5 Signs Entrepreneurship Is for You
Entrepreneurship isn’t for everybody, but there are a few ways to tell if it could be for you.
Starting your own business is a goal for many Americans, and we’re fortunate enough to live in a country where we have the freedom to pursue that goal. But while entrepreneurship is open to anyone with an idea, it takes ambition, hard work, and discipline to successfully run your own business. If entrepreneurship was easy, everyone would do it! But the fact of the matter is that some people are more cut out for the daily grind of business ownership than others.
It’s probably safe to assume that most of us like the idea of working for ourselves, even if we’ve never taken the steps to do so. You can still have an entrepreneurial spirit without being an entrepreneur! Ambition, hard work, and discipline aren’t exclusive to business owners. But for those who are more serious about trying their hand at running a small business, here are five signs that entrepreneurship is for you.
While entrepreneurship is open to anyone with an idea, it takes ambition, hard work, and discipline to successfully run your own business.
1. You’re full of ideas… good ones
All it takes is one good idea to create a business plan, but you’re going to need to be more than just a one-hit-wonder if you want to sustain success as an entrepreneur. Your well of ideas for new businesses, projects, and innovations should never run dry. You have to be a problem solver of the highest order. Even getting one company off the ground requires a ton of trial and error. You’re going to have to rework and rethink certain issues in your business model, and you can’t do that without a creative mindset that’s full of new ideas.
Now, of course, you’re going to come across a few bad ideas while you’re brainstorming, but that’s part of the process. The key is to come up with enough good ideas to keep your business afloat after that first idea runs its course. This same philosophy can be applied outside the realm of entrepreneurship as well. Even if you don’t have your own business to run, you should still always be looking for new ways to improve your performance. You can even brainstorm ideas that you think could help the company as a whole and share them with upper management. Business owners want employees that think like them—always looking for ways to propel themselves and their companies forward. See, there goes that entrepreneurial spirit again. Don’t be afraid to speak up and share those good ideas if you have them.
2. You love to shop locally
When done right, entrepreneurship usually involves caring for local communities. Especially the ones you call home. Small-business owners usually arise from seeing something their community lacks and coming up with an idea to solve the problem. Shopping locally is a good way to tell if you’re really invested in the well-being of your community. Do you participate in community service activities? Do you stay up to date with the political landscape in your town, city, and state? If you’ve already got an interest in things like that, and you have some ideas about how you could improve your surroundings, maybe you should look into entrepreneurship! Or running for mayor.
3. You’re a self-starter
A major part of the entrepreneurial spirit is being able to motivate yourself. At CF, we call it being a “self-starter.” Taking initiative is CRUCIAL when it comes to entrepreneurship. And while being a self-starter is a skill that can be learned, you may be well suited for entrepreneurship if taking initiative comes to you more naturally. Being in charge of a business is a lot of responsibility. And with no one looking over your shoulder, it’s easy to be distracted if your eyes aren’t on the prize. Being able to hold yourself, and others, accountable is possibly the most important trait an entrepreneur should have. Plenty of people have had great ideas, but couldn’t handle the day-to-day of managing themselves and their employees. Having a vision is one thing, but being a self-starter goes a long way on the business side of entrepreneurship.
4. You have people skills
Being an introvert doesn’t rule you out from the entrepreneurship sweepstakes, but lacking people skills could really hinder your progress in getting your business off the ground. You need to be able to sell your product. Part of that is done with marketing and advertising, but before you get allotted a marketing budget you’ll have a business plan, a product, and your word. Have you ever seen Shark Tank? Well, presenting your business plan to investors is a real thing that happens. You need to be able to get people on board, because a lot of times, the product doesn’t speak for itself. You need to be likable and persuasive to form partnerships, attract customers, and network within your industry.
Like I said earlier, not being able to do this doesn’t mean you can’t be an entrepreneur, it’ll just make your road a little tougher. A lot of times, an entrepreneurial partnership will consist of two people with complementary skill sets. One person is the talker and the other stays behind the scenes and is more in tune with the day-to-day. Think Jobs and Wozniak. Steve Jobs was known publicly as the face of Apple, but it was Steve Wozniak who did most of the early product engineering and design. If presentations and networking aren’t your strong suits, it’s nice to have someone you trust to help fill that role.
A competitive edge translates perfectly into business whether you’re in the C-Suite or on the sales floor.
5. You’re a natural competitor
Business is a competition. Any entrepreneur will say they want to provide the best product and the best service, but what sets the great businesses apart is going the extra mile to achieve their goals. You’ve probably heard the saying, “competition breeds excellence,” well, there’s a lot of truth in that! Seeing other businesses approaching your level of service or success should only make you want to improve. If you’re the type to rest on your laurels while others catch up, entrepreneurship may not be for you. There’s a reason a lot of companies like to employ former athletes. A competitive edge translates perfectly into business whether you’re in the C-Suite or on the sales floor. Having a competitive nature is part of the larger entrepreneurial spirit that makes you want to not just be better––but be the best.
Do you have any tips to share for other prospective entrepreneurs? We want to know! Tell us on social media!