Not everyone is cut out for the stress of a new venture. Successful entrepreneurs will tell you that their success came from blood, sweat and tears, and maybe even a little luck. No training or education can get you ready for driving the success of a new venture; so how do you know when you’re cut out for it? Here are 10 signs that you have what it takes to be an entrepreneur.
1. You Can Handle Risk
One reason people stick to a safe, consistent job is that they know money comes in every month with little worry. It could be that they can’t risk the possibility of failure due to family and financial commitments, or they just want the comfort of knowing that they always have a paycheck coming in.
Entrepreneurs are ready to take the risk. They see it as a challenge and maybe have a plan B should the venture fail. They could have a safety net but always have a plan to make it work. They also handle risk well and don’t let it deter them from their goals.
2. Confidence with Your Idea
It’s easier to accept risk when you have strong confidence in your idea. Confidence isn’t learned. You’re born with it, and it usually comes with an idea that you strongly believe provides a solution to a problem.
Entrepreneurs exude confidence both in their idea and their own abilities to launch the idea. They usually have a positive attitude towards new ventures, and look at the world with a “glass is half full” point of view. This confidence greatly improves their ability to deal with risk and problems that arise as they deal with problems during the unstable startup phase.
3. You Approach A Problem with A Solution
No matter how confident you are in your idea, you should expect hurdles and challenges that will test your patience. If you approach these hurdles with an attitude that you can find a solution, then you have the right entrepreneurial spirit to make it work.
Entrepreneurs approach problems differently than the rest of the world. They approach a problem with the question: What is a good solution to solve this problem? This is why coders and web designers make such great entrepreneurs. They can code and design answers to some of the world’s problems with their skills in technology.
4. You Have Ideas that Don’t Fit into A Regular 9-5 Job
Most corporations love employees with ideas, but sometimes they go unappreciated. Sometimes your ideas don’t fit with the status quo in your organization. It could be a great idea, but most regular 9-5 jobs have certain rules and standards. Long-term organizations rarely deviate from their common workflow. This puts a stop on any ideas you have to make a change in the way the organization operates.
You can take your idea and turn it into your own venture. If this is something you’ve considered, you could have the right entrepreneurial attitude to make a change for the better and move on from the corporate world.
5. Salesmanship is One of Your Strong Traits
As an entrepreneur, you’re likely the only one in your startup at the very beginning of the venture. Partnering with someone else is a luxury, but most entrepreneurs start off with just their own idea and salesmanship.
You need to have the right salesmanship to sell your idea to investors, customers, and anyone else who can help further your ideas such as a software development firm. If you don’t have the ability to sell your idea, your venture will struggle. You can even partner with someone who brings this trait to the venture, but this is usually at the cost of equity.
6. You’re Persistent
Any successful entrepreneur will tell you that they struggled at some point during the startup phase. Some challenges are too difficult for people to handle, and they fold after a few bumps in the road. It’s important to know your limitations, but entrepreneurs are often persistent to a fault. This persistence can sometimes be perceived as stubbornness, but in a good way.
Drive and dedication lead to persistence, and confidence helps drive your never-ending desire to make your ideas work rather than quit.
7. You’re Never Happy with The Status Quo
Some people have a desire to look at current standards and improve them. Entrepreneurs aren’t happy with the status quo. They want to make things better using their own ideas and inventions.
Entrepreneurs find ways to improve process and workflow in every part of their lives. This can be using technology or other industries. Usually, the entrepreneur is an expert in their field, but it’s not always the case. If you see ways that things can change for the better in everyday life and you have the desire to fix it, you have the right spirit.
8. Building Solutions is Your Hobby
Entrepreneurs like building things. These “things” are solutions to problems. They do it in their personal lives as well as their work life. They see it as a hobby, and sometimes a hobby can become your main source of income.
The “things” you build could be for any industry including technology, finance, entertainment or travel. If you have an idea, it could be time to turn it into your future.
9. You See Opportunity Everywhere
This point goes along with the “see the world as a glass that’s half full” scenario. Entrepreneurs are not only positive minded, but they also see opportunity everywhere. This is what turns them into strong business owners that build a startup from a one-man idea into a strong organization with several employees.
10. You’re Always Competitive
Entrepreneurs are usually competitive. They have to be to compete with bigger businesses. They use their confidence, persistence and ideas to generate a competitive venture. Most entrepreneurs have been competitive since childhood. This competitiveness gives them the motivation to soldier on through the tough times during the startup phase, even if similar, competitive startups to theirs already exist in the marketplace.