Many people dream of opening a business and thriving with employees to do a lot of the work while they relax and do administrative tasks. (This is a bit misguided as an entrepreneur works just as tirelessly as the self employed if they are successful, but that is not the focus of this article). However, most business owners are actually self-employed and fall short of entrepreneurship. It takes an entrepreneur to create a business that runs more or less, without the owner present. Most of us lack the innate characteristics of a true entrepreneur. Even though we want to be the entrepreneur, our personalities hold us back. There is nothing wrