Being an entrepreneur
Before you decide to start your business, what do you need to know about self-employment? You will find here some common characteristics of an entrepreneur.
01 Hard working & energetic
Self-employment requires a great deal of time and effort. The entrepreneur must perform a wide variety of time-consuming tasks. 77% of all entrepreneurs report working 50 hours or more per week, and 54% say that they work more than 60 hours per week. Such a time commitment requires that you have a high energy level.
02 Risk takers & locus of control
Entrepreneurs are risk takers. They risk their careers, time and money in order to make a success of their businesses. To be successful in self-employment, you should feel comfortable taking reasonable risks . Successful entrepreneurs have an internal locus of control or inner sense of responsibility for the outcome of a venture.
03 Integrity & determination
People often cite honesty and integrity as characteristics of entrepreneurs. Customers do not want to deal with business owners who are dishonest and unethical. You should feel positive about your ethical treatment of people and be committed to conducting your business with the utmost integrity.One of the most important characteristics of entrepreneurs is determination. This trait is closely related to self-confidence. The more you believe in yourself, the more likely you are to continue to struggle for success when faced with tremendous obstacles.
04 Family support & Independent
A successful entrepreneur needs family support. If you are married, your spouse must believe in your business because it will require that both of you sacrifice time and money. If you have children, they will need encouragement in understanding your need to spend so much time away from the family. The more positive support you receive from your family, the more you can concentrate on making the business a success.
Entrepreneurs also like to be independent and in control of situations. Many people who become self- employed consider the opportunity to be their own boss as one of the major benefits of self-employment.
05 Adapt to change & Good Network of Professionals
A new business changes rapidly, so an entrepreneur must be able to adapt to change. Two primary skills are required for adaptation to change: the capacity to solve problems, and the ability to make quick decisions. Another skill is the ability to learn from your mistakes. An entrepreneur also has a good network of professionals. This network provides access to those who can be consulted for advice, information, and referrals.