Making the transition from employee to entrepreneur is a big jump.
It can fill any up-and-coming business owner with self-doubt.
How do you know you have what it takes to be an entrepreneur?
Sure, you might be great at your job – you might even be the best at it.
Maybe you’ve had a long successful career working for other people for several years – perhaps even decades!
But, being a business owner requires a whole different skillset altogether.
It also requires a certain mindset, as well as some personality quirks.
Think you have what it takes?
Take our unofficial quiz below and find out if you are cut out to be a business owner.
Do you like working alone?
Do meetings make you cringe?
Would you rather gather your ideas first rather than brainstorming with a group?
Do you lose track of time when you get in “deep” working on a project or assignment?
Do you feel distracted and unproductive working in an office full of people?
Are you self-driven? Self-motivated? Great at setting and meeting deadlines?
Being a business owner can mean doing a lot of work by yourself, so it is advantageous if you enjoy working solo.
However, human beings ARE social animals, so keep in mind that no one expects you to live in complete isolation if you decide to start a company.
Fortunately, there are many things that you as an entrepreneur can do to combat isolation and solitude, as long as you are committed to your own success.
You could make it a point to spend time with people and groups that energize you (rather than sap your energy). These could be business networking groups, industry clubs, or mastermind gatherings.
You can also make an effort to meet with clients face-to-face for coffee – perhaps they would like to show you around their office location or factory floor? This would not only be great for building rapport with your client, but you’d be learning more about them so that you may serve them even better.
You should also invest some time networking. Again, this is good for growing your business, but as an added bonus, it also prevents you from becoming a complete recluse. Having lunch with a few like-minded entrepreneurs from time to time will energize you and inspire you in ways you may have conceived on your own.
Some business owners feel they are more productive working around other solopreneurs. If this sounds like you, consider looking into joining a work share organization. You will not only get to work around other people who are building companies, but you will be able to share resources and benefit from constant networking.
Do you like wearing many hats?
When you run a business, you will likely have to wear many hats, at least in the very beginning.
You may find, when you are just starting out, that you’re not just a worker in your business – you’re the manager, the administration, the courier, the accountant, and the janitor.
As you get busy with building up your client base, you will quickly realize that this is not a sustainable way to do business.
This is an important period of transition for the business owner – it’s now time to hand over the reins and delegate certain tasks to qualified professionals.
After all, while it’s important that you have a handle on everything that is going on in your company, you want to focus on running your company, not getting bogged down in tiny details that can be managed by other people.
The delegation phase can be challenging – and shouldn’t be taken lightly. It is an important step to growing and sustaining your business.
You definitely want to make sure you recruit the right people to help you grow your business.
If you are able to wear many hats – at least for a while – you will make better choices when it comes to delegating those tasks to other professionals.
Are you a “big picture” thinker?
Do you like setting goals?
Do you like scheduling milestones and monitoring what works and what doesn’t give you a return on your investment?
Does marketing and branding excite you? Because, even if they have nothing to do with your work, if you own a business – like them or not – they are going to occupy a massive amount of your headspace, even if you hire an agency to take care of them for you.
Do you watch industry trends? Are you able to predict where your industry will be in a year, in 3 years, or in 10 years? Can you anticipate and respond to these changes? Does pivoting excite you or scare you?
If being able to think big picture in these ways appeals to you, you stand a good chance at being a successful entrepreneur.
If you’re not sure if you have what it takes to be a successful entrepreneur, ask yourself if you like working alone. Do you like wearing many hats and dabbling in many different roles where you work? Are you a big picture thinker? If you are honest with yourself and answered “yes” to these questions, then congratulations – your chances at being great at business ownership are high!