Do You Have What it Takes to Be Your Own Boss?
To be in control of what you do for a living sounds good, but the
ability to make decisions, work long hours and take risks are just some
of the attributes you need to be an entrepreneur. If you're strong in
one area and weak in another, the business will reflect this.
The majority of us, if not all of us, have dreamed of being our own
boss at one time or another, but do you really have what it takes to be
your own boss? Here are a list of traits and how they relate to being
your own boss. If you can say yes that you could do it to all or most of
these, you probably will do well as your own boss.
1. Why do you want to be in business?
Write down exactly why you want to start
your own business. Take some time to get down all the reasons you can
think of. This'll help you to understand your motivation. The list below
might help you with ideas.
- Independence - to earn a living from your own ideas and control
your own future?
- Income - to have extra money to build a more solid future for
yourself/your family?
- Self Worth - to prove to yourself and to others that you can
succeed at what you are doing?
- Lifestyle - to be able to work flexible hours, to work from
home, to work part -time?
- Type of work - to be satisfied from your work efforts and do
something you really enjoy?.
2. What are your strengths and weakness?
- Make a list of the personal qualities that you think are your
strongest. What sort of person are you? What is it about your
personality that is most helpful?
- List your personal limitations. What parts of your personality
limit what you can do?
- Write down, in detail, exactly what professional skills and
experience you bring to the business.
Ask yourself how much risk you're prepared to take financially and in
other areas of the business (first make a list of the 'other areas' that
you feel are challenging for you)
3. What are your personal and professional goals?
- Write down your personal goals for, say, the first twelve
months, then for the next five years. What sort of person do you
want to be?
- Write down your professional goals for the same time periods.
What do you want to achieve as a business person?
When answering these questions, be specific and practical.
Once you've answered all these questions you'll see where your
knowledge and experience is valuable to your business and where you'll
have to make up for your shortcomings.
If you're weak in one area, perhaps you could form a partnership with
someone who has those attributes, rather than trying to get those skills
yourself.
You should also be able to see how your
entrepreneurial desire relates to other important aspects of your life.
Does it all add up to what it takes to run a business?
