in order to have that business, you need to have an idea behind it that fuels forward movement. Although having a great idea is just one part of becoming an entrepreneur, there is a misconception that an idea is all you need. When launching a business from scratch, one of the many things you need to know is who your audience is and who will be interested in what you’re selling.
Related: Do You Know How to Sell Your Ideas?
An article published in Business News Daily explains it best -- "An entrepreneur is someone who can take any idea, whether it be a product and/or service, and have the skill set, will and courage to take extreme risk to do whatever it takes to turn that concept into reality and not only bring it to market, but make it a viable product and/or service that people want or need."
Characteristics of an entrepreneur.
There are a variety of different articles, like the one mentioned above, and books regarding entrepreneurship. All of them agree that there are many common traits that all entrepreneurs share. Some of these traits are:
You’re self-motivated, confident and proud of yourself.
You don't like it when people tell you what to do because you like calling the shots.
You’re very competitive and like setting deadlines for yourself.
You negotiate whatever you can, and you follow up with people when you want something.
You don’t dwell on the past, and remove things that don’t work for you.
You come up with ideas and point out flaws in other ideas.
You are not afraid of working hard and like to get involved with different things.
Time management is the key skill set.
Having a great idea and executing it at the right time is crucial. This is one aspect of becoming an entrepreneur that most people overlook. What if you have the right idea, but it’s the wrong time to start working at it. You need to measure out, take baby steps, and assess your position into starting a new business. As part of owning a business, risk management is an essential factor -- and having a strong balance is the most important.
Dedicating your full attention to starting up a business is another factor that is often ignored. You need to be fully willing to commit some “me time” and “family time” in order to nurture and grow your business. It will be a great sacrifice that you will have to take, but in order to have a successful business, you need to make this commitment.
You can’t slow down. This is a 24-7 job you want to have, and that means procrastination is not in the cards. When an important decision comes up, you need to assess strengths and weaknesses, make a conscious decision, and move forward. Remember to always trust your instincts.
It’s never too late to start in the entrepreneurship game. Author J.K. Rowling started the Harry Potter craze later in life. She published 7 books, and all of them became box office films. Starting a business later in life offers numerous benefits. You've had experience, and experience that comes with age can help you see different situations under a new light.
Entrepreneurship is not a maybe thing. You know when it’s time to stop working for that company or that job that you don’t like, and create the job that you love. Taking the first step by deciding that you want to have your own business is easy. What comes after is a learning curve that all successful entrepreneurs know. For you, failing will not stop you. You will take it as a learning experience and will find a new challenge in doing so.
It’s important to remember that age is not a factor in starting your own business, but time is. Timing in this industry is everything. You need to have a plan, and set out to accomplish each task you give yourself. Having a support system is very important for those crucial and desperate situations you will encounter.