Top 5 Ways to Know if You’re Cut Out to Be an Entrepreneur – Part 2

Top 5 Ways to Know if You’re Cut Out to Be an Entrepreneur – Part 2

This is a continuation of Part 1.

There will be seasons in owning a business where you’ll have a lot of wins and there will be certainly seasons when you’ll have a lot of losses. But whichever way the seasons blow, you must be ready and willing to do whatever is necessary to adjust with the times.

What is extremely important and connected to the characteristic of malleability is resilience. You have to be able to adjust and maneuver to whatever is happening in your business and you have to be equally able to recover from setbacks that occur as well.

You will undoubtedly hit obstacles and adversity along the way. So, you must be able to recover quickly from those trials and struggles to land back on your feet and be able to live in your business another day.
 

business-strategies
 

3. Are You a Problem Solver?

One of the top things that you will do as an entrepreneur is solve problems. Each day will offer you the opportunity to discover new ways of solving new challenges that face your business. Doing so will grow you in ways you can’t even imagine. So, problem-solving, and the ability to do so is a quality that is necessary and essential as a business owner.

4. Are You Open to Growth and Learning?

Entrepreneurship is all about learning and growing. If you are not interested in either, the world of entrepreneurship is not for you. Most entrepreneurs go into business without ever having any business experience or knowledge. Although not the best way to go into business, most of these entrepreneurs end up learning on the job. You have to be willing to adjust your thinking, adjust your doing and be open to ideas and concepts you never imagined before.

If learning and growing is not on your list of ambitions or if it’s something you’re resistant to doing, entrepreneurship is definitely not the right option for you. However, if you are open to learning different ways of thinking, different ways of being to improve all levels of your business and of yourself, then entrepreneurship very well may be a great opportunity for you.

5. Do You Have Faith and Belief in Yourself?

Entrepreneurship is not the career to go into if you have low self-esteem. Why? Because the challenges you will inevitably face as an entrepreneur will create more insecurity and uncertainty in the belief of yourself than you had prior to going down this road.

Although you may have the support of staff, employees and team members, at the end of the day, when all the dust settles, if you do not believe in yourself and your ability to hurdle the challenges and move forward, you will not succeed.
 

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A big part of the entrepreneurial game is the mental development and processing that has to occur long before you see successes in your bottom line. If you do not believe in your ability to weather the storms, you too, as many that were discussed at the beginning of Part 1 of this article, can very easily find yourself in a depressive state of mind.

All the preparation in the world will not prevent you from having to endure some trials and challenges in running a business. Even with them, it does not mean it is not doable – what it does mean is that you have to put yourself in the best position possible to make the best choices that will put your business in the most optimum position to succeed.

It also means that before you throw your hat in the entrepreneurial ring, you should work on developing some of the characteristics that will be essential to keep you in the game. I’m a believer that it can be done. But you have to be willing to stay on your grind, persevere and do all that is necessary to keep your business and yourself in the game.

Affirmations can help you break through fears, challenges, self-doubt and all sorts of things that block us.

The 7 tips I offer in this free report have the amazing power to help you break through these blocks so you can soar! Access the free report here.


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Top 5 Ways to Know If You’re Cut Out to Be an Entrepreneur – Part 1

Top 5 Ways to Know If You’re Cut Out to Be an Entrepreneur – Part 1

Many people see entrepreneurship as a sexy alternative to a 9-to-5. The problem with that view is that it is so far more than that and so far more difficult than the perception of what it appears to be.

Often times people see entrepreneurship as a means of creating freedom, flexibility, and great wealth. What they normally don’t see are the trials, hardships, lack of funding and uncertainty which can be a significant part of the journey as well.
 

entrepreneur-man
 

A recent study showed that entrepreneurs have a high rate of depression. It is connected to the life of uncertainty, often lack of stability and ongoing hardships that entrepreneurs face at times. Obviously, that’s not all of what entrepreneurship is but you better know before you go into it that these factors certainly amount for some of it.

So, these are the top 5 ways to know if you are cut out to be an entrepreneur.

1. Are You Able to Deal with Uncertainties?

At some point in your business, or your career of entrepreneurship, you will face uncertainty. No matter who you are or what type of business you open, uncertainty is most certainly to be a part of your path. It doesn’t mean you can’t create certain pieces to put you in the best position, but what it does mean is that even with that being the case, uncertainty is guaranteed to be an element you face along the way.

There can be uncertainty around staffing, finances and reaching goals among other things. But it is crucial to be able to handle the uncertainties and not allow them to slow you down or stop you from moving forward in your business venture.
 

entrepreneur-woman-worried
 

2. Are You Able to be Malleable?

The reason you need to be malleable is because you are going to have to take some hits and curveballs along the way. There will be times when what you expected to occur doesn’t happen and what you hadn’t expected will. So, you must know how to move with the flow of things and to be adaptable to the differing circumstances you will face on your path.

Check out Part 2 of this article here.


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The Importance of Making Boundaries Part of Your Business Life – Part 2

The Importance of Making Boundaries Part of Your Business Life – Part 2

This is a continuation of Part 1.

