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Do You Have What It Takes To Run A Business?

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Do You Have What It Takes To Run A Business

Running a business is no simple matter. Even with the best idea in the world, you need careful planning, an aptitude for numbers, and most of all the ability to drive forward when times get hard. Because they will, at times, get hard. That being said, you need to have the ability to transform an idea into a sellable product or service, and you need to learn how to do that. 

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Educate yourself as you go into this business journey. A good entrepreneur never stops looking how to get ahead, and this can be done through research and a constant commitment to accumulating knowledge. A good entrepreneur takes reading very seriously. The average CEO reads four to five books a month. While this might seem like a lot to fit in, it works out around 45 minutes per day. Reading about business, new technologies, or anything that interests you and you can learn from, will help you to absorb new knowledge and find new ideas. If you still think you don’t have time to read in your day, consider listening to audio books, or using time spent commuting to read. The average person spends 4.35 hours a week commuting, which would be the equivalent time spent reading one book. Think about the hours wasted commuting, and see if you can’t convert it into a more productive experience. 

Turn any obstacles you have into challenges to learn from

Most successful entrepreneurs turn any obstacles they might face and transform them into an opportunity for learning. Young entrepreneurs tend to lack experience, and as such will inevitably make mistakes, and fail many times. The difference between a successful entrepreneur and a normal person, is their ability to learn from each failure and get up having learnt from their previous mistakes. Turning challenges into opportunities will allow you to build a successful business, if you have the right kind of attitude.

What kind of entrepreneur can I be?

You don’t have to go into business with a singular idea or business plan. There are many ways to be an entrepreneur that don’t necessarily follow the traditional business route. Rather than taking on someone else’s business ideas, think of your own. This way, it will be your vision that drives the business forward, rather than having to rely on someone else’s. If you’re stuck for ideas, but know you have what it takes to run a business, take a look at simonstapleton.com for some entrepreneurial advice and ideas. 

Are you able to spot patterns?

By spotting patterns I mean, being able to go above yourself to see things objectively and decide where changes need to be made. This ability, while often instinctive, can also be learnt through training. Rising above everyday confusion, maintaining a cool head, and making decisive decisions about when the right time to enter into a business transaction is, or when to expand the company, is a crucial skill to have. 

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