Five entrepreneurship strengths to build
If you’re attracted to the idea of being an entrepreneur in your retirement years, you need to know it’s a muscle you need to build. Here are five strengths that are required to be a successful entrepreneur.
Have a thick skin
It seems that as soon as you announce you are starting a business everyone is an expert in starting a business. Not everyone will love your idea or product, and they won’t be afraid to tell you. I’m not saying you shouldn’t listen to criticism, but you have to be able to take the punches and not take everything personally.
Get used to being constantly connected
As an entrepreneur, there really isn’t such a thing as “disconnecting” from the world, not in the beginning anyway. You’ll be living and breathing your new company while trying to educate everyone about your business. You’ll be constantly thinking about how to improve things, reduce costs, and sell more. There is no such thing as a 9-to-5 work schedule when you’re an entrepreneur.
Don’t look for constant praise
If you’re an employee, you’re probably used to getting constant feedback about your performance, tasks, and project completion. A lot of employees are even used to their bosses telling them how great they are—even if they know they aren’t. This is not the case for an entrepreneur. You won’t hear any of that unless you tell yourself. Your praise comes in the form of making money. And it’s going to be a while before you really get the praise you’re looking for.
Become your own motivation
Similar to needing praise, if you need external motivation, you shouldn’t be an entrepreneur either. When you wake up in the morning as an entrepreneur, there isn’t someone standing in your kitchen ready to give you that day’s tasks. It’s all on you. Get comfortable with being the person who motivates you to keep going each morning.
Learn to wear multiple hats
There are people I know that are only comfortable being an accountant, or a writer, or an event planner, These people are only comfortable doing one thing and, as such, should never be an entrepreneur. As an entrepreneur, especially a solopreneur, you are often putting on different hats, making a multitude of decisions and you need to be confident in doing so.
There’s a lot more that goes into starting a company, from business plans to corporate structures to get the right funding. But these core strengths are the foundation by which all those other things become successful. Because it all starts with mindset. If you don’t have the right one, all your efforts will be doomed to fail.
So, today, take a look in the mirror and ask, “How am I doing in these five areas?” If you find you need work in one area or more, build a plan and get to work today.
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