Do You Have What it Takes to Start a Business?
Here is a brief excerpt of the traits an article by Jim Hopkins of USA Today says are required to start a business:
Childhood experience
You didn't rely on allowances and other handouts from your parents for spending money when you were young.
Entrepreneurial genes
In the nurture vs. nature debate, there's new research showing that the drive to start companies may be genetic.
Family support
Prepare for crazy-long hours, including weekends, during a company's startup phase, a workload that's also taxing for an entrepreneur's family.
Money doesn't motivate
Two of the United States' most famous entrepreneurs — Bill Gates at Microsoft and Warren Buffett at Berkshire Hathaway — are also the two richest Americans.
Passion
You don't just think you've built a better mousetrap. You feel it in your gut, and know the world will be much better if only you can get your idea to market.
Pragmatism
As passionate as entrepreneurs must be to drive startups forward, they also know when to cut losses.
Risk-taking
You know startup success isn't guaranteed. Still, you don't flinch at the thought of betting your severance pay or retirement savings on self-employment.
Strong ethics
Startups depend heavily on good first impressions when entrepreneurs hire employees, court investors and line up customers.
Tech ease
Feeling comfortable with technology is crucial, because computers, software and other gadgets are key to launching a business in the fastest-growing economy, the service sector.
Tenacity
Sometimes the best business ideas fail to take hold, not because there isn't demand, but because the startup was undercapitalized, or the entrepreneur lacked management know-how or simply gave up too soon.
Read the full article Do You Have What it Takes to Start a Business?
Entrepreneur | admin | 02 September 2006 |
