Starting your own business

You have been thinking about setting up your own business for a while. Often women find that the most challenging part of starting their own business is the early phase- the start off phase. Where do you start? Where to do you get the information? Where do you get ideas? While there are some people who have a natural gift for running and achieving success in their business ventures, there are others that need to work harder to achieve the same success. There are many things you can do to help you along the way of establishing your own business.

Are you entrepreneurial?
People who are able to identify opportunities and turn them into successful businesses are referred to as an entrepreneur. An entrepreneur is someone who identifies a need and develops a plan of meeting that need. Meeting the need usually involves the creation of a business plan. An entrepreneur always looks for new opportunities!

Entrepreneurs have the ability to identify new products or services, use new ways of developing and products or delivering services and develop new ways of marketing their ideas, products or services. Entrepreneurs are good at finding the resources to take their idea and turn it into a winning business.

What are these entrepreneurial attitudes, characteristics and skills?
Studies have shown that there are some attitudes (your outlook on things), characteristics (the way you behave) and skills (your ability to do something) that are found more often in those people who turn business ideas into successful business opportunities.

Entrepreneurial attitude
Your attitude is your approach to life, how you view things that happen around you. It is how you approach the things that you do. Here are some entrepreneurial attitudes:

Being positive
Entrepreneurs tend to have a positive or optimistic outlook on life. They are always enthusiastic about how things in their lives turn out. They take failure as lessons to improve on their performance as they move forward.

Achieving is important
Entrepreneurs like to achieve. Although money is important, it is more often the sense of achievement that motivates them.

Make things happen
Entrepreneurs don’t wait for things to happen – they make them happen. They enjoy the feeling of freedom and empowerment that making things happen provides.

Taking calculated risks
Some people say entrepreneurs are reckless because they like to take risks. However, entrepreneurs are not gamblers. Generally, entrepreneurs take risks when they have done their homework, have enough information and some control over the outcome of a situation.

Exploring and discovering
Entrepreneurs like to explore and discover things about themselves and others, in the process of turning ideas into business opportunities. Entrepreneurs want to know. They want to find out. They want to discover for themselves!

END: PG 36/24

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