Tips On How To Become A Successful Entrepreneur

Tips On How To Become A Successful Entrepreneur

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Entrepreneurs can be defined as people who create a new product and/or provide a new service and further develop their creation into a small business. Some noteworthy entrepreneurs include Bill Gates, founder of the Microsoft Corporation; Mary Kay Ash, founder of the major cosmetics corporation, Mary Kay Inc; and Walt Disney, owner and creative mind behind The Walt Disney Company. The following resources will help determine whether or not entrepreneurship is a suitable career choice.

Entrepreneurial Characteristics and Traits

Prior to embarking on any entrepreneurial venture, one must determine whether or not he/she possesses the personality required to be a successfully self employed. A good place to start is with the following questions.

Are challenges welcome in life?
Is achievement important?
Does self-confidence in one’s ability exist?
Is controlling situations enjoyable?
Are planning processes realistic?
Are persistence and organization possessed qualities?
Is uncertainty and risk acceptable?
Do tasks initiated end up complete?

People who answer “yes” to most of these questions, have the skills needed for self employment. Those capable of handling the life of an entrepreneur are also described as enterprising personalities. Typical characteristics attributed to enterprisers include: adventurous, energetic, optimistic, agreeable, extroverted, popular, sociable, self-confident, and ambitious.

The common work style associated with entrepreneurs includes a preference for leading teams toward the achievement of a specific a goal. They tend to place focus on the long term and motivate others to commit to aspects of a plan. An entrepreneur will be quite comfortable delegating work and typically look at a project in its entirety rather than small pieces.

Resources for Potential Entrepreneurs

Take this Entrepreneur Risk Assessment Quiz developed by the Georgia State University Small Business Development Center to assist with thoughts in regards to building a successful small business. Created as part of Youth Employment Services in Montreal, Canada this Business Start-Up Quiz will help determine whether or not self employment is the correct career path. While designed as part of a youth program, this quiz is relevant to all age groups.

Visit Canada Business – Services for Entrepreneurs for government information related to small businesses in Canada. This site includes such resources as grant and financing information, business planning, tips for hiring and managing staff, copyright and intellectual property facts, and much more. For entrepreneurs in the United States, check out the U.S. Small Business Administration for guides to business management, expanding products and services, increasing productivity, and expert support.

Careers as an Entrepreneur

Over the past few decades, there has been a significant rise in the number of people going into business for themselves. Some common occupational titles in the entrepreneurial category include: Marketing Executive, Purchasing Agent, Realtor, Investments Manager, and many more. As it is not a simple venture, it is extremely important to research all of the facts before taking on any entrepreneurial challenge. Any and all of the above resources are sure to assist in this endeavor.