Entrepreneurship in the United States is at an all-time high. According to the 2015 Global Entrepreneurship Monitor, there are now 27 million Americans of working age starting or running their own businesses, more than at any time in the study’s 16-year history. Are you ready to join them? Here are five signs that you have what it takes.
Your Life Is Stable
Periods of change can bring about a clarity that can inspire you toward a new business venture. However, you’re much better off waiting until your life stabilizes before becoming an entrepreneur. The birth of a new child or a recent retrenchment may be motivating forces, but experts suggest taking time to absorb your new circumstances before jumping in. Starting a new business is stressful, so you should be on an emotionally even keel before making the leap.
You’re Easily Bored
It might seem at first glance that people who are easily bored would lack the focus and determination that starting a business requires. However, history suggests the opposite is true. Think of Bill Gates, who slept through most of his college classes before dropping out to start tech giant Microsoft, or Sir Richard Branson, who famously suffers from Attention Deficit Hyperactive Disorder and launches one new business venture after another to keep himself amused.
People who believe they’re easily bored may simply be bored by the tasks they’re given. In the corporate world, people often find themselves in roles that don’t challenge them or their abilities. When running your own business, you can call the shots and make sure you stay engaged.
You Love to Learn
Taking a challenging role in corporate America might seem like the most natural fit for someone with a thirst for knowledge, but in fact, working for yourself is a better option for people who love to learn. According to the Amway Global Entrepreneurship Report, 84 percent of respondents believe entrepreneurs like learning new things. Starting your own business through Amway could be just the right step.
This sentiment was echoed by Business Insider’s Martin Zwilling, who wrote that the most successful entrepreneurs he knows invest time and money in growing their knowledge base. They network with successful entrepreneurs and investors. They are voracious readers, devouring tales of successful start-ups and the people behind them. They attend courses and seminars and work with mentors who can pass on their business knowledge. In short, they never miss an opportunity to deepen their understanding of the business world and ways they could improve their own operating practices.
You Struggle With Small Talk
We all know entrepreneurs need to be personable to win over investors, inspire a workforce, and charm clients. So you might be surprised to learn that business owners are notoriously bad at making small talk.
According to Grant Cardone, writing for Entrepreneur, business owners typically feel that small talk is a waste of time. They prefer big talk about real, bigger issues that matter, rather than chit-chat about the weather and the latest TV shows. He concedes that many people take comfort from small talk, so it may be advantageous for you to use it at times, but you needn’t think of your reluctance to engage in chatter as a personality flaw.
You Can Handle Failure
There’s a perception that successful entrepreneurs aren’t afraid of failure. However, there are many leading businesspeople who admit the thought of failing scares them. Writing for Entrepreneur, Peter Gasca suggested a fear of failure isn’t something for businesspeople to feel guilty about. Instead they should leverage this fear as a motivator for success.
You will never make it as an entrepreneur if failure leaves you so paralyzed you are afraid to leap. However, the kind of curiosity that drives innovation can bring failure, and when you fail, you learn. The ability to handle your failures, then pick yourself up and try again with this wisdom behind you can be one of your greatest assets as a businessperson.
It takes more than deep pockets and a natural head for business to succeed as an entrepreneur. If you can identify with the points above, you might have what it takes to run your own business.