So you have a business idea and are dreaming of the day you can launch your startup. Before you jump in with both feet, it’s important to make sure you understand the risks and complexities of starting a new business. Do you have the skills and personality to run a business?
Do You Have These Entrepreneurial Traits?
Entrepreneurs are individuals with their own unique strengths. They see opportunities and have the courage to go after them; they are willing to learn from their mistakes and are determined to try again; and they enjoy challenges and finding creative solutions to problems.
- Do you have willpower and self-discipline?
- Can you adapt quickly to changing conditions?
- Do you have the stamina to work 12–16 hour days for months or even years?
- Are you prepared to lower your standard of living while your business gets off the ground?
- Are you prepared to spend all your savings on your business?
- Are you willing to re-invest your salary/business profits to help your business grow?
If you answered yes to most or all of the questions above, you might have what it takes to be an entrepreneur! Head over to our Research & Analysis section to learn how to test the feasibility of your business idea.