How Do You Know If Being an Entrepreneur Is Right for You?

How Do You Know If Being an Entrepreneur Is Right for You?

If you want to know whether or not you have what it takes to run your own business, read about these five things every entrepreneur needs to have in order to succeed.

Kayvon Kay
Kayvon Kay

March 2, 2022

5 Things You Need to Have If You Want Your Own Business

Does the thought of working for someone else scare you? Would you have more self-worth being self-employed? When someone asks you what you do for a living, do you cringe every time you have to say you work for someone else?

That’s how it is for many people. If you have that voice inside your head that won’t shut up and is persistent in telling you to take control of your life—if you have a dream or idea that keeps you up at night—then read on. Entrepreneurship might be what you’re meant to do.

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The problem is that being an entrepreneur is not for everyone. It requires certain traits, behaviors, and resources to be successful, and this article will go over five examples to help you decide if it’s the right thing for you.

If you want to know whether you have what it takes to run your own business, read about these five things every entrepreneur needs to have.

Running a business isn't for everyone.

1. Self-Starter Attitude

Being an entrepreneur means taking your livelihood and survival into your own hands. You need to be driven and self-motivated to get the work done so that you can support your needs and build the life that you eventually want.

This isn’t to say that you can’t turn to others for help in this regard. If you have the right people on your team, you can count on their support to keep your business going so that it eventually runs itself. Being replaced so that you can retire is the ultimate goal, after all.

2. Belief in Yourself

Do you have that inner voice saying that you could be doing something bigger and more rewarding? You need to listen to it. That is the congruency within you telling you that you need to do this. Step out of your comfort zone and show the world your business!

You might go through hardship for the first few months or years. Entrepreneurship is not an easy endeavor, but all the challenges will be for your ultimate benefit. It will show you what it takes to run a company, the heavy expectations that follow, and the consequences of failing to meet them. 

Once things start to click, business prospects will start to flow and turn into leads and then convert into sales, which is a feeling that is absolutely irreplaceable. In the end, entrepreneurship is a hard path, but it will let you reap much bigger rewards than the typical corporate career. 

3. Real Demand

To be successful at self-employment, you need an idea—a clever one. When this idea comes to fruition, you need to monetize it.

Take risks and make whatever moves are necessary to turn it into a reality. Know what people want and what would make their life easier. Ask yourself, “What service do people want that they don’t want to do themselves?” Think about needs.

If you can offer the public something they need, they will pay for it. This is a great starting point for a good, old-fashioned brainstorm. Once you find the public’s need, you have to ensure there is a demand for it. You must know that you can make money on it and get paid. 

Will they buy what you are selling? Most importantly, will enough people buy enough of your product or service to make it profitable?

4. Ability to Delegate

There is no shame in appointing a certain job to someone more capable. If it is taking up too much time or effort on your part, get rid of it. Why spend days on something someone else can complete in an hour? Not everything will be your strong point. There is no rule stating that it is not your company if you didn’t do the whole thing yourself.

Look online for qualified and vetted people to complete the work you need to be done. This could be editing, website work, or anything else. It can save you plenty of time and lets you focus your energy on tasks that you actually enjoy and are good at. This not only gets everything done faster; it also improves the quality.

5. Source of Guidance

One thing that has proven to bring business success time and again is finding the right mentor. This person should not be a friend or family member. Ideally, you should look for someone older and more experienced in life than you are.

This does not have to be the case for everyone, but typically, a mentor has a little more impact if they are older and have been around the block a few times more than you. This will also naturally increase your respect level.

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These are just some of the things you’ll need to thrive in business, but they’re excellent starting points to keep in mind as you make the best choices for your future.

Remember, being an entrepreneur is one way to take control of your life and steer it in the direction you want, but it’s a life that requires you to have certain things going for you. The good news is that you can acquire and develop all of them with time, especially if you have the right support on your side.
Partner with us at The Sales Connection so we can help your career move forward. Aside from connecting clients with the best sales professionals, we help businesses scale through custom-tailored strategies backed by decades of experience. Reach out to join our team or learn how we can work together.

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Kayvon Kay

Kayvon Kay

Kayvon has over two decades of experience working with high-level closers and perfecting his sales methodologies. He has earned the title of Canada’s #1 pharmaceutical sales representative and continues to share his expertise as a keynote speaker and through his multi-million-dollar coaching program.

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