Monday, December 19, 2016

IS ENTREPRENEURSHIP FOR YOU?

Many people dream of being their own boss…and owning their own company. If that is one of your goals, the Small Business Administration recommends you assess if you have these characteristics and skills commonly associated with successful entrepreneurs:

Comfortable with taking risks: Do you avoid uncertainty in life at all costs? If yes, then entrepreneurship may not be the best fit for you. But if you enjoy the thrill of taking calculated risks, it may be.

Independent: Entrepreneurs have to make a lot of decisions on their own. If you find you can trust your instincts — and you’re not afraid of rejection every now and then — you could be on your way to being an entrepreneur.

Persuasive: If you enjoy public speaking, engage new people with ease and find you make compelling arguments grounded in facts, it’s likely you’re poised to make your idea succeed.

Able to negotiate: As a small business owner, you will need to negotiate everything from leases to contract terms to rates. Polished negotiation skills will help you save money and keep your business running smoothly.

Creative: Are you able to think of new ideas? Can you imagine new ways to solve problems? If you have insights on how to take advantage of new opportunities, entrepreneurship may be a good fit.

Supported by others: Before you start a business, it’s important to have a strong support system in place. If you do not have a support network of people to help you, consider finding a business mentor. A business mentor is someone who is experienced, successful and willing to provide advice and guidance.



The SBA has created these 20 questions to help ensure you’ve thought about the right financial and business details. 

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