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[By: Daniel Sitter]
So, you want to be an entrepreneur. Good for you! That decision may the most exciting step forward you have ever taken. Entrepreneurship is a way a life, a choice, a decision to move in a particular direction. Entrepreneurs are all about innovation, about seizing an opportunity. Are you a self starter? Can you make timely, tough decisions? Are you in 100%?
This is not an article about the necessary mechanics of starting a business, rather one focusing on the entrepreneurial mindset necessary to effectively and profitably operate your new business.
How's your vision? Not your eyesight, but your ability to clearly see your goals materialize, to understand the marketplace, and be clearly focused and single-minded.
How are your nerves? Can you handle the pressure of the nay-sayers?
How are your decision-making skills? There is little room for fence-sitting as an entrepreneur.
Can you make things happen? Others will seldom see your opportunity as you do and certainly will not have the same motivation for success.
Can you inspire others to want to help you? Your network is a key component to your overall success.
Can you sell yourself and your ideas? Many entrepreneurs fear selling and have a lack of training regarding sales. This will certainly hinder your progress. Selling ability is a necessary skill.
How is your operating capital? Cash flow is often the killer of startups. Lack of long-term planning and vision stifles many new operations early on. Where is your operating capital coming from?
How are your personal cash reserves? Do you have enough cash to live on for at least 12 months?
Are you a multi-tasker? As an entrepreneur, you will be doing it all, often simultaneously. Are you up to the task?
Some people advocate the idea of keeping your day job while trying to get your fledgling business off the ground. Not so. Keeping that safe and cozy day-job robs you of the power of faith. Consider the following:
There is an old story of an English Admiral who was sailing towards a future battle where the odds were stacked against him. His ships would be battling an army for control of a certain parcel of land. Under the stealth of heavy fog, he navigated to a cove on the far side of land and unloaded his men, supplies and artillery. He then ordered the ships to be burned as he addressed the men. He said "There is no more hope of going home. We will be victorious in taking this land or certainly die here." Now highly motivated, they fought at a previously unheard of level of fury, being intensely focused and absolutely determined. They won.
Here are some suggestions to think about in advance of leaping into your new role as entrepreneur:
Select a niche. Narrow your market focus.
Design a detailed business plan.
Learn how to sell.
Strengthen, then utilize your network.
Be wary of partners.
Although not intending to be comprehensive, these questions and comments are designed to help stimulate your thinking process as you consider your entrepreneurial prospects in the New Year. Being an entrepreneur is certainly fun and rewarding on many levels. Be certain of both the requirements and rewards before you jump in.
Daniel Sitter, author of both Learning For Profit and Superior Selling Skills Mastery, has garnered extensive experience in sales, training, marketing and personal development over a successful twenty-five year career.
Read his blog http://www.idea-sellers.com/
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