Top 3 requirements for an entrepreneur

Posted on February 21, 2008

Most often, people have strong misconceptions about entrepreneurship and usually they fear about the things they shouldn’t be fearing. After 3 years since I founded my company together with 2 other partners, my way of seeing things about entrepreneurship and owning a small business changed dramatically.

I remember quite well, my first fears were about getting enough customers to cover the costs. Having that unique idea that could make the business successful. WRONG! Now I think the most important things are having the following:

  •  The right attitude. (I failed at this)

Stay positive. I know it’s hard, especially in bad times. But looking back, being negative, having stressful/sleepless nights never helped me to actually solve things, and moreover it had a bad influence on my partners as well.

  •  You need to know everything and deal with everything - when you start small. (I failed at this)

You need to know everything that you can’t safely outsource. If you come from a regular job, working for the Man usually gives you the opportunity to specialize in one domain and ignore the rest. But if you run a small business, you need to know how to provide the service, talk with the customers, make invoices, clean the office, get loans and everything else.

  • It’s a people thing (I failed at this)

You have to have people skills. Again, when you are working for the Man, you usually get in contact with the same people each day.

a)If you are a Small Business Owner you need to get along with everybody: bank clerk, client, supplier, and most importantly with your employees.

and

b)Don’t forget about your family. Success is never true if you are alone.

And still, I have failed all the 3 things that I feel are most important for an entrepreneur. And we survived 3 years. That’s why the entrepreneurship fear is such an non-sense! It should be illegal! (but I still fear :)

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