Are You Cut Out To Be An Entrepreneur?

Overview

Defining the Dream

Clearly Focused

Preparing for Adventure

Lyfestyle Considerations

Successful Entrepreneur

Summary

Worksheet - Self Assessment

Worksheet - Values Checklist

Worksheet - Skills and Knowledge Inventory

 

 


Characteristics of the successful entrepreneur

Every entrepreneur is unique. Every entrepreneur has his or her own set of strengths, weaknesses, talents and abilities. However, entrepreneurs who have stood the test of time and have made a difference in their communities and industries do share common characteristics.

Optimism
Taking risks and paving new paths can only be accomplished with optimism. Optimism is a belief in the future, a view of what is possible rather then what is impossible. The ability to envision possibilities not yet proven. When you are optimistic you look for solutions rather then reasons for problems. You strive for ways to get things done rather then excuses to explain why it wasn't possible.

Tenacity and courage
Sticking to the goal, even when it means doing things differently, is tenacity. Many entrepreneurs speak of break-throughs which came only when they were told it couldn't be done. "Dare me" is the underlining theme of many successful entrepreneurs. Facing opposition, and those who believe it couldn't be done, only drives the successful entrepreneur to try harder. Risking your ideas, as well as your money requires courage and determination.

Well defined ethics and values
The successful entrepreneurs know what they stand for. They have a strong sense of values and business ethics which are guiding forces in their decisions. They know being true to themselves is more then just a cliché - its a way of operating. It will be important for you to determine what values you will stand behind in your business. What values you will use to make decisions and set direction.

Ability to listen and learn
Whether from customers, employees, advisors or the public, the successful entrepreneur is hungry to learn. Learn more about their product, marketplace, possible innovations and trends which will affect their business. They are quick to admit what they do not know and even quicker to seek the information needed to stay on track.

Self-control and discipline
Staying focused on the vision and managing the details means self-control and discipline. Principles of time management and positive work habits are important to the long term success of your business. Setting objectives and action plans which are essential to accomplishing important goals and insuring the accomplishment of those targets by yourself and others in the organization takes discipline and focus.

Self-confidence
A key characteristic of any high performer, including the successful entrepreneur, is a positive sense of self-confidence. It's confidence that enables people to try new things and effectively manage risk. It's confidence that will be needed to sell your plan to the bank or investors. It's confidence that will give your sales presentations the power of influence. Confidence is the result of programming your mind with positive and optimistic thoughts and plans. The support of friends and family can add to that sense of self-confidence.

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Production funding For Let's Talk Business was provided by a grant from USDA Rural Development and the members of Prairie Public Television