Last week we spoke about the characteristics or traits of a successful entrepreneur. This week we will touch of the habits need to navigate the world of business. Working for yourself can bring many rewards, but it also comes with just as many challenges. Take a look at the questions below. They can help you decide if the entrepreneurial route is right for you.
Are you willing to take risks?
Going into business for yourself means giving up many benefits (such as health, paid vacation and sick leave) available to employees. It may also mean going without a regular salary, especially in the early years.
Are you willing to work long hours?
If you enjoy the 9-5 lifestyle and taking annual vacations, then starting a business may not be right for you.
Have you done your market research?
Do you know who your potential customers are? Are you convinced they will buy your product or service? Is someone already doing what you’re doing? What makes your product or service unique? Take the time to research the market before starting your business. Yes, market research is considered a habit as you need to continually keep abreast of changes to grow your business. .
Are you willing to market your product/service?
You may have a great product, but if you’re not prepared to market it and your business, you should think twice about whether business is right for you.
Are you willing to learn?
Combining your passion and your business is the dream of many budding entrepreneurs. But be prepared to learn all about the nuts and bolts of business as well – things like finance, operations, accounts, and customer service.
Do you have what it takes to lead?
If your business becomes successful, you may need to hire employees. Do you enjoy giving direction to people? Can you bring out the best in them?
So remember “Rome was not built in a day” and even if these habits are not currently part of your DNA, practices, practice, practice and they will soon become.
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“A wealthy person is simply someone who has learned how to make money when they’re not working.” – Robert Kiyosaki