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About half of Americans dream of opening their own businesses, according to a recent survey by the UPS
Store, but with 50% of small businesses failing within the first five years, how do you know if you're an entrepreneur ... or a "wanna-preneur"?
"When we go through recessions and people lose their jobs or are offered buyouts, many decide it's their impetus to launch their own company," says entrepreneur and business coach Daniel C. Steenerson. "But just because you can start a business doesn't mean you should."
Before you take the leap, Steenerson suggests taking an honest inventory of your skill set. He offers these ten clues that you're not cut out to launch a business:
1. You can't stand the heat.
Before you jump into self-employment, Steenerson says you need to be comfortable with being uncomfortable.
"Every day you'll need to try something new for the first time," he says. "Growth happens at edge of comfort zone. If you're unwilling to go there, you may not be cut out for being an entrepreneur."
2. You're on the quest for quick cash.
While profit is the result of successful business, it shouldn't be why you are in business, says Steenerson, who in 1997 launched Disability Insurance Services, a provider of disability insurance products, to fill a gap in the marketplace.
"You start a business to solve problems and serve others," he says. "If you do that the cash will follow, but it can take time."
3. You have professional ADD.
Starting a business isn't about chasing the latest shiny thing; it's about picking a dream and staying with it even when times get tough.
"Being an entrepreneur requires unwavering laser focus," says Steenerson. "If you don't have patience and are unwilling to push through the tough times, launching a business might not be for you."
Read more: http://www.entrepreneur.com/article/230471
"When we go through recessions and people lose their jobs or are offered buyouts, many decide it's their impetus to launch their own company," says entrepreneur and business coach Daniel C. Steenerson. "But just because you can start a business doesn't mean you should."
Before you take the leap, Steenerson suggests taking an honest inventory of your skill set. He offers these ten clues that you're not cut out to launch a business:
1. You can't stand the heat.
Before you jump into self-employment, Steenerson says you need to be comfortable with being uncomfortable.
"Every day you'll need to try something new for the first time," he says. "Growth happens at edge of comfort zone. If you're unwilling to go there, you may not be cut out for being an entrepreneur."
2. You're on the quest for quick cash.
While profit is the result of successful business, it shouldn't be why you are in business, says Steenerson, who in 1997 launched Disability Insurance Services, a provider of disability insurance products, to fill a gap in the marketplace.
"You start a business to solve problems and serve others," he says. "If you do that the cash will follow, but it can take time."
3. You have professional ADD.
Starting a business isn't about chasing the latest shiny thing; it's about picking a dream and staying with it even when times get tough.
"Being an entrepreneur requires unwavering laser focus," says Steenerson. "If you don't have patience and are unwilling to push through the tough times, launching a business might not be for you."
Read more: http://www.entrepreneur.com/article/230471
