When I coach entrepreneurs and prospective entrepreneurs, I challenge them with the following questions. Being an Entrepreneur/Business Owner can be very rewarding, but also requires a lot of work, dedication, and sacrifice. If you can’t answer yes to all or most of these questions, you are limiting and preventing your success as a business owner.
Can you spell entrepreneur?
- To be successful at something you must be able to spell it.
Are you do something daily to grow your business or grow yourself as a business person?
- On a daily basis, you should be working to grow your business. Actual business work, talking with other business owners, reading articles, listening to podcasts or audiobooks and studying your craft.
I don’t wait for people to tell you what to do? I am self-motivated!
- WAIT = Wish An Idea Turns out. Entrepreneurship is a proactive activity. If people have to tell you to do something, then you really don’t want to be successful. You must successful people in the world ask questions. Always Seek Knowledge. ASK for help, ASK for solutions and ASK. You must push yourself.
- The perfect time to start something is right now. Brainstorm, write a plan, read, study, join a Facebook or LinkedIn group, take a class, block out time in your calendar. The more you wait, the longer things will take.
I don’t treat my business as a hobby!
“Are you treating your dream (business) like a hobby?” - Kelly Duran
- A business isn’t a hobby. Hobbies don’t get you paid or keep the lights on. Are you treating your business like your child? (Showing it love, respect and dedicating your time, talent, team, and treasures to help it grow) A business needs attention and nourishment.
Are you producing more than you consume?
- Entrepreneurs are business owners. Businesses produce content, services, and products for consumers. Producers create opportunities for themselves and others to grow. Consumers are dependent on others to grow.
Are you investing more time in things that don’t help you grow personally or professionally?
- How do you invest your time? It’s ok to read and do fun stuff, but if you do more fun stuff than stuff that will help you have fun your business is in trouble.
- If you can’t invest even 10 minutes a day to grow your business or yourself, then your business isn’t important to you.
You’re not afraid to fail?
- Entrepreneurship is a series of failures you will learn from. If you’re afraid to fail, then your business will fail.
- To avoid major failures, learn from the failures of others. When you meet a successful entrepreneur ask them about their failures, not their successes.
Are you willing to sacrifice?
- What will you sacrifice short term or long term to have a successful business? Television, Social Media, Partying, Material items or Free Time. Success takes dedication and discipline. You can’t have everything, so you must figure out what you want more? What are you willing to give up to get what you want?
Does your community know you are a businesses owner?
- The first person you must sell on anything is yourself. If you don’t think of yourself as a business owner (the person responsible for the well being and survival of your business) then your community of friends, family and potential customers won’t think of you as a business owner either. It all starts with you.
Do you know your business inside and out?
- The idea of owning your own business sounds like fun, but it takes dedication and discipline. You must know the who, what, when, how and why of your business. Everything to make it flourish. When you don’t your business, it will fail. You must push yourself to know how everything works, so you’ll know what is needed for it to be successful. You can ask others to assist or help you when you don’t understand that you need help.