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10 Questions Marricke Gane Asks to Help You Become An Entrepreneur Material

Many people come to me and tell me they want to become entrepreneurs. I usually start by saying, if you do your best to feed yourself every day, by whatever means reasonably necessary, then you are already an entrepreneur. Then I usually get the response, “Oh sir, I mean a business entrepreneur” – then my usual response is to fire them with 10 or so questions – some of which by attempting to answer, they get their own answers as to whether or not, they should go into entrepreneurship.

Everybody has it in them to become entrepreneurs (its latent) – but not everybody either has the discipline, or has developed some core elements of themselves enough to actually become successful entrepreneurs. There is an enormous difference between wanting to do something and being able to make a living at doing that something.

If you are contemplating the idea, then I have a few questions for you to help you do a self-assessment whether you should venture or whether you need to develop yourself further before you plunge into it.

entrepreneur

Here we go:

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1. Can you

      a. manage multiple issues, activities, people all at once or

      b. it’s best you focus and deal with one issue at a time?

2. Do you

      a. take every blame for tasks you are leading that go wrong, or

      b. ensure others take responsibility for their failures so they learn?

3. In the face of failure do you first

      a. continue to add value to those areas you can or

      b. analyze to find the cause of the problem and deal with it?

4. Is your motivation to become an entrepreneur to

      a. solve a problem or

      b. to become financially self-sufficient so you can help others too?

5. Do you generally prefer to take decisions with

      a. just a bit of information and your instincts or

      b. complete information that has been well captured?

6. Are you

      a. always on time or push yourself to be or

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      b. you do your best and accept that sometimes, circumstances will be beyond you?

7. Would you usually

      a. deny yourself some things in order to gain other things or

      b. prefer to do everything possible to get everything that is needed?

8. If you failed 5 times at one idea already, would you

      a. continue working at it or

      b. face the reality and explore other newer ideas with greater promise?

9. Do you prefer to

      a. spend time talking to potential buyers of your service/product or

      b. focus on making quality products for them to buy?

10. Do you prefer to

      a. spend time finding out about competitors or

      b. concentrate on making quality products and services?

I trust this has been helpful in letting you assess whether or not you have most of all it takes to run an enterprise. And let me say here – running a business is not the same as managing an office – you can employ people to do the latter and perhaps worth saying, you don’t need a fully fitted office to run an enterprise. I still run my training business in 3 African countries from my home office.

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And here is the answer to the self-assessment above – if you selected more B answers than A answers – you are not entirely ready to become an entrepreneur.

See how to raise funding for your startup by Marricke Gane.


 Author: Marricke Gane, a Ghanaian Certified Chartered Accountant, Entrepreneur and an International Development specialist. He is also a published author and a technology and economics enthusiast. A well renowned public speaker, he is well noted for deep insights into future business trends and challenging the status quo of Africa’s politics.


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ARTICLES

How to Gain Self-confidence as a Professional Trader

Confidence is one of the key ingredients which will allow you to trade the market like a pro trader. If you wish to build your career in the investment world, we strongly recommend that you learn to take the trades with strong confidence. It might take a while to get used to the overall concept of trading but once you become good at analyzing the market data, you can build your confidence level. But developing your skill in the retail trading industry is not that easy. You have to follow some specific rules and only then you can expect to become a full-time trader.
In this article, we are going to give you some advanced tips which will allow you to trade the market with a high level of precision. Once you become good at following the tips mentioned in this article, you will never struggle in the ETF trading industry.

Forget about the past trades

The novice traders get biased with the losing trades. They keep on monitoring the market and repent of their mistakes. On the contrary, the professional traders take smart steps and without any repentance, they look for the next trade signals. If you wish to develop yourself as a professional trader, we strongly recommend that you forget about your past trades. You can’t undo your past. Instead, look for the next trade signals strategically and try to find the solutions to this market.

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Trade with long term goals

You must take the trades in the market with long-term goals. Without setting up long-term goals in the investment business, it is very hard to stay tuned with the market changes. View the website of Saxo and learn about the importance of having strong determination in the trading business. Unless you are determined with your actions, you will keep on losing money most of the time. So, follow a conservative way and systematically take the trades. Once you become good at evaluating the key direction of the market, you can easily change your life.

Analyze the high impact news

Learning about fundamental analysis will improve your decision-making skills to a great extent. Very few traders in the retail trading industry have the skills to evaluate the fundamental data in the market. If you want to survive in the retail market, you must learn to take your trades systematically. Forget the fact that you are know everything about this market. See how the news data changes the course of the trend. As you become skilled in analyzing high-impact news, you will slowly learn to take the trades with strong confidence. This will also make you a better trader and let you systematically trade this market.

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Create a trading routine

To build strong confidence in the trading profession, you should trade the market with a balanced trading routine. Unless you take your trades with a proper trading routine, it will be really hard to bring any positive change to your trading system. As a trader, you might be thinking that you know every bit of detail. But this is not all true. In your trading routine, you must define all the basic rules. If you don’t trade the market with predefined rules, it will be a big challenge to make bring changes to your trading system. Follow the basic rules and trade the market with long-term goals.

Trade with low risk

You should always trade the market with low risk. Once you start taking the trades with managed risk, it will become an easy task to develop self-confidence. The majority of novice traders don’t have the strong skills to deal with the complex market. Usually, they aggressively take the trades and they lose a significant portion of the trading capital. So, trade with only 2% risk in the trades and it will help you to build strong confidence at trading.

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