If you choose to learn more about a particular venture by working for another organization, be aware of non-compete clauses in your employment contract. In some jurisdictions, these clauses can be very restrictive. You don’t want to risk your future projects by violating the rights of another entrepreneur or organization.

Is Running a Business for You?

Armed with this information, assess your skills in each of these areas. The harder you work to build your skills, the more successful you’re likely to be.

Having said that, many successful business-owners are impulsive, uncomfortable with risk, or belligerent with colleagues and customers. Still others have little business knowledge, and have simply hired the talent they need to succeed.

You can succeed without some of these skills, however, the more you’re missing, the more likely you are to fail.

As you work through your analysis, you may feel that you’re ready to take the plunge into your own venture. Alternatively, you may decide to wait and further develop your skills. You may even decide that entrepreneurship isn’t for you.

Whatever your choice, make sure that it feels right. Running a business isn’t for everyone.

Key Points

While there is no one “right” set of characteristics for being a successful entrepreneur, certain general traits and practical skills will help you succeed.

By examining your own personal strengths and weaknesses and comparing these with those of the typical entrepreneur, you can get a sense of how well this career will fit with your personality.

Remember, becoming an entrepreneur is a career decision like any other. Do your homework, look at your needs and desires, and then decide whether this path is for you.