Every Entrepreneur Needs These 4 Qualities to Succeed
Is launching your own business right for you? Here's how to tell.
By Michelle Van Slyke •
Opinions expressed by Entrepreneur contributors are their own.
We are in the midst of the "Great Resignation." A record 4.3 million U.S. workers left their jobs in August, as reported by the Labor Department. Although some are chasing new jobs, the past 20 months have inspired many to rethink their career paths, passions and priorities. Some are even considering starting their own small businesses to pursue a personal dream. If you've found yourself considering what's next, here are four reasons why starting a business could be right for you.
1. You take pride in your work
We've all had our lives change in one way or another since the pandemic began. For some, the isolation and restricted routine imposed by quarantine uncovered a lack of passion and a realization that their hearts were no longer in their current work.
As we approach the holiday season, we're all preparing for the inevitable questions about work during family dinners or gatherings with friends. Upon further reflection, you may find these conversations are easier when you have something you're proud to share with others.
The Inside Small Business Survey my company conducted this year found that 43% of small business owners shared "succeeding and taking pride in what you build" as one of the most exciting aspects of owning a small business.
If you crave a meaningful work experience where you can find both passion and pride, starting a business might be right for you. The experience of building and growing something you can call yours can be incredibly rewarding.
2. Challenges excite you
Being a small business owner does not come without challenges. Although the journey isn't an easy one, that isn't necessarily a bad thing. Facing and overcoming challenges leads to growth and, ultimately, to reaching our true potential.
Despite the lingering effects of the pandemic, small business owners continue to meet the moment with remarkable resilience. That same survey found that 38% of small business owners made operational changes, such as offering new or different products and services, selling online and offering curbside pickup or delivery.
If you're someone who is always up for a challenge and finds excitement in opportunities to rise to the occasion and prove yourself, starting a small business might be the perfect venture for you.
3. You're a natural leader
Strong leaders run successful businesses. People often think the key to making a business successful is heavily dependent on a great idea, but the truth is, dedicated people are critical to bringing a great product or service to life.
Throughout my career, I have been blessed with leaders who see the value in teamwork. Being a leader is about understanding that you cannot and should not take on everything by yourself. A business can only achieve growth when its leaders understand the importance of empowering the teams around them.
If you thrive on empowering and nurturing others, you possess a critical skill that can put you a step ahead when it comes to starting and growing your own business.
4. You have a strong work ethic
Everyone has their own unique goals that motivate them. Some people are driven by their desired career success, while others are driven by a need for financial stability. Regardless of motivators, valuing and believing in the importance of hard work will take you places.
Building a successful business won't happen overnight. It's a lifelong pursuit that demands persistence, determination and passion. Keeping the value of hard work at the forefront of your entrepreneurial journey is one of the keys to starting and maintaining your own business.
Becoming a business owner is a dream many people aspire to achieve. With the right core qualities, you can play an essential role in the backbone of our economy by joining the small business community.
