Not everyone is made out to be an entrepreneur. It takes a lot to start out on your own and if you didn’t know any better – and if you aren’t prepared – you would not want to do it unless you are sure.
We admit that entrepreneurship calls for a lot of things but most importantly, it calls for passion.
You might wonder why we mention passion — it’s because passion rules your future. It’s that one power you can develop that can fuel you through the vicissitudes of entrepreneurship. Everything stems from passion – the power to plough on, commitment, creatively, innovativeness, problem-solving ability, and much more.
Passion will drive you. It’ll make you rock hard, stay oblivious to the changes around you, and be independent of whatever life – and business in particular – has to throw at you.
Passion for building a legacy, for bringing about change, for making a difference – it’s this passion that’ll keep you ticking. It’s passion that’ll help you do the unthinkable.
Your passion will often rub off on others. Passion gives you tremendous energy and it’s this energy that’ll make others work for you. Your passion will be visible (almost tangible) and the world would want to take what you have to give. Customers will sense this passion, authorities will take note, press and publications will write about your business, and other businesses will want to be where you are.
Entrepreneurship is all about passion.
You either have it or you don’t.
When you start a business, you’ll develop delightful, scrumptious and memorable experiences that you will be proud to narrate and share with your grandchildren. Yet, it is still not made for everyone.
Business isn’t for sissies; it isn’t for those who can’t do without a secure paycheck at a certain date every month and it is certainly not for the faint-hearted. The act of letting go of your ultra-glorious, lip-smacking corporate job is not something everyone can do. Even if you did, you would have to be made of sterner stuff to stick to your decision.
We would like to bring you up on what it takes as quickly as possible and let you know everything you need to know so that you can take an informed decision. Nothing can hurt as much as ignorance can and that’s why learning is such a crucial step.
First, things first:
Let’s do a self-check on whether you are cut out to be a entrepreneur or not, here’s what the reality is.
Please do answer these questions and don’t do what you usually do when you see these fill in the blanks in some self-help books. Don’t just glance through it without a pen or pencil (or maybe your favorite digital equivalent). We implore you to “write it down” because it has a nerve center connection to your fingers and when you write things down, they are firmly entrenched in your mind.
Why did the thought of entrepreneurship come up?
Why do you want to start on your own?
Do you like taking charge?
Are you a go-getter?
How comfortable are you with sales — the prospect of meeting new people and discussing matters with strangers?
Do you have any qualms in approaching strangers?
Enumerate your skills, background, past experience?
What does it really take?
The most wonderful aspect of starting your business is the fact that half your battle is won just by taking the plunge. By shifting yourself into a realm of unknown you open innumerable vistas for your success.
If you had answered the questions above, you can cross-check this section to see if you can make it in the big league world of capitalistic freedom — the world full of gladiators called ‘entrepreneurs’.
This is the stuff entrepreneurs are made of, take note:
The desire to be on your own
No, we am not talking about the need to be on one’s own because you have been fired or because you hate your boss. We are not even talking about the possibility of you being born in a business family so ‘Doing Business’ is just an extension; a predicted course of action for you. No, this doesn’t make you any successful that what you would be at your day-job.
We are talking about the blazing flame inside your stomach; that relentless and tireless voice in your head that literally screams into your face and conscience and reiterates the fact that “ This is not what you are meant to do “; “ You are meant to do something different” and “I am better off being on my own “.
You got to have this insatiable desire to start your own business and take responsibilities for your own life. If you have it in you, then go for it.
Thirst for wealth and a tendency to provide value
In spite of the prevalent social stigma attached to earning wealth — linking this to being greedy and almost anti-social– this is a primary motivation for most people. Let’s not ignore that fact. Of course, this should not be your only guidepost while charting the course you would be taking for your business.
Here’s the fun part: the really successful business owners really do begin to get it at one point (you will get it now) that money automatically follows when you have sound business practices, great products and services and appropriate systems in place. You don’t run after money (wasn’t that the primary reason why we look at entrepreneurship such that money begins to work for you instead of the other way round?)
Risk, and the bottom-less appetite for it
One stark difference noticeable in most successful entrepreneurs and ordinary folks with a mundane day job is the risk-appetite. Entrepreneurs are intrepid. They have an inane ability or would have developed the ability to absorb any negative ramifications that might occur when something goes wrong — ideas don’t work; ideas back-fire; money is lost; deals go sour and partners or employees sometimes walk away on you.
All of this is has been an investment on the entrepreneurs’ part and each time the entrepreneurs have invested, they took a risk. Risk-taking ability, by far, is the most distinguishing factor that separates the men from the boys, and the women from the girls.
Do you have it in you? Are you willing to develop it to a level that makes you successful?
Creativity. Problem-solving. Calm head on shoulders
You can’t afford to be throwing tantrums — this was something you could have done while working somewhere. You don’t whine like a baby anymore and as if this isn’t enough, you have to be thinking on your feet, forever.
You will have to solve real-life, and more specifically, business problems, which will make or mar your future. You need to be innovative; have boundless imagination; a knack to think quickly and rationally; and never losing your composure, no matter what happens.
The ability to make decisions
Here’s another one of those things you won’t find elsewhere: the ability to decide quickly. This comes entwined with the ‘risk-appetite” that we talked about earlier, but has a charm of its own. All successful entrepreneurs have no choice but to be very decisive.
They need to make decisions solely based on their experiences, information, situational experiences or sometimes they need to do it just on the basis of raw – confidence and gut-feel. This trait basically leads to action. Taking action is half the battle won. So, even in the worst scenario, the entrepreneur is well ahead of the pack simply by virtue of having decided.
Learning. Reading. Being a life-time Intern
Look at any self-made millionaire or any wealthy person’s profile and you are likely to notice that all of them have a penchant to learn new things. Be it something that has got to do with their business or weekend pursuits, they do it incessantly.
If you are wondering as to why they might want to learn new things, it isn’t any rocket science. They do it to keep themselves well informed because of the sheer beauty of the fact that ‘learning makes you a winner’.
Humility and Character
When you are about to sell something to someone, it is “you” who is going to be sold first.
Having said that, what makes you think that you would be doted on if you were abusive, rude and rustic by nature? Successful entrepreneurs are humble people, almost always accessible and approachable.
If you ever did a sales call, you will recall that these top guns are the easiest ones to grab an appointment from (even if they are busy) and the gnomes (the middle level managers and gate-keepers) are the most difficult to approach. By making yourself humble and full of great character, you are opening your doors to a world of opportunities just by being congenial.
Self-motivated, determined and driven
No one became successful because someone else wanted him or her to be (of course, you have well-wishers, but that’s mere wishing; not pushing). To be a successful entrepreneur, you will have to be self-motivated, not wait for things to happen but rather be able to ‘make things happen’ and be self-driven. Your obstinate refusal to give up on the face of adversity is going to mark your successful business career. How deftly you manage to propel yourself during your inevitable and much welcomed lean phases is going to the determinant factor for your success.
Now, are you cut out to be an entrepreneur? Do you have it you? An ecommerce store or not, can you make it happen? Let us know what you think.