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Starting an Online Business

Starting a Home Based Business:
Are You An Entrepreneur?

No two people are alike. However, people who have started and built successful businesses of their own tend to share some common personality traits.

Of course, this isn't to say you won't be successful if you don't have all of these traits! Only you can decide if starting a home based business is right for you.

  • You're a self-starter. You're not the type of person who sits around thinking about something, time and time again, and yet don't take any action to get it done. You decide on what needs to be done, and you do it. You're self-motivated.

  • You value independence and self-reliance. You like to learn how to do things so that you do not have to rely on someone else to do them for you.

  • You are comfortable asking for and receiving advice. Very few people can make it completely on their own. A support network of friends, family, and associates can provide you with objective advice about your business.

  • You have a lot of motivation and drive. Your motivations may be different from anyone else's, of course. It could be that you want to start a home business because you'd like to spend more time with your kids. Or perhaps it's because you like a challenge.

  • You believe that your success is in your own hands. In other words, you believe that it is your skills, your ideas, and your hard work is what will make the difference as opposed to believing in "fate". You focus on success instead of failure. You don't believe that some outside force is conspiring to work against you.

  • You're comfortable with taking calculated risks. Note that I said calculated risks. This does not include deciding to start a home business to write software in order to put Microsoft out of business. You carefully assess situations before making a decision as to whether or not you want to pursue the opportunity.

  • You know your strengths and weaknesses. This is vital. It determines the kind of business or product that would be best for you. For example, if you get nervous and tongue-tied on the phone, then don't choose a business where you will have a lot of telephone contact with customers.

  • You are self-disciplined. You don't need someone nagging you to get something done. You're able to determine what needs to be done, then set aside time to do it.

  • You are not easily discouraged. You'll make mistakes; everyone does. You do not interpret mistakes as a sign that you're a failure. A business may fail; but you do not believe that you're the failure. You learn from your mistakes, then pick yourself up and try again.

  • You are creative. You have lots of good ideas, and can often come up with good ideas by observing other businesses.

  • You are adaptable. You'll find yourself taking on many different roles: typist, clerk, marketer, website designer … you name it. You're flexible and not afraid of change.

  • You're willing to work hard. Successful businesses do not happen overnight. You're willing to put in the effort and the hours to make your business a success.

       

In this section:

Working for an Employer vs. Working for Yourself

Advantages and Disadvantages of Home Based Work

How to Protect Yourself from Scams

Are You an Entrepreneur?


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