When I started to rebuild my businesses during the Great Recession, it was my goal to be able to create a core business that I could run part-time, from anywhere in the world, but not have its revenue suffer. I had colleagues who had done it successfully and I was determined to do it as well. I wanted to only have to work three days a week for a max of 20 hours and not have to work on weekends.
 

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I am very grateful to say that I have created that life for myself. I built my personal development company so that I could live that life I had only dreamed of. But it could only be done by creating definite boundaries and restrictions in my business.

Many people ask me how I get so much done. It’s quite simple. I schedule all the things I need to do and those are the only things I focus on. When it’s time for me to do something else, I turn my attention to that. I don’t waste time answering phones, replying to emails or surfing social media when I’m suppose to be doing something else.

I schedule downtime for myself regularly, because that will allow me to be the most creative and allow me to work at my highest level. I studied what works best for me and I work and stay within those parameters.
 

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You can create whatever type of business it is you desire. You are the captain of your own ship. You are the decider. You are the rule maker. It is up to you to determine what that life looks like for yourself, create a roadmap to get you there, get whatever support you need to make it happen and then just do it.

We are rapidly approaching a new year. Make 2019 the entrance of the life and business you have always dreamed of. You only have yourself to make it happen and if I can assist you along the way, please just reach out to me. Your new life and your new business awaits you as soon as you take the leap of faith to make it happen. All of your dreams are waiting on the other side.


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3 of the Biggest Challenges Facing Women Business Owners Today

3 of the Biggest Challenges Facing Women Business Owners Today

I recently had the opportunity to attend an event for women business owners in a suburb of New York City. The event was focused on the challenges women business owners experience while running their companies.

It was a very interesting conversation around the difficulties that plague many women business owners. Although the owners represented were in the NYC area, I am sure that women business owners across the country share their sentiments.

One of the major challenges that were discussed was related to funding. Capital is one of the main reasons why businesses are forced to close. Where do you get it? Where are the best options? How do you put yourself in the best position for funding? These were all questions and challenges that many of the business owners had to face.
 

women-entrepreneurs
 

Another issue they tackled was around being a woman in a predominately male industry or just being disregarded or overly questioned by men in a non-male dominated industry. This was actually surprising to me as it has never been my experience. But it was evident how present it was for many who were sharing as part of their experience.

Some of these women business owners were in heavily male dominated arenas such as construction and moving. Some were actually told by colleagues that they were expecting them to fail.
 

women-entrepreneur-challenges
 

We as human beings, and certainly as women, have our own questions and often times insecurities around our abilities to do different things especially those things we’ve never done before. The added pressure and stress of having individuals tell you that they are waiting for you to fall I find to be very saddening. But this is the reality for many female business owners across the country.

The 3rd challenge many of these business owners faced was related to having to learn exactly what to do at different times in their businesses. How to do it and when to do it without ever having the experience of doing it before. Many credit mentors and other business owners with previous experiences for assisting them and giving recommendations, but ultimately the final decision fell on the actual business owner to make the best decision for their business and then learn from the outcome depending on the results. Asking for and seeking help was a big factor for many of them to move their businesses ahead.

Although these issues were discussed by women business owners, I know that the first and the third challenges described are shared by all business owners, male or female, in America.


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How Angel Investors Can Help Your Business Grow

How Angel Investors Can Help Your Business Grow

Angel investing is a powerful way for entrepreneurs to fund their businesses. One of the major reasons why businesses don’t succeed is due to the lack of capital.

Angel investors are often wealthy individuals who are interested in investing seed money or capital to expand a business. Many are interested in bringing certain ideas and innovation to fruition.
 

angel-investing
 

Some angel investors love to contribute their expertise to the businesses they invest in. Some have already created successful businesses and have a tremendous amount of business experience they want to share. Others may not have the expertise, but could be interested in learning. Whatever the interest of the angel investor, it is important to know exactly what their expectation is as it relates to being a part of the company their money is helping to support.

Most angel investors require ownership in your business in exchange of their investment, while others do not. Some may require you to pay a particular investment return without requiring shares. You are able to negotiate and structure the best deal for yourself and your business. But just remember, if you are in need of the funds, the investor has the upper hand. They will have a significant advantage when structuring the deal for your company. There are tons of companies seeking out investors. You are not the only viable business opportunity in town.

Many angel investors focus on specific industries and sectors. Some may only be interested in women-owned businesses or tech, but whatever the type of investor, do your research to make sure you have the angel investor and investment that is best for you.
 

angel-investor
 

Finding the right angel investor can be difficult. It’s going to take much more time and effort than you may anticipate. So, make sure to give yourself a significant amount of time to search for one.

Once you find one, you’ll want to make sure you complete your due diligence before signing any agreements. I advise you to seek out a corporate attorney to assist you in the process and ensure it is the best deal for you. Do not wait until the last minute to do this. Bring the attorney in early as the right one will help you to avoid a ton of pitfalls in this process.

I have seen countless investment deals go bad. So, you’ll want to do whatever is possible to put yourself in the best position at the beginning. Otherwise, it can be a huge liability to yourself and ultimately your business in the end.


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