Daily Archives: February 12, 2019

Fit for the Biz: Signs that You’re Going to Be a Successful Entrepreneur

There’s no denying that entrepreneurship isn’t for everyone. It’s a passion reserved only for some people, just like all other vocations in life. What’s tricky here is knowing if you are meant for entrepreneurship. There’s no exact science to know for sure, but if you see these signs, they’re telling you that you’re fit to be in the business industry:

You always look for solutions to problems

Businesses are mostly ideas that meet people’s needs. Restaurants fill customers’ hungry stomachs. Online stores address midnight shopping urges. Tech companies make keeping in touch with loved ones, doing business, and getting information easier. The business industry is a big chunk of concepts brought alive to solve people’s problems. So, if you’re the type to always seek for solutions, then you’re not just destined to be an entrepreneur, but a good, successful one at that. This is the same perspective that you should be taking on when exploring opportunities. You always have to look at how the business meets the market’s needs. For instance, should you want to go into sub franchises, you must ask if there a strong demand in the community for such? Are people willing to pay for this? Ask the franchisor for market research so that you can review the latest trends on their target audience.

You aren’t afraid to take risks

The life of an entrepreneur is a gamble. At every turn, there’s a risk to take. Right at the beginning, even before the dream restaurant or office is built, some entrepreneurs already sacrifice their savings to fund their business — a risk that may or may not pay off later. In the middle of the business life cycle, you will have to gradually share management with a core team to solidify business growth. That’s a choice that may make or break the company you built. There are a lot more risks to take in business: expanding the product line, adding another store, getting a new business partner, and more.

happy man celebrating business success

So if you have that strong risk-taking attitude, welcoming uncertainties and opportunities to get out of the comfort zone, then you can surely thrive in business. Just know that there’s a good and bad way to embrace risks. Not every risk is worth taking. You also have to be smart in picking your battles. For that, you need to have mentors in your journey.

You are a people person

People skills are necessary for growing a business. After all, you’ll always be relating to people, from employees to clients to investors to partners, now and then. You need to build strong relationships with them to ensure that you have their support in your day-to-day operations. So if you’re a people person, then that’s a huge plus for you. The good thing about people skills is they can be developed. The key is practice. Get yourself out there in networking events. Attend seminars and conferences. Speak to fellow entrepreneurs even if it feels uneasy. Over time, you’ll gain confidence in approaching people and holding a conversation.

In the end, being an entrepreneur is a calling that’s meant only for some people. Do you have what it takes? If you do, then don’t hesitate. Don’t delay jump-starting this rewarding endeavor.