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. Here we go:
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
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.
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.
Author: Marricke Kofi 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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