Starting a Business is NOT Easy

Because you cannot get along with your colleagues and you have some cash in the bank to begin a business does not mean that it is the best thing to do for you. The truth is that owning a business is not for everyone. Not every person is made out to be an entrepreneur. Running a business involves skill, aptitude and the right personality. Before running headlong into your first business venture you should take time to think about who you are. When you invest your energy, time, and money in a venture, you want a good return and therefore need to make sure that you have what it takes. While many entrepreneurs and small business owners make a good living, there is no guarantee that you will do also. Having a business means that you must deal with your fears and deal with a lot of trials. It is not without risks. To find out whether owning a business is for you, start small. If doable start part time. That way you can test the waters and see if this is really something you want to do on the long run. Running a small business requires that you have the right skills and aptitude. If you lack skills in a certain area, then you need to make adjustments and take some courses to beef up on your not so strong areas. There are many reasons for small businesses to fail. However, if you have most of the following skills and traits the chances of success will increase significantly: Be a Self Starter. If you are a self-starter you have a better chance of making it. Owning a business can be lonely because you do not always have someone that you can bounce ideas off. You need at times take initiative to get things going and not rely on others to do it for you. This ability is especially important during start-up. Good People Skills are Important. Even though you don’t have to get along with your boss or colleagues when you have your own business, you still will be dealing with a lot of different people. That requires you to have good people skills. They are business partners, customers, bankers, employees, consultants, accountants, lawyers, or other vendors in your industry. You need to be able to develop good rapport with a varied group of people. Reputation is important in life in general, but particularly when you are running your own business. Always try to get along with people, and always aim for a win-win solution to business conflicts. That will go a long way in growing your business profitably. Be a Decision Maker. How are you when it comes to decision-making? Are you not afraid to make decisions? Your answer should be positive to that question as you will be faced with situations that require you to make decisions quickly, effectively, and on your own. You need to be able to work through tough issues yourself and not be afraid to make decisions. Yes, you will make mistakes, but that is all part of growing up as an entrepreneur. Be Committed to Hard Work. Running a business requires a lot of your time. You need to be able physically and emotionally 24 hours a day and 7 days a week. Not all the time, but when business requires such a commitment you must to be willing to step up to the plate and be there. If you are a family-oriented person, you will at times have to sacrifice family time. Research studies show that the first few years of the business are the most crucial as the business interferes with personal relationships. Even though your business will require total commitment at times, you must learn to balance personal and business. When things are slower make up for lost time with family and friends. Set Goals and Objectives. Are you organized? If not, take some courses and learn how to plan and set goal and how to work toward them efficiently. You have heard the saying: “Failing to plan means planning to fail.” A poor business plan or one with no plan at all, leads to certainfailure. Don’t rush into things without a solid and well designed plan. As an entrepreneur you need to persevere and have a lot of patience. Don’t fall for the many promotions that promise a quick get rich scheme. During these tough economic times you see these more than ever, especially in internet marketing and MLM businesses. Don’t fall for those slick sales pitches and do not rush too quickly into the next tempting business opportunity. Success comes through hard work, dedication and good management. And it takes time. There is no short cut to success no matter what others say. If you want more details, download our FREE eBook "Want to Start a Business?"