Do You Have What it Takes to Run a Business?

Some of us start a business on purpose. We come up with an idea. We consult experts. We do research. We develop a business plan. And then we start our business. However, some of us fall into starting a business by accident. We find a way to turn our skills and hobbies into a profitable business. And no, I don’t feel that you *always* need a business plan. However, when it starts to get serious I do believe that you should set some goals. And some of us may think that we cannot start a business. Who starts businesses anyway? A lot of people do these days.

Here are some facts courtesy of Supercuts Franchising that may surprise you (1000 People with a net worth of over $200,000 were surveyed)

Now those numbers are just a small representation of those that start businesses. Not everyone is worth $200,000. 🙂 But if you are thinking about it, you should first decide whether or not you actually have what it takes to run a business. Ask yourself these questions:

1. Do I have the skill? This one should be a no brainer. You should only start a business doing something that you are passionate about… and that you actually know how to do! You have to be good at what you do to put out quality work. And of course if you love what you do, you will be better at it.
2. Do I have the patience? Running a business of any type takes patience, patience, patience. I think some people think that they will immediately see results. This is not the case in all business. If you start your own home business you have to take the time to build up your own listing of clients, you have to advertise, and you have to work to get results. And that can take a lot longer than some people think.
3. Am I outgoing? If you start your own business you need to be able to deal with your clients. You have to learn to like people. You need to network.  If you are an introvert it will come across in your interactions with potential clients.
4. Am I able to multitask? A lot goes into running a business. There is paperwork, working, advertising, learning, and networking. And of course you may have more than one project at a time. Being able to multitask is an important part of keeping all of that straight.
5. Do I need sleep? Yes, I really put this here. LOL! Getting a business off the ground is hard work. Many will tell you that when trying to get their business established they went on very little sleep. There will be late nights. But yes, you need sleep. You probably won’t get much! But be sure to get some.

Of course if you don’t think that you have the skills to start your own business from scratch you can consider buying into a franchise. There are some great ones out there that are guaranteed to get business with minimal setup. Check out the Supercuts Franchising website to learn more about one such opportunity.

Disclosure: This post is sponsored by Supercuts. All opinions are my own.