This past Friday, I had the opportunity to speak in front of a group of 30, folks considering launching their own business or just having done so. Many are doing so because work is so hard to come by, others because it’s simply the right time to follow their dreams.
Starting my presentation, I wanted to address four key strengths that are must haves for an entrepreneur to be successful.
- Cash Flow
You Have to be Passionate
As a potential new entrepreneur, you have to ask yourself, “Am I passionate about what I want to do?” Do you truly believe in the product, service, or other offering that you are going to build and take to market?
Passion is, perhaps first and foremost, the most important trait for any entrepreneur. You have to truly believe that what you are going to do will add value for your customers.
A fire in the belly is what it will take for you to work the 12, 14, 16 hour days necessary at times to get your dream off the ground. That same fire will keep you moving even when best friends, family members, Mom or Dad, are telling you it’s all wrong, you can’t do it, you won’t succeed.
Beyond the doubters, you will face uncounted obstacles, distractions, and daily-living events.If you’re not passionate, if there’s no fire in your belly, these events will overtake you, remove the luster of your once-shiny idea, and make it harder to stick with.
Next, I talk about Guts, Team, and Cash Flow.
Photo Credit: www.sxc.hu #793479