I am sure many that have clicked this article expecting some sort of list that they can tick...maybe find out if they are really meant to be entrepreneurs. I sure looked for such lists to prove to myself that I wasn’t cut out for that....BUT maybe never found any that could actually tell me that I never could be!
However you would be shocked that starting a business is straight forward and simply needs someone with the following.
Guts means you must have either have an entrepreneurial instinct, which is an overwhelming desire to have your own business OR just good old boldness to go without a steady salary PLUS a desperation to do something for your self...that will outlast you
You must have the guts and dedication to be completely devoted to your goal. Incidentally, devotion to your goal is much more likely if you have a love for your intended business. Life is too short to start a business that doesn't give you satisfaction and joy. And, through good times and bad times, you will stick with something you love. As Solomon said, "There is nothing better for men (and women!) than they should be happy in their work-so let them enjoy it now."
Brains and even better....drive:
While appropriate educational credentials are important, entrepreneurial "brains" means more than scholastic achievements. Starting a business has little or nothing to do with whether you are the most or least qualified. To become a successful entrepreneur, you should have one thing...working knowledge about the business you plan to start before you start it. Followed by the will power to follow through on your endeavour plus some PRUDENCE!!!
Ideally, Every Business needs money of your own plus sufficient cash to maintain a positive cash flow for at least a year. If you have that no need to fear...if you don’t maybe 6 months would be fair. A spouse with a regular source of income might help. Every business must have enough for the owner to sustain him/herself without spending every income plus profit that comes in.
Try to cut off Excess Luggage...OVERHEADS
Many businesses can be started on a very small scale with a small investment. Then, as the business grows and you gain experience, cash flow from your business can be used for growth. In some cases, you don't need starting capital to hire other people because you might start by doing everything yourself. The "do it yourself" start is a good way to learn everything about your business and also makes you better qualified to delegate work to others later on. You can control your risk by placing a limit on how much you invest in your business.