Do you have what it take to be an Entrepreneur? -

Having a business of your very own is a dream many people have. Some of those people decide to act on it, but others are still unsure. Of those who act on it, some make it, and some give up because they didn’t know what it meant to be an entrepreneur.

In this video we lay out 8 questions to ask yourself to see if you’re “entrepreneur material”. Whether you’re just starting out or have been in business for yourself for a while, these 8 questions are a GREAT self-reflection exercise to gauge your own internal entrepreneurial spirit and behavior.

Watch the video Melissa made in 2021 – or read the transcription below.

So you wanna be an entrepreneur? You’ve read a ton of books, listened to a ton of podcasts, watched several hundred YouTube videos. You’ve gone to three or four seminars on different subjects, taken entrepreneurial classes, and seminars, attended retreats on the subject, have even filed for an LLC. Way to go, now what?

Do you have what it takes? Do you have the right stuff?

So Victor Kiam actually asked himself these same questions, back in the mid to late 1900s, even after he had graduated from Harvard Business School and worked for several years with Lever Brothers and even Playtex.

He asked the questions because he wanted to go out on his own. Now you may know Victor as the Remington razor guy, you know, “I loved them so much, I bought the company.” Those were his great commercials.

So see, Victor had this dream, he looked in the proverbial mirror and asked himself eight simple questions. Simple to ask, maybe not so simple to answer. If you are at the beginning of your journey or even if you’re well down the path, it’s a really good idea to contemplate these eight things, so let’s just take a minute, stop, be honest with ourselves, so that we can see more success and really scale our businesses to the next level.

Number one, do I have confidence in myself?

Because if you don’t, others won’t. They won’t follow you, they won’t work with you, they won’t invest in you, time or money. You need to stand out, be confident, and lead the way.

Number two, do you have confidence in your venture?

You can’t doubt its chances of survival before you even start or are ready to scale. Spend time deciding exactly what your business is, where you want it to go in the future, before you begin to scale and before you start. Talk to others in the field, talk to those who are where you want to be.

Number three, are you willing to make sacrifices?

Because being an entrepreneur has many benefits and perks, and although you can schedule your own work hours and days, please realize that owning your own business is 24/7. Have a plan for balance between life and work because the typical nine-to-five work is not what you signed up for.

Number four, am I a decision maker?

See, the buck starts and stops with you, so this is not an option for an entrepreneur. You must be able to make decisions, easy ones, hard ones, fast ones, and ones you can take time to make.

Number five, do I recognize opportunity?

Have you ever missed an opportunity, looked back and were regretful that you didn’t seize it? Don’t be that guy. Keep an eye out for new things and new ideas and what can work for you. Now don’t get distracted by shiny object syndrome, not everything that comes along is gonna be great, but evaluate and choose accordingly.

Number six, can I keep my cool?

You are the head of the band. Doesn’t mean you won’t be nervous, doesn’t mean a big presentation or a big client isn’t gonna kinda get under your skin, but you can’t be scared under pressure. You have to keep your cool at all times so that those who follow you, clients, partners, strategic business alliances, employees, can trust your leadership.

Number seven, do I have high levels of energy and stamina?

Warm baths and reading time at night? Nope. Being able to go out for an afternoon round of golf and a siesta? Not yet. Now although you can indulge in those some times, those life-giving activities, and you should for balance, they can’t be your focus when you first start, and they certainly can’t be your focus, during times of growth. Those times will come.

Number eight, am I willing to lead by example?

If you have employees, or partners, strategic business clients, alliances, you need to treat them as equals. Never ask them to do something that you’re not willing to do yourself. Make sure that they, and your customers, clients, and associates, everyone knows, that you’re all in this together to make it successful for everyone involved.

Now remember, the entrepreneurial road is not for everyone, but once you have evaluated yourself on just these eight aspects, and make a plan and set it in motion, you’ll be on your way.

There will still be ups and downs, but forge ahead, and always remember what Victor Kiam said.