We’ve been talking a lot about how to start a business — whether you should keep it simple as a sole proprietor or go full bore as an incorporated business.
One of the most important questions you have to ask yourself about entrepreneurship, though, is:
Are you the right person for the job?
I’ve been thrown into entrepreneurship. After several layoffs from jobs in the communications industry, I’ve decided to concentrate on freelance work.
It’s daunting to walk away from the opportunity of a full-time paycheque and health benefits. You’re on your own and there are few safety nets.
But the way I see it, “job security” is an idea from our parents’ generations.
Entrepreneurship is becoming the right way to go for Millennials, the 20-something generation, who find the Canadian job market isn’t as fruitful as they may have been promised.
Still, you have to have the right personality to go it alone as a business owner.
Do I have the right stuff to start a business?
Successful entrepreneurs often share personality traits.
You’re not likely to be surprised by most of them, especially if you’re reading this because you’re ready to make the jump.
No one needs to believe in you more than you do. Screw up your courage, learn your strengths and get them working for you.
Yes, it’s vital to know your weaknesses, too, and identify them as improvement areas, but you simply can’t second-guess yourself when you’re the one making all the decisions.
In addition to believing in yourself, you have to believe in what you’re doing, whether you’re providing a much-needed product or a unique service.
Your passion will give you the drive to win at every turn and even grow your business when it’s time.
A never-say-die attitude
Where would the hockey world be if Wayne Gretzky had given up after missing a few shots on net?
As an entrepreneur, you have to be prepared to face obstacles and probably even fail occasionally. To be a successful entrepreneur, however, you have to be ready to pick yourself up, dust yourself off and keep fighting for the business you believe in.
Just like your will to keep on fighting, you have to be ready to juke like Barry Sanders. You have to adapt to changes and challenges. That may even include adjusting your entire business plan along the way.
What you thought was a great idea may not work out or your learn something new about your target market that completely changes your thinking.
Be flexible, go back to your never-say-die attitude and fight again.
A tendency to break the rules
Rules? Rules are for the people who work for you!
Seriously, though, if you’re heading into entrepreneurship, you likely felt a little uncomfortable following someone else’s rules anyway. You didn’t fit in at that big corporation, knowing you were just a number.
When you’re a business owner, you have to be ready to push the limits and see past what everyone else is doing to establish your niche.
You’ll stand out from the crowd, get some attention and, along with it, build your clientele.
Do you have what it takes?
If you’re convinced you have what it takes to start your own business, give us a call. A1 Accounting, a Calgary accounting and bookkeeping firm, is here to assist Calgary small business with their startup needs, such as registration in Alberta and bookkeeping. We specialize in personal taxes and small-business accounting and financial services.
Fill out our contact form or give us a call at 403-226-8297.