Do You Have What it Takes to be an Entrepreneur?

If you’re creative, you’ve may have had ideas that you daydream about turning into businesses. But having a cool idea for an invention or a new way of doing something is a far cry from being the CEO of your own major company. Being an entrepreneur takes much more than being able to think of a way to solve problems. If you don’t have what it takes, you’re better off focusing your energy on other aspects of your life or handing off your ideas to someone who can incubate them to make them thrive. Here’s what it takes to be an entrepreneur. Some of them may surprise you.

Willingness to Work Nights and Weekends

An entrepreneur’s workday has no end. You can’t have the attitude that you stop working when the whistle blows. You need to be willing to spend your time working while others are sleeping or playing games online. This includes getting up the middle of the night to write down ideas or try new out new ones.

Fewer Family Obligations

It’s extremely difficult to be an entrepreneur if you have a lot of family claims on your time. If you’re in a family that takes road trips every weekend, or if you need to volunteer at school or chaperone school trips, your entrepreneur endeavors will either take a backseat or never get off the ground. It’s easier to be an entrepreneur when your time is your own and you don’t have to make excuses to your kids and your spouse for long hours spent at your workbench or desk.

Money in the Bank

Psychologically, it’s hard to be an entrepreneur if you’re chronically stressed about paying the bills. It’s literally impossible for your brain’s frontal cortex to work at full capacity when your amygdala is fired up from fear and anxiety. As an entrepreneur, you’ll also need some kind of disposable income to fund your ideas; purchase materials, pay for outsourcing, etc. Money in the bank is definitely a requisite for becoming a successful entrepreneur.

Willing to Take Risks

True entrepreneurs are willing to take risks in every form; from being willing to make mistakes the first 100 times they try something, to risking ridicule, to risking their own quality of life. If you’re firmly ensconced in your safety zone, entrepreneurship may not be right for you.

Be in Good Physical Condition

Being an entrepreneur definitely takes physical stamina and strength. Your entrepreneurial work will suffer if you have trouble climbing a flight of stairs, or are addicted to substances that make you drowsy, drunk or cognitively impaired. If you really want to make a go of being an entrepreneur, get in shape and drop any addictions first.

The main component of being a successful entrepreneur is being able to objectively decide if an idea is feasible. The qualities listed above will help you decide if it’s even feasible for you to be an entrepreneur to begin with. Because if you truly have what it takes, you’ll overcome every single one of them to achieve your entrepreneurial goals.

  Remember, wealth has nothing to do with money, success has everything to do with failure and life is as simple as you make it!” – John Dessauer

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