Self-Employed Success: Adopting the Be-Your-Own-Boss Mindset

Being your own boss sounds like a great adventure. So why aren’t there more people running their own businesses? Partly because it takes a certain set of skills and aptitudes which not everyone has. Some can be learned, and others are just part of who we are.

If you have a great idea and are tempted to take the plunge, first have a good look at yourself. Ask yourself, and ask other people who know you well, whether you will really enjoy this life.

Some Key Attributes

There are some things that mark a natural entrepreneur that are difficult to fake without rapid burnout.

How do you cope with risk? This is probably the most important question. The majority of startups fail, perhaps as many at 90%. Risk will always be with you, not just in the early years, so can you take it in your stride?

Are you visionary, creative, and flexible? You need to have a compelling vision of where you want to go, and be constantly looking for new ways to get there. Do you get a buzz out of solving problems, or do they get you down?

Are you independent? You will mainly be working on your own, and if your business grows it will always be lonely at the top. Do you have that essential stubborn streak while being able to listen to good advice?

Coping with Setbacks

One thing is certain: there will be problems along the way. How do you cope with disappointment and obstacles? Entrepreneurs need to have, or to develop, a positive and determined attitude which does not give up easily.

But they also need judgment—to recognize when something is not going to work and it is time to put their energy elsewhere.

They need judgment regarding when to follow their natural instinct to do everything themselves, and when to call in expert help. Someone crashes into your car in Illinois causing you to lose revenue—do you take up the case yourself, or will you call on a firm like Salvi, Schostok & Pritchard to free you to get on with your core work?

Some Important Skills

If you have the attributes, there are also skills that you will need to possess or acquire.

Can you be patient? It may take years to get to the point where things are going the way you originally planned.

Do have basic financial understanding? Businesses fail as often from cash-flow issues as from unprofitability, so do you know what makes the difference? You can always practice on your household budget or volunteer to help a local society.

Do you want to sell yourself and your product? Many people are put off by the experience of being the victim of a hard sell—but with confidence in what you have, you can learn how to enjoy it and do it well.

A Matter of Pros and Cons

In every major decision in life, the head needs to back what the heart desires. If you have the motivation and are aware of the costs, if you have the basic personality traits and are willing to learn the skills, then the self-employed life may well be for you.

Josh Rowe took the leap and started his own business 4 years ago, it’s the best thing he ever did. Always learning and wanting to share his ideas and highs and lows with others he occasionally writes for start-up business blogs.

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