THE MOVERS

November 22nd, 2011

So You Think You Can Be an Entrepreneur?

popquiz1

There is an enormous difference between wanting to do something and being able to make a living at doing that something. Have you ever watched the American Idol audition shows and witnessed a tone deaf singer’s shocked reaction when the say he or she will never have a shot at becoming a professional singer? The same thing can be true for entrepreneurship.

Being a successful business owner requires investing your own money in addition to a ton of time and effort. Despite the appeal of being your own boss, the reality is that not everyone is cut out to be a successful business owner.

Here are five quick personality assessments to evaluate before taking the entrepreneurial plunge:

Are you Santa or an elf?
Entrepreneurship requires managing a wide variety of tasks as part of the business, from marketing and accounting to training, customer service and more. Can you wear multiple hats, as Santa does with Christmas, or do you prefer to be the elf that loves to execute specific tasks? Do you take initiative or do you want clear instructions? Santas make better entrepreneurs than elves do.

What’s your relationship with money?
Starting a business requires money to start, to operate and for you to live on while it scales. If you are a big spender and aren’t great at managing money, those bad habits are likely to follow you into a business. And if you are usually unable to make worthwhile investments in the future of your business for fear of ending up living in a cardboard box if things go wrong then you may end up penny wise and pound foolish, as they say. Having a solid, non-emotional money relationship will help you make wise business decisions.

Are you comfortable flying blind?
The only thing that is certain in business is that nothing is certain. Are you comfortable with being uncomfortable? Can you handle taking educated risks and surviving the constant ups and downs of owning a business? If you are looking for the certainty or a drama-free zone, you may find yourself terrified of the entrepreneurial roller coaster.

Are you ready to commit?
Running a successful business is not just about having great ideas. It’s more about strong execution. So, if you have a hard time staying focused, you are lousy with commitments and you’re averse to the idea of working day in and day out on the same thing, then entrepreneurship may just be a passing fancy for you.

Carol Roth is a Chicago-area business strategist, deal maker and author of the New York Times bestselling book, The Entrepreneur Equation. She is a former senior executive with the investment bank Montgomery Securities in San Francisco (now Banc of America Securities) and a graduate of the Wharton School of Business at the University of Pennsylvania.

Were you born for business?
Were you interested in business as a child? Did you seek out entrepreneurial roles in school, in social organizations or even in your previous job? A natural inclination of past interest in entrepreneurship seems to be a good potential indicator of future success.

Think you’re cut out to be an entrepreneur? Or are you still unsure? Take this informal quiz to see how your answers compare with the popular profile of today’s successful entrepreneurs.

Click here for the quiz.


About the Author

Socialtik Mag
Socialtik Mag is a progressive platform for young, aspiring professionals to express our views on the issues and ideas in the world around us. It’s the Gen-Y perspective of life in the new decade. In addition to the original content we produce, we post from sites around the internet to keep our peers aware of what’s positive, what’s fresh, and most importantly, what’s progressive.




 
 

 
fundamentals-of-pitching-to-investors

Perfect Pitch for an Investor’s Home Run

Angel investors can provide you not only with the money to take your small business to the next level, but also real-world experience, advice and a cache of industry connections. But are you giving investors the information t...
by DeAndra Harrison
92

 
 
business

Do You Really Have What it Takes to Run a Business?

Few people are suited to be their own bosses. Most people want a regular work routine. Their lives are based on forty-hour work weeks and steady paychecks. When people tell me they want to start their own business, I ask them w...
by Socialtik Mag
229

 
 
pivot-or-persevere

Be Persistent or Revolve? The Keys to a Successful Startup

Every entrepreneur eventually faces an overriding challenge in developing a successful product: deciding when to pivot and when to persevere. A pivot is structured course correction designed to test a new fundamental hypothesis...
by Socialtik Mag
53

 

 
fashion-design-team

So You Think You Can be a Designer?

Sometimes Fashion Designing sounds like a dream job, right? Unfortunately, it can also be one of the hardest professions to get into. However, with hard work, it can be done. There are many types of Fashion Designers. Some work...
by Socialtik Mag
48

 
 
What-Do-Community-Banks-Do

Can You Count on Your Community Bank?

For  years, the conventional wisdom was that small, community-based banks were good places for entrepreneurs to do their banking. It was easier to build a relationship with a local loan officer who lived in — and cared a...
by Socialtik Mag
31

 



192 Comments


 
 

  1. I’m new for the weblog planet but I am looking to get began and develop my personal. Do you will need any html coding understanding to produce your very own weblog? Any aid could be significantly appreciated!


