Lots of dream of going into business for ourselves, and becoming our own boss. Having an idea for a business is only a small part of becoming a successful entrepreneur and becoming one isn’t always an easy thing. Not everyone is cut out to be an entrepreneur, and you should be sure you’re cut out for it before you make the leap. 

Do You Prefer To Work Alone Or With Others?

It might seem that liking to work alone would be a good skill for an entrepreneur, but in reality, this is better suited for those who just want to work freelance. Entrepreneurs also need to be good leaders, as your businesses will hopefully reach a point where you have staff and a much wider team to work with. Teamwork will be needed if you want to be successful. 

Do You Lose Sleep Over Work Problems?

An entrepreneur will need to be tough, with a thick skin for dealing with problems. However, if you’re going to start your own business, it’s essential you’re dedicated to your idea, and that might mean the odd sleepless night. 

If you’re more the kind who clocks off at the end of the night and leaves the office without another thought for the work you just did, then setting up on your own might not be for you. You need to be driven and excited about your work if you’re going to manage as a business owner.

Listen to an entrepreneur podcast to get a feel for how different leaders manage work issues, and figure out what kind of leader you are. 

Do You Believe People Or The Company Come First?

In reality, the correct answer is a balance. By taking care of the company, you take care of the people. Your staff need a company to work for that offers job security. If you focus too much on the individual needs of staff, you might overlook the company’s needs as a whole. 

For example, if the industry is struggling, and you’re the sort of company owner who wants to take care of their staff, it can be very hard to let any members of staff go. If you don’t actually have the work for them all, but you’re still paying all those wages, you can get into a very sticky financial situation where the company is in real trouble. The company has to come first. 

Do Tough Decisions Affect You?

It’s important to take tough decisions seriously, but you don’t want to dwell on them for days afterwards. Business decisions need balance. You need to be able to weigh up all the options in a reasoned manner, and understand the impact, but be able to move on afterwards without worrying about the choice that you made. 

As an entrepreneur, you’ll have to make tough choices, like firing people or cutting a bad client, and be able to carry on as normal afterwards. 

Are You Happy To Work Evenings And Weekends?

The answer should be yes to this question. In the early days of your business, you will need to be ready to work all the hours required to get your company off the ground. If you resent putting in the hours, you can’t expect your staff to put them in either.