Saturday, August 29, 2009

Do You Know What Takes To Be Successful Entrepreneur?

By John Desmond

The images often rush through your mind of being an entrepreneur, there you are sitting behind your desk, setting your own schedule and never worrying about what the boss might say. You can almost feel the peace and joy that will be yours when all the cash starts rolling in.

Hold the phone, before you are booking a flight to Maui you need to consider one thing very carefully and ask this question: Do you have what it takes to be an entrepreneur? Are you cut out to be fabulously wealthy?

In order to be positive you should see how you rate on the following five topics, Can you / will you:

-Press on when there is no gratification, results are slow to come? In the beginning the sheer rush of owning your own business will color the way you see and feel about everything. Adrenaline will pound through your veins for days or even a month.

Unfortunately, the high does not last very long. Now you are faced with working long hours trying to make a go of it and all the adrenaline has dried up. The hardest part at this point is you are working diligently without any tangible results. Leaving you with little if anything to motivate you on to your goals.

So again, I ask you: Is it possible for you to stay with something without instant rewards? If you answered yes, it is possible that entrepreneurship will be just the ticket for you.

-Let go of a bad concept? Trust me nothing is worse than having to walk away from your baby, if you will. This is a part of you something you have spent a lot of time on.

No one is perfect and before you know it you can be neck deep in a bad concept that threatens the very life of your business. Is it in you to let go and move on to the next idea in spite of your emotional attachment to the plan? Do this part well and you are on your way to being a good entrepreneur.

-Have self-confidence and assurance in your own abilities? Many people will doubt what you are trying to do; in fact, some may even ridicule you. When you let their opinion affect you the battle is already lost.

If you have confidence in your capabilities and your proposal then you might have the stuff to be an entrepreneur.

-Have knowledge of the value of your products and service? A beginners biggest problem is knowing how to price their product or service. You will find them working hundreds of hours for peanuts. This occurs most frequently because of the value they put on the product or service they offer. If you tell yourself you would never pay x amount of dollars for something you are bound to price it too low to stay in business.

The thing you must keep in mind is that you are not the market nor are you the customer. If you have something good to offer your customers that adds value or convenience to their lives then you should earn accordingly. Do not worry if your prices are too high they will tell you about it.

Until that happens you should place a good value on the product or service you are offering. When you value what you are, offering you will be a good entrepreneur.

-Fix a Dilemma? This is the most important characteristic of all, are you the one to solve a problem?

When you are an entrepreneur problem solving must be your forte. The proverbial buck must stop with you in this business. There is no higher-level officer to do it for you. It will be all on your shoulders to find the problem and then solve it.

The biggest reason of all to be a problem solver however is for your customers. If you can find the thing that people are struggling with and then provide a solution you are well on your way to being a good entrepreneur.

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