  2. Good post. I was checking consistently this blog and I am impressed! Quite useful information specially the final component I care for such info much. I was looking for this distinct info for a pretty long time. Thank you and best of luck.


  3. Magnificent beat ! I would like to apprentice although you amend your web-site, how can i subscribe for a blog internet site? The account helped me a acceptable deal. I had been slightly bit acquainted of this your broadcast presented bright clear idea


  4. As I web site possessor I think the content material right here is rattling amazing , appreciate it for the efforts. You must maintain it up forever! Good Luck.


  5. It was extremely beneficial for me. Retain sharing such tips in the future also. This was actually what I was trying to find, and I’m glad to come here! Thanks for sharing the such information with us.


  6. Thanks really valuable. Will share site with my friends.


  7. I wanted to know if anyone has used it and how well it works. Thanks in advance..


  8. You have done really nice posts. There are many people searching about that now they will find enough sources by your tips.


  9. Good essay writers are not those who provide good writing services but they are the ones who provide capable services to students that can help students achieve good academic ranks and also help them in getting the worth of the money that they spend in their studies.


  10. I wanted to know if anyone has used it and how well it works. Thanks in advance..


  11. WAHANA FILTERTECH adalah perusahaan penyedia peralatan, distributor dan kontraktor pengolahan air bersih (WTP) dan pengolahan limbah (WWTP/STP)


  12. I’m glad you share with us the useful information. Please keep our date. Thank you for your sharing.


  13. You have done a great job. There is no doubt that I will bing project together with the proposed separately to my local friend. I’m sure they will be benefited from this site.


  14. Now I realize that I had been correct. lol! Thank you for that information you article.


  15. This is a good article, I hope you continue writing! You will be a great writer!


  16. Every time I log in to your website, I feel happy. I am very happy.


  17. I’m really happy to find this site. I just want to say your article is valuable!


  18. Love is hard to get into, but harder to get out of.Love is a light that never dims.


  19. I miss you so much already and I haven’t even left yet!


  20. Life is the flower for which love is the honey. No words are necessary between two loving hearts.


  21. Take away love, and our earth is a tomb.My heart is with you.


  22. I feel happy already allowed to comment on this article. . . I am very impressed with your writing …
    Jelly gamat healin


  23. If you need to understand a history of little league, you ought to admit that for reasons unknown, humans have a very natural craving to quit things. Of your house to relieve frustration, or perhaps for exciting, we make this happen even with no noticing. http://www.scorespro.com


  24. thank you for sharing, I was delighted to find this web site


  25. very useful info for everyone, thanks for sharing with us


  26. great share! I already bookmarked this website and visit occasionally


  27. Excellent post. This is a very interesting web site that I will definitely come back.


  28. I believe that ‘being lucky’ is required to become successful as well..


  29. very good points… These are the must have capabilities to become a successful entrepreneur.


  30. I took the quiz and it seems I am not a suitable candidate for entrepreneurship. I personally believe I am not either..


  31. excellent post. You give the idea of entrepreneurship clearly..


  32. an idea is nothing alone.. execution is the biggest factor that contributes to real success!


  33. Positive site, where did u come up with the information on this posting?I have read a few of the articles on your website now, and I really like your style. Thanks a million and please keep up the effective work. 


  34. However, if you turn it over to God he promises that you will see the big picture in the hereafter. Nothing is too small to be a mistake. diasis care capsule


  35. I will keep smiling, be positive and never give up! I will give 100 percent each time I play. These are always my goals and my attitude.
    penyakit jantung


  36. I am very happy to read this. This is the kind of manual that needs to be given and not the random misinformation t hat’s at the other blogs. Appreciate your sharing this best posting.


  37. You should comment on the competition comparison of the blog. You can highlight it’s mind boggling. Your blog exploration/tour will broaden your conversions.


  38. I’m happy to find so many useful info here in the post, we need work out more techniques in this regard, thanks for sharing.


  39. formulate the design and technology decisions necessary to make sure successful technology implementation projects
    Leeds Skin |


  40. Never let your head hang down. Never give up and sit down and grieve. Find another way. And don’t pray when it rains if you don’t pray when the sun shines. jenis obat herbal untuk mengobati asam urat


  41. Thank you for sharing this post!!!!!


 
 



Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Twitter Users
Enter your personal information in the form or sign in with your Twitter account by clicking the button below.


thru 9/26 - Fall Sale. 30% Off select styles. Disc