Have you been job hunting but, haven’t found an ideal
job that showcases your talents, education and interests? Let me ask you a
question: Have you thought about starting your own business?
I have to warn you though, making the leap from
employee to entrepreneur means changing not only your lifestyle, but also your
mindset. Before spending time, money and energy starting a new business, you
should ask yourself: Do I have what it takes to own a business or, am I better
suited to being an employee?
Here are seven questions that might help determine if
you have a business owner’s mindset:
1. Can
you start and finish tasks independently?
Employee Mindset: The
boss or manager gives you a task to be completed within a certain time period
and you’re expected to complete the assigned task.
Business Owner Mindset: Business
owners know how to, and even like to, work independently. They are willing to
take full responsibility for creating and completing their own work schedules.
To take this one step farther, if you are thinking about starting a home-based
business, you must also consider that there will be times when you’ll be
spending hours working alone, without the company and support of others.
2. Can
you set and achieve short and long term goals?
Employee Mindset: As an
employee, you are working to achieve someone else’s goals.
Business Owner Mindset: A
business owner takes on the responsibility for planning, marketing and
overseeing the success of their business. Running a successful business means
taking the time to formulate and implement a well thought out business plan.
You will need to write a concise mission statement, an innovative vision for
your company, short and long-term financial goals and a feasible and effective
plan of action.
3. Do
you have the self-discipline and self-motivation to work for yourself?
Employee Mindset: A boss
or manager sets and oversees your tasks and hours.
Business Owner Mindset: Successful
entrepreneurs are masters of time management and multi-tasking. Self-discipline
is a vital factor to growing a successful business. A business owner must be
consistently self-directed and self-motivated to do those things that will keep
his/her business moving forward. Self-discipline is about doing what you say
you’re going to do when you say you’re going to do it.
4. Can
you manage money wisely?
Employee Mindset: Someone
else takes all the financial risks for building a successful and profitable
business.
Business Owner Mindset: If
you decide to start a business, how do you intend to finance your business? A
key factor to starting a business is being prepared to handle the financial ups
and downs of opening and growing a new business. Are you willing to take
business classes, learn new money management skills and even hire professionals
who can help handle your finances?
5. Do
you know how to measure success?
Employee Mindset: Your
boss sets the standard by which they measure and reward your successes – pay
raises, awards, recognition, etc.
Business Owner Mindset: A
successful business owner knows, almost instinctively, how to set his or her
own internal and external “barometers of success.” As an entrepreneur you are
responsible for setting your own standard of excellence. It is important, even
before beginning your business, to be fully aware and understand your
“barometers of success” and how you professionally measure success. Do you
measure success by money earned, recognition received, etc.?
6. Are
you comfortable creating your own paycheck?
Employee Mindset: Your
employer is responsible for your paycheck, benefits and other job related
expenses. You can plan on getting paid regularly.
Business Owners Mindset: Business
owners are responsible for creating their own paycheck, retirement plan, taxes,
insurance, vacation pay, etc. There will probably be times when you won’t
receive a regular paycheck. Being your own boss means taking risks and living
with the financial uncertainty that often comes with owning a business. Are you
willing to take financial and professional risks? Are you willing to live with
the stress that often accompanies an uncertain paycheck?
7. Do
you know your professional worth?
Employee Mindset: An
employer tells and shows you how much you are worth by the amount they are
willing to pay you.
Business Owners Mindset: As
an entrepreneur, you determine your own worth!
After answering these seven questions, what have you
decided – are you going out job hunting or starting a business?
Biblography:
Forbes
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