So
you think that you’re ready to become an entrepreneur? It’s not all glitz and glamour, and for most people, it takes dedication, time and a lot of late nights to get a business off the ground. Being an entrepreneur is one of the most difficult ways to earn a living, but also one of the most rewarding. These 15 signs, all backed up by successful business people and entrepreneurs, show the qualities you need to have in order to become a successful entrepreneur. How many do you see in yourself?
A Fiercely Determined Mind
The first thing that you will need to be an entrepreneur is ironclad determination. Someone that doesn’t give up at the first sign of difficulty.
When asked about what it takes to become a entrepreneur, Nitin Aswani, Founder & Head of Product of Oganikk Superfoods1 said,
You can brush off negative, non-constructive criticism; you know that if you want to satisfy everyone, you should just sell ice cream. You are driven by purpose and are passionate – you understand that money is an output of resolving customer problems, not the other way round.
Always Go For The Leading Role
When you work with people in a group, do you find that you can’t help but assume a leadership role? Do you take it personally if a project doesn’t live up to your expectations? Then you might have what it takes to run your own business.
Evan Harris, Co-Founder & CEO of SD Equity Partners2 explains,
The difference between a manager and a leader is vast. Just because you have held a management position for X number of years, does not mean you will succeed as an entrepreneur. To be a great entrepreneur, you must be able to lead. Your team needs to believe in your vision and trust that you can get them there. You need to inspire and incite passion. These are the qualities of a leader, not a manager. One who has these leadership qualities is on the path to becoming a successful entrepreneur.
Gritty? Okay.
A true entrepreneur isn’t afraid to get their hands dirty when needed, as did founder of Kent Dating3. He said,
In the early days of your startup, you will likely be doing a lot of the grunt work yourself until you can afford to hire some additional help. Be prepared to get into the trenches and get dirty, metaphorically speaking.
A Goer For Risks
Are you prepared to be yelled at by your customers the moment that something in your business goes wrong? As an entrepreneur, you will be in charge of dealing with difficult people. You’ll also need to be ready to give up time, comfort, and financial security if you expect your business to stand a chance. Evan Harris, Co-Founder & CEO of SD Equity Partners4 said,
Starting your own business generally involves taking a lot of risks. In order to be successful, you must be able to understand the risks involved in a decision but also know that there will always be risk and not allow it to hold you back. Someone who can assess risk and then make an informed decision, without being sidelined by fear, is definitely an entrepreneur in the making.
On risk-taking, Fred D. Winchar, President of Max Cash Title Loans5 adds,
You are a risk taker but only when the risk is in your favor. You don’t blindly risk but when you do, you are confident you will win.
A Contrarian
When everyone else says “why?”, you say “why not?” You don’t just want to go along with business as usual; you want to really mix things up and change the world for the better. Gene Caballero, Co-Founder of GreenPal6, is this kind of person who said,
One of the most important character traits of a successful entrepreneur is they have to be contrarian – but right. Contrarians are the ones that challenge the majority but have the stubbornness to see an idea through till the end.
Always Asking To Know More
Were you the kind of child that took the family appliances apart to try and figure out how they worked? You likely have the inquisitive mindset necessary to start a business.
Jeff Kear, Founder of Planning Pod7 says
Are you are always interested in learning other parts of the business in which you work even though they aren’t your responsibility and you might annoy others working in those roles or departments? When I had jobs prior to running my own businesses, I was always asking questions and looking into ways to improve how I worked and how the business functioned.
Unsettled With Traditional 9 to 5 Roles
Are you bored with your day job, doing the same task over and over? Does it all feel meaningless, and like you’re just undervalued and lining someone else’s pockets with your hard work? It might be time to get into business for yourself:
Ben Taylor, Founder of Home Working Club8 says,
If you feel constantly stifled in traditional jobs and convinced you could do things better, this probably marks you out as an entrepreneur-type – so long as those convictions are based on reality!
Kristen Gagné, Founder of Webtawks9 adds,
The typical 9-5 job feels wrong. You loath office politics. You detest being put in a corporate box. You don’t feel the value in working in a position that isn’t useful. You feel stifled.
Comfortable With The Unknown
Entrepreneurs are comfortable with the fact they may not know where or who their next paycheck is coming from: “You are more than comfortable losing everything you have until you succeed. Everything. You live your life “all chips in” and if you lose, you are prepared to live like a pauper till you get another opportunity to win” says Fred D. Winchar, President, Max Cash Title Loans.
Sarah Glass, Founder of Kent Singles 10 adds,
You’re comfortable with the unknown. You enjoy not knowing what one day will be like to the next. You enjoy the process of not having all the answers. Predictability is boring.
A Jack-Of-All-Trades
An entrepreneur wears a lot of different hats in their business. Early on in your business, you may be in charge of sales, customer service, accounting, marketing, manufacture, and other tasks all by yourself. You will definitely need to be able to budget your time and complete multiple different tasks.
