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Do You Have What It Takes?-owning Your Own Business

Feb 26, 2008
Can you believe that one in ten adults in the United States today is an entrepreneur.

Entrepreneurship is a well know factor to the economic well-being of a country both in terms of economic growth and job creation. The traditional, entrepreneurial ability used to focus on the following three attributes:

-->Making A Decision - the business owner makes the basic business policy decisions for the business, therefore setting the course of the enterprise.

-->New Innovation - the entrepreneur is an innovator, attempting to introduce new products and new ways of doing things.

-->The Risk-taker - the entrepreneur is willing to risks his or her time, effort,business reputation and invested funds in the entrepreneurial venture.


Until recently, innovation and risk-taking, the above attributes, were the 2 dominating factors that defined the characteristics of those who wanted to become entrepreneurs.

Some entrepreneurs find themselves thrust into the role of owning their own business by default with corporate downsizing being a fact of life and us having no control over it,

Entrepreneurs are not just "born", believe it or not. Well, some, of course, seem to be naturally-born but for the rest of us, the qualities can definitely be acquired by hard work and application. For anyone either finding themselves in this position involuntarily or thinking about leaving corporate life for the heady world of entrepreneurship the question is, whether or not you have what it takes to be successful ... in other words the "right stuff".


Planning, finance and implementation are the "common denominator" issues or questions facing most entrepreneurs.

=> Planning

Most entrepreneurs face the challenge of starting a new business,be it through innovation (inventing something new or doing something a different way), finding the right opportunity to get into, or buying a franchise. Whichever road you choose, it will involve serious planning.


Unless you have saved money or have funds at your disposal,getting finance is a major challenge and cannot be attempted until your business plan is in place and up & running. You will need to prepare proposals and applications for loans, venture capital, and funds from angel investors.

=> Implementation

This is what will make or break you. Many people think just getting started is the hard part - and it is hard. But where many businesses stumble is not in the planning and financing stages but in implementing their business plan. The simple fact that implementation requires broad range of skills that no one person can possibly be adept at all of them.

Some of the areas you need to think about in terms of implementation are the same as those encompassed by a broad definition of management: public relations, sales, communications, technology, promotion (marketing and advertising), computer systems, bookkeeping, finance, taxes, and the internet.


The personal qualities of the entrepreneur are equally important .

Here's a list of work ethics and character traits common to successful entrepreneurs. Although it might not be necessary that you possess all of them, you should possess most:

=>Real Passion -most entrepreneurs have a strong passion for their idea or concept, and their work is their play. If you don't like what you do, you won't stick it out when challenges come along, as they probably will.

=> Professional - entrepreneurs are professional in their approach to work. They operate as they would in a corporate environment and don't allow themselves to be distracted by outside influences.

==>True Curiosity - entrepreneurs want to understand and know how things work. They ask a lot of questions. Curiosity then triggers innovation.

=> Sponges - entrepreneurs are sponges. They devour information about their industry and are always current on new and emerging trends and technologies.

=> Optimism - business owners think of problems as opportunities for improvements and new ideas.

=> Forward looking - entrepreneurs are never satisfied with the status quo and are always proactively carving out their future.

=> Self responsibility - entrepreneurs will take the initiative and personal responsibility for their success or failure of the business (which is usually a temporary state).

=> Competitive - entrepreneurs are naturally competitive and don't let the grass grow under their feet.

=> Conscious of Time - entrepreneurs realize the value of time and how to make the best of it. That said, entrepreneurs also recognize the value of downtime and time with family and factor these activities into their schedule

=> Nurture the entrepreneurial spirit - entrepreneurs nurture and seek out the entrepreneurial spirit in their employees and reward them accordingly

=> You must be Persistent - entrepreneurs must never give up. They persist until they succeed.

=> Resource utilization - entrepreneurs utilize ALL of their available resources.

Look At The Future of Owning Your Own Business

As you know, increasing numbers of people are choosing to work from home either through telecommuting or running their own home business.While this trend has been attributed to the growth in the number of working women wanting to be home for their children, a lot of people now working from home are men.

So, if you have decided entrepreneurship is for you, you can be sure that you are part of the wave of the future. But please know what it will demand of you and whether you are prepared to give what it will take.
About the Author
By: Jennifer A Thomas Subscribe for FREE to our Thoroughly Researched Make Money Daily Program. Learn Today's Internet Marketing Techniques, Tricks, and Tested Strategies. Learn to Work At Home with our Proven program -Guarranteed !
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