Do you have what it takes to become a successful entrepreneur?

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Becoming the owner of a small business is easy – simply think of a brilliant idea or learn a trade and launch it on the world. However, becoming a successful entrepreneur is a completely different kettle of fish. It requires stamina as well as the willingness and ability to push on through when the going gets tough and, of course, the aptitude for solving problems before they even occur.

What differentiates the successful entrepreneur from the rest of the population is a mystery that has taunted the cleverest minds throughout history. It has thwarted logic and poked the finger of fun at those who would seek the answer… Ok, so this may be going a bit far, but it is an interesting question that we thought should be looked into!

Do you think you have what it takes to become a successful entrepreneur? Do you believe you are born to become a captain of industry? Do you wake up in the morning knowing you were meant for greater things?

Some people graft all their lives and never find their ‘big break’; others enter the world of small business ownership through circumstance rather than by design – perhaps through loss of employment or even through lack of employment opportunities – and some seem to find success effortless when they put their minds to it. But what separates these people? What is it that makes a successful entrepreneur?

Well, we know that to be a successful entrepreneur does not rely on sex, age, race or religion. It has little to do with money or education (in fact, studies have shown that these can sometimes be hindrances), and it is rarely the brilliance and ingenuity of a business idea that creates a successful entrepreneur – indeed, the road to business achievement is littered with fallen ventures that were once fabulous business ideas but just did not have the right leadership.

To discover whether you have the makings of a Branson, a Green or a Sugar we have seven questions for you:

1. Are you cut out for the stress? Starting your own business can be a stressful undertaking. You need to be mentally and physically up to the task. Every decision rests on your shoulder, every penny needs to be accounted for and the buck stops at your desk.
2. Can you handle the time commitment? If you believe that owning your own business will give you more time for yourself and your family then think again. Running a business – especially in the early years – is an all-consuming commitment that you and all those around you will have to accept in order for you to become a successful entrepreneur.
3. Can you live with financial uncertainty? It can take some time for a new business to generate an income. You may begin to long for the days of the regular, predictable salary that your comfortable office job as an employee gave you. Can you and your family survive in the meantime?
4. Do you have the support of those around you? Your family must be behind you 100 per cent – you must have their unwavering support through the lean times and, further down the line, through the good times. Make sure everyone understands the sacrifices involved at the outset so that there will be no familial discord.
5. Do you understand your motivation? Successful entrepreneurs are focused individuals. They know where they are headed and how to get there. So before you consider running your own business, know why you’re doing it. Do you want to become a successful entrepreneur in order to spend more time with your young children? Are you spurred on by the lure of success and the opportunity to make something out of nothing? Is it for the fame or the fortune? Know why you are taking this pathway and it will be something to focus on through the tough times.
6. How hungry for success are you really? Becoming a successful entrepreneur requires commitment, sacrifice and the tenacity to achieve your goals that most people simply do not possess. Are you willing to put in long hours, deny yourself life’s little luxuries and reinvest whatever money you do make into your business so that it succeeds?
7. How good are you at listening? A successful entrepreneur is someone who listens. You must listen to your market, listen to that little voice inside that guides you, listen to professionals and the media. Of course you also need to know how to discern which information or advice is not beneficial and to grow a thick skin to be able to ignore those doomsayers who would stifle genius.

If you’re single and unemployed with minimal outgoings and some savings then the leap to starting your own business may seem like a small one. But if you have dependants, a salaried job (however much you might dislike it) and financial commitments then starting your own business will be a big leap of faith. A successful entrepreneur lets their self-belief, unwavering zeal and determination loose on a business and commits themselves completely to its success.