On what makes you a great potential entrepreneur, Steven Benson, Founder and CEO of Badger Maps11 says,
When you have the basic blocking and tackling in each area of business – Sales, Marketing, Technology, Accounting, Finance etc. A big surprise to a lot of people who start companies is how much time they need to spend selling to be successful. You need to be a jack of all trades, because a big miss in any of these areas can be company killing.
A Doer Rather Than A Sayer
Many people sit and dream, but an entrepreneur actually takes action and turns their dreams into a reality. You can’t just think about great business ideas and have them magically happen; you’re going to need to actually put in some hard work. As what Fred D. Winchar, President of Max Cash Title Loans12 says,
The difference between a potential entrepreneur and a SUCCESSFUL Entrepreneur is the ones who can truly live a life that others fear to live and know others will mock you as you live out your dreams. Inside, your heart is burning to be more than just an employee and you know that you are relentless in your pursuit to make it. Their fear is not yours.
A Meticulous Planner
A good entrepreneur plans for any possible outcomes. You need to think in advance of any opportunities or risk that may impact your business and have action plans to adjust accordingly.
Steven Benson, Founder and CEO of Badger Maps13 says
I think that a great indication of being a potential entrepreneur is when you consider yourself a ‘planner’. That’s someone who really enjoys planning things, whether it’s events or business strategies. If you are going to run your own business, you have to get used to thinking a couple of steps ahead and you have to develop a concrete action plan to get started.
You also know how to manage your time on a day-to-day basis, Brandon Latack, President of 651 Lab14 , once said,
Deciding how you are going to spend your time throughout the day is one of the key aspects of being a successful entrepreneur. You and Elon Musk are both given 24 hours in a day. Use those hours wisely.
No Fear For Hard Work
You’re willing to roll up your sleeves and get your hands dirty. Entrepreneurs often put in 60 or 80 hour weeks in the first year of their business! If that sounds unappealing to you, you may want to stick to a salaried job working for someone else. Deborah Sweeney, CEO of MyCorporation.com15, says,
One of the greatest signs that you’re destined to be an entrepreneur is found in the hard work you’ve done over the years and the amount of initiative you’ve taken/shown for what you’re passionate about. Entrepreneurs embrace hard work and do not shy away from it. Rather; they enjoy it especially when it ties in with their passions. Ultimately, you become what you believe you will become and if you set your intention, stay focused and positive, and believe in yourself while working hard, great things will happen.
Fred D. Winchar, President, Max Cash Title Loans16 concludes
You have no concept of weekdays verses weekends. Every day is a day to work. Money is made 24 hours a day 7 days a week. Vegas proves that.
An Especially Innovative Mind
Ben Taylor, Founder, Home Working Club17, says,
With plans and schemes of making money since school, then that entrepreneurial spirit is probably in your blood – especially if some of those ideas were successful.
For people to buy your product, it’s going to need to be something new that they may have never seen before. You can take inspiration from other brand’s ideas and improve upon them, but merely copying a product or service that already exists isn’t going to make you rich. On this, Kristen Gagné, Founder of Webtawks18, says.
You always think of ways to improve everything – from the way to tie your shoes to the design of the picnic table in the park – you seek out efficiencies and betterment of your world.
Nothing Can Beat You Up
Entrepreneurs don’t take no for an answer! You’re going to have to stick to it when things get rough and don’t seem to be working exactly the way you had planned. Fred D. Winchar, President of Max Cash Title Loans19 also says,
When you fall, you are the fastest person you know to stand back up. Everyone falls. Failure is part of success. I have yet to know the successful entrepreneur who has not failed multiple time and had crushing losses.
On bouncing back from failures, Brandon Latack, President of 651 Lab20 added
There will be several roadblocks when starting a business. The bigger the idea, the more roadblocks there will be. [Entrepreneurs] think of each failure as a learning experience. Next time you will be ready for it!
Highly Disciplined
If you’re able to succeed in other areas of your life such as dieting or mastering a particular skill, then you may have the discipline required to become an entrepreneur.
Commenting on the discipline it takes to be your own boss, Nitin Aswani, Founder of Oganikk Superfoods21,
You are highly internally motivated – being your own boss can be a challenge for those who tend to slack off if there is nothing pressing.
Brandon Latack, President, 651 Lab22, also says
You have the discipline to stick to challenges. It’s easy to become less enthusiastic and talk yourself out of a challenge once adversity smacks you in the face. Entrepreneurs continue to push forward when things start to get tough.
So there you have it, 15 sure-fire signs that you’ve got what it takes to become an entrepreneur. If you answered yes to over half of these 15 questions, then you’re well on your way to making that dream of being your own boss a reality.
