Are You Cut Out to be an Entrepreneur?
By Leon Gettler
Many managers eventually quit their jobs and to throw it all in and to branch out on their own as entrepreneurs. It’s a natural career path. But many are surprised at how tough it is, how much harder they have to work and how much stress it puts them under. So a lot of them end up abandoning those plans and going back to work as an employee manager. If you are planning to become an entrepreneur , the most important question to ask is whether you’re cut out for it.
Nicole Fallon at BusinessNews Daily gives us some warning signs to watch out for, signs that are telling you not to go there. These include not being comfortable with being uncomfortable, getting bored and frustrated easily, or being the type of person who likes to go in a new direction every 60 days, being uncomfortable with the idea of taking centre stage, not knowing how to handle the countless up and downs of the roller coaster life as an entrepreneur, being focused on complexity instead of simple solutions, refusing to embrace or not knowing how to go about marketing, getting easily winded by challenges and problems, refusing to take tough decisions or simply being in it for some quick cash.
Brian Tracy at Entrepreneur.com says entrepreneurs have the following traits:
“Entrepreneurs are optimistic and future oriented; they believe that success is possible and are willing to risk their resources in the pursuit of profit. They are fast moving and flexible, willing to change quickly when they get new information. Entrepreneurs are persistent and determined to succeed, because their own money and ego are at risk,’’ Tracy says.
“Entrepreneurs are skilled at selling against their competitors by creating perceptions of difference and uniqueness in their products and services. They continually seek ways to offer their products and services in such a way that they’re more attractive than anything else available.
“Entrepreneurs are capable of dealing effectively with the legal and governmental requirements of business. They’re creative and determined in satisfying regulations and acquiring the licenses necessary to do business. They are excellent problem solvers and are continually seeking solutions to the obstacles that inevitably arise.”
Tracy has a point but the problem with these descriptions is that they can describe just about any good manager. Being persistent, determined, good at creating points of difference and dealing with regulations should be part of their skill set. That could have zero impact on your ability to succeed as an entrepreneur.
According to Jessica Stillman at Inc.com it would be better to try it out first on a small scale and see if it works for you. She suggests getting some alone time in between classes or during lunch and brainstorming some business ideas. Then go out and get some feedback to see if it flies. Check out to see what other entrepreneurs in your field of interest are doing and talk to them. How do they build the business? Then finally, make a decision based on your research. That way you are not flying blind.