Have you ever dreamed of starting your own business but didn’t pursue this because you thought you didn’t fit the image of a “typical entrepreneur?”
Well, I have some great news for you: There is no typical entrepreneur. Joy Mangano was a young mother who had an idea for a better mop, which led her to build an empire. Maddie Bradshaw was a 16-year-old student when she started a million-dollar business that drew investment from NBC’s popular show, “Shark Tank.”
Success stories such as these illustrate that anyone can become a successful entrepreneur. There are no prerequisites. Rather, it is a mindset and a few character traits that will determine if you are ready to embark on this exciting journey of entrepreneurship.
Here are four important questions you should ask yourself to ascertain if you are ready to become an entrepreneur:
#1. Are You Prepared to Overcome Failure?
A deep-seated fear of failure is one of the most common impediments to becoming an entrepreneur. Despite this, it is important to understand that everyone has failed at one point or another—and this usually includes some of the most successful people in the world. For example, Steve Jobs failed big before turning Apple into one of the world’s wealthiest brands. Failure isn’t a permanent stain on your record or an indictment of your value.
Rather, failure is an invaluable learning experience. It can light the way to greater success in the future. In any risk-taking, creative endeavor, there is usually some chance of failure. But being able to understand this and gain invaluable insights are hallmarks of a great entrepreneur.
#2. Are You Passionate?
Passion is the fuel that drives success. This is what animates us and allows us to push through fatigue when we are exhausted. Passion galvanizes us into action, motivates us to dig deeper and spurs us to achieve more than we ever thought possible. Every great entrepreneur is passionate about what they do and has mastered channeling this burning call to action.
#3. Are You a Builder?
Part of the thrill of being an entrepreneur is creating something out of nothing. Building a new enterprise from the ground up and taking responsibility for every part of the process is very exciting and rewarding. If the idea of building something from scratch appeals to you, this is a strong indicator that you are ready to be an entrepreneur.
#4. Are You a Life-Long Learner?
The propensity and desire to be a life-long learner are key ingredients to being a successful entrepreneur. By cultivating a network of mentors and advisors, you can leverage their experience and connections to learn and help your business prosper. This is helpful both in good times and in bad. By seeking advice from experienced and successful entrepreneurs, you will be in a stronger position to thrive and to overcome adversity if the time comes.
Successful entrepreneurs are born from a variety of different backgrounds and circumstances. What they typically share in common is passion, a tolerance for risk, a love of learning and collaborating with like-minded collaborators, and a desire to build.