Serious Business

The word entrepreneur shown in dictionaryIf you are thinking of starting your own business, there is plenty to consider:

  • Are you going into business because you were unable to find a job?
  • Is self employment your last resort?
  • Do you have a specific skill or a product well suited to entrepreneurship?

Going into any business is serious business!  To be successful, there is a process to follow, beginning with a self assessment.

As the business owner you will be the driving force behind the business.

  • Do you know yourself well enough to make an honest assessment?
  • What are the key skills or attributes needed to start and implement a successful business?
  • Are you made of the “Right Stuff”?

Consider your personal background and your lifestyle. Your need both the proper ingredients and the right mix.

According to the publication “Building a Dream”, it is a myth to say that entrepreneurs are born, not made.

While entrepreneurs may be born with a certain native intelligence, a flair for innovation, a high level of energy, a core of other inborn attributes that you either have or you don’t have, it is apparent that merely possessing these characteristics does not necessarily make you an entrepreneur.  The making of an entrepreneur occurs through a combination of work experience, know-how, personal contacts, and the development of business skills acquired over time.  In fact, other attributes of equal importance can also be acquired through understanding, hard work, and patience.

Is there a profile that defines what an entrepreneur needs to possess in order to be successful? No, but there are some characteristics that help to define what skills and attributes are needed. Here are just a few:

  • Consistent
  • Flexible
  • A positive outlook
  • Persistent
  • Able to learn from failure
  • Confident
  • Goal oriented
  • Creative
  • Hard worker
  • Committed
  • Self starter
  • Determined
  • Integrity
  • Reliable
  • Responsible

Sound like you? As a future entrepreneur you need to be totally honest with yourself when you complete a self assessment.  Ask yourself:

  • Why am I starting this business?
  • Do I have the right skills and attributes to start a business?
  • Am I starting this business for the right reasons?
  • Do I want to feel a sense of accomplishment?
  • Do I want to be my own boss, shoulder all the responsibilities and at the same time enjoy the element of adventure?
  • Do I enjoy challenges that new opportunities bring where I can use my skills and rise to the occasion?

There are a several assessment tools available to help you take this first step:

You can also think about attending one of our upcoming Starting a Small Business seminars.

Starting a business is a very serious decision and never should be taken lightly.  At Halton Region’s Small Business Centre, we are here to help you with all your business questions.  One of the goals of the Centre is to empower small and medium-sized enterprises and give you the tools to achieve success. For more information about any of Halton Region’s other Small Business Centre resources and services, and how we can help direct you to the right resources, contact us at 1-866-4HALTON (42-5866), www.haltonsmallbusiness.ca, smallbusinesss@halton.ca or visit us at 1151 Bronte Road, Oakville.

And don’t forget to follow us on Twitter @haltonecdev and Facebook at www.facebook.com/HaltonSBEC.

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