I am going to tell you the truth that no one else wants to tell you. It takes a lot of work to be an entrepreneur, and most people are not cut out for it. You either have to be born a leader or you must be willing to work harder than you've ever worked in your life to acquire the skills necessary to lead a successful business.
According to the US Small Business Association, over 50% of small businesses fail in the first five years. The reason for this is simple. Most people lack the following leadership exercises necessary for success:
1. Determination: You must be willing to do whatever it takes to succeed. That could mean cutting out personal spending and reinvesting in your business. Or being committed to working extra hours in order to simultaneously build your business and develop any skills you're missing.
2. Patience: There's no use getting frustrated that the work you're doing today is not paying off today. Most people give up before they start to see the fruits of their labor. Use your failures as stepping stones, and over time, your branches of hard work will start to produce fruit.
3. Persistence: Fail and get back up. Fail and get back up. Fail and get back up. This is the mantra of most successful business people. Do not be so quick to throw in the towel. Success usually follows failure. In fact, many billionaires have been bankrupt at least once, including Donald Trump, Walt Disney, and Henry Ford.
With these three tracks, you can be successful in any business venture you undertake. Getting into business just because you have a passion for a certain field is a bad decision. If you're not willing to learn and become a good business person, you will not have a successful business.
If you have talent and passion, but you lack business skills, then you have a hobby.
Before leaving the comforts of a 9-5, where all the rules are laid out for you, your pay check is steady, and it takes very minimal work to be above average, really consider whether you have the entrepreneurial spirit to succeed.
If you're not quite ready to make the jump, start with changing your mindset. Look for every opportunity in your current job to be determined, patient, and persistent. Develop these skills well and when you're ready to take the leap.
Having your own business is not easy, but it can be one of the most rewarding experiences of your life. In order to reap the benefits, you must be ready and willing to roll up your sleeves and roll back your limitations.
Source by Kyana Mtima