Do you have what it takes to become an Entrepreneur

Being your boss, following your passion, being in control of your time and your life, and making a lot more money in the process - no wonder would-be entrepreneurs get excited about starting a new venture.

Running your own business is not for the faint hearted. To succeed, you will need to be a self-starter, who is able to get up in the morning and get on with things. It will take a while for the business to become profitable, so patience and perseverance are a must, not to mention self-discipline. There will be no-one breathing down your neck; only you can decide what needs to be done and when.

And, if you are thinking about going solo just to make more money and have more freedom, think again. Most entrepreneurs will tell you that running a business is not a life of leisure. On the contrary, business owners often work long hours, are 100% committed to their business and have fierce determination.

In saying that, if you have what it takes, running your own show can be exciting and rewarding, especially if you are passionate about what you do.

To make your business vision a reality, you will need plan your business down to the smallest details. Planning not only will help you prepare for what it is required of you on a day-to-day basis, but also give you a longer-term perspective of where you want your business to go.

There is a lot involved in creating a successful business and some key personal attributes are essential. You may not necessarily have them all, but if you are serious about going solo and making a success of it, you need to make sure you have what it takes.

First of all, entrepreneurs are passionate about what they do. Their work is their life, not a job or means to an end. They are curious about how things work and are able to absorb an enormous amount of information, being able to keep up with their industry.

Entrepreneurs set trends and are constantly looking for new ideas and markets for their business. If you like feel more comfortable if someone else is leading the way, you may want to give it some thought before deciding to set up your own venture. Entrepreneurs can’t wait to take charge.

They tend to be optimistic by nature. When most people are moaning about the state of the economy, they are trying to figure out how they can use the situation to create new opportunities.

A firm grasp of ‘how money works’ also tends to be a common feature among successful entrepreneurs. They know how to manage their money well and also how make their money go further.

They take calculated risks and are professional in their approach to work. The have self-discipline, and a great amount of motivation and energy. They also have a great deal of emotional intelligence. This term, coined by behaviourist and author Daniel Goleman, refers to a set of skills that allows people to understand and influence theirs and other behaviour. Being able to listen, reason with and persuade is different from being a good negotiator, but just as important.

They are confident in their business and their ability, being able to set long-term goals whilst being flexible enough to respond to changes. Their ambition means that then obstacles come up, they tackle those head on. There are no failures for an entrepreneur, only lessons. They constantly strive to succeed and, while most people would bail out when the going gets tough, true entrepreneurs keep going. Their determination, belief and passion keep them going even when there Is not yet sign of light at the end of the tunnel.

Even if you have what it takes, having support is crucial, especially from those closest to you. Running a business is not a 9 to 5 commitment; it requires much more than that. You will need to create your own team and tap into other resources such as business networks and associations. Having a business coach or mentor can also make all the difference. They will offer support and practical advice throughout the journey, which could save you a lot of time, money and headache.

Despite the hard work, the rewards are many, not least being able to create a vision for your business and your life, live your dream and make it a reality. As motivational speaker Wayne Dyer put it: “Doing what you love is the cornerstone of having abundance in your life.”