Starting a business is one of the proven paths to building wealth. The ownership of a successful business brings prestige and pride to its owner.
We love to hear stories of individuals who started with nothing and made a fortune from starting a business. Don’t you?
If you were to survey most working adults globally… you’d find that most of them have a desire to start a business someday.
My opinion was strengthened when I checked the stats about entrepreneurship.
Most young people under 30 years want to run their own business. That’s the finding from a survey done by the university of Phoenix on entrepreneurship published in an article by Inc. magazine.
The survey found that 63 percent of people in their 20s owned or were starting businesses.
In addition, 55 percent of those who were not entrepreneurs hoped to start someday.
Starting a business is a growing trend
If you think the trend toward entrepreneurship is limited to the United States …then think again because the movement is worldwide.
An article published in The Economist on global entrepreneurship by Price Water House Cooper showed an uptrend in many adults interested in starting their businesses.
The report showed that Australians were the most enthusiastic about starting a business. And had the highest rate of follow-through in the 21 countries surveyed.
These surveys point to healthy signs of the desire by most individuals to take control of their financial future.
Before you quit your job or start a business part-time…
I think you need to understand your mindset to succeed as a business owner.
The Four traits for Starting a business
What are the healthy signs that you’ll succeed at starting a business? You need four traits.
Terri Lonier, an authority on microbusiness and bestselling author of Working Solo 2E: The Real Guide to Freedom and Financial Success with Your Own Business, says that four main traits are essential in starting a business:
- You must be a self-starter
- You need to commit to lifelong learning
- You need to be optimistic
- You need to outgoing
You are a self-starter
Terri says you’ve got to know what you want and want it so badly that you’ll wake up in the morning and go for it.
If you are the type that needs someone to tell you what to do and when to do it …then starting your own business will freak you out.
Why? Because when you start a business… you are your boss and must have the self-discipline to accomplish your goals
The opposite of a self-starter is a procrastinator.
Procrastinators underestimate the time they need to complete the project and put pressure on themselves. This leads to guilt, avoidance of doing things, and failure in business.
You are outgoing
An outgoing person is someone who enjoys meeting people and understands their value of it.
Why? As an independent business owner, you must showcase your abilities and services to as many people as possible.
The best way to showcase your business is by meeting people face to face, so they start to know you.
You are committed to lifelong learning.
As a free agent, that is, someone who owns your own business, you must be committed to self-education.
You must set aside time and funds for this because that’s the way …you can stay ahead in your industry.
Regarding self-education, I use the advice from the late Jim Rohn, an authority in self-development, as my guiding light.
He says when you work on yourself, you’ll make a fortune. This means when you invest in your self-education, you’ll reap more returns than the money you invested.
You are Optimistic
You need to be an optimist to be a successful business owner.
Someone who recognizes that things may not be perfect starting a business.
Having the right attitude that things will turn out well if you are going on the right path.
An optimistic attitude to succeed in starting a business is crucial.
Okay, we have covered the many signs that you’ll succeed in business.
Ask yourself this question: Do I have these positive traits to succeed in starting a business?
If you have most of these traits, that’s fine. You’ll likely succeed in business.
On the other hand, if you fall short, you can also start cultivating these attributes.
Remember this: All skills can be learned as long as you have a desire and commitment.
