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  • Writer's pictureDel Chatterson

Can you succeed as an entrepreneur?

You may agree with the suggestion that anyone can be an entrepreneur, but remember that not everyone should be, and not everyone wants to be. The important question is what is right for you? Why would anyone want to be an entrepreneur, when we all know that:

  1. You will not really work for yourself, but instead for all the people that depend on you and have demands of you. These include employees, customers, the bank and the government.

  2. The world really doesn't care about you or your business. They have to be made aware of you and then be persuaded that you have a solution that they need. Effective marketing will be required.

  3. Most new businesses fail. Within two years it is likely to be over - having lost a lot of your time and money. And it will be your fault; for bad management, losing to the competition or not reacting to changing market conditions.

The first test of a successful entrepreneur is that you will still proceed with enthusiasm, in spite of all that discouraging information. (Just don't be stubbornly stupid about a bad idea. That is not a plan for success.)

In the opinion of many experienced investors and entrepreneurs, the key to success is a determined passion for your plan, in spite of the known obstacles. Those entrepreneurs will find a way to succeed regardless of the challenges along the way.

Completing a formal business plan is always a good start. It is the best way to test your assumptions and different scenarios in the market as well as alternative business models to meet your objectives. But the plan is less important than the passion for achieving your goals.

Be determined and confident, but be aware of the cruel world around you and realistic about what you can achieve.

Important perspectives to keep in mind.

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