What It Takes to Be an Entrepreneur
Do you have what it takes to be an entrepreneur? In this day and age, new businesses are popping up everywhere. The real challenge is not in starting a business but staying in business. The fact is, anyone with an idea and a desire can start a business. The internet has made things so much easier for an entrepreneur. You don’t even have to have a brick and mortar store to be successful.
Are you tired of working for someone else, only to see them succeed and you stay stagnant in your career? Do you want to have more of a say in your destiny? Are you tired of not calling your own shots? Do you have an awesome idea that the world needs? If so, then you are a budding entrepreneur.
One of the biggest traits of a successful entrepreneur is confidence. Confidence will help sell your idea to others and help you get your business running. You’ll also need to trust your gut. Learn to listen to that inner voice.
Know your strengths
A great way to learn more about yourself is to know where your strengths are. If you know what you’re good at and where you excel, you’ll know what type of business is best suited for you. Create a list of all of your experiences, skills, and education. Now think about what businesses would best suit these traits.
Participate in the Gallup Strengths Finder test to learn exactly what your strengths are. Evaluate and learn even more about these strengths by investigating them on the Gallup website or YouTube videos. Think about how you can utilize these strengths to make a successful business.
By knowing your strengths, you can also know your weaknesses. A strength can even be a weakness when it’s not used correctly. For example, if you have Achiever as a strength, this could unknowingly be a weakness if you don’t know when to say no or you burn the candle at both ends. By being aware of your personality you can make smarter choices. On the other end of the spectrum, by knowing your true weaknesses, you can delegate out these tasks to someone that is better suited for them. If you are terrible at responding to emails, then you could hire someone for email management, for example.
Know how to set a proper goal
By knowing how to create a goal with intention, you’ll be setting yourself up for success. Creating a SMART goal will help you break down what you need to accomplish. Make sure your goal is Specific, stating exactly what you need to do using action words. Make it Measurable so that you have a way to measure your progress and evaluate it. It must be Achievable and attainable. The goal should be Relevant to your business and improve it in some way. Make it Time-bound with a specific timeframe.
Here is an example of a SMART goal. Let’s say you want to have new clients for your VA business.
Specific: I want to bring in new clients for my VA business
Measurable: How many new clients do you want to bring in? 5 new clients
Achievable: Is this goal attainable? Yes, this is doable.
Relevant: Will this help your business? Absolutely!
Time-Bound: I will have 5 new clients in 6 months
Now you have a SMART goal: I will bring in 5 new clients for my VA business within 6 months.
You could break this down even further by saying, I will bring in 5 new clients for my VA business within 6 months by searching and applying to at least 3 positions every day.
Do you see how being more specific and using the SMART guide will help you become clearer on your goals? For some more examples and help with creating a SMART goal, visit Fit Small Business.
When setting goals, there are certain things we must factor in, such as income, lifestyle, and type of work. You need to think about how much money you need/want to make when starting a business. What kind of lifestyle are you ok with? Will you need to travel, take risks, move, etc? What are you ok with and not ok with? Do you want to work in an office or at home? Inside or Outside? Do you want to work with customers or behind the scenes?
4 Necessary Traits to be an Entrepreneur
Are you passionate about your idea? Are you able to be genuine? If you aren’t truly passionate about your idea, how will you be able to sell this idea to the public? By showing others your passion, they will be more willing to buy into your idea/product. If you are genuine, they will grow to love it.
You must be ok with failing. If you get too hung up on the failures you make along the way, they will crush you. There is no way to not fail from time to time. This is how we learn what works and what doesn’t. Learning why we fail is what makes us successful. The famous quote by Thomas Edison sums it up. “I have not failed. I’ve just found 10,000 way that won’t work.” You won’t know how close you are to success if you give up when you fail.
You must love to learn. Learning new things is what keeps us up with the times. It is what helps us grow as a person and in business. If you make it to the top, don’t assume you’ll stay there if you don’t continue to learn.
You have to be ok with taking risks. Becoming an entrepreneur is not for the faint of heart. You have to be willing to take calculated risks. Nothing in life is guaranteed, right? Learn to take those risks and hopefully they will pay off!
Becoming an entrepreneur is not without its ups and downs, but it has been so worth it. It has allowed me the freedom of working for myself, creating and implementing new ideas, and the fulfillment of knowing I am making my own rules.
If you want to learn more about becoming an entrepreneur, I’d love to help answer any questions you might have. My blog post A Beginners Guide to Virtual Assistant Taxes could also help answer some of your questions. If you need help with your business along the way, Valley Virtual Assistance can help with that too! Remember your weaknesses and call upon us to take those tasks from you. You’ll be happy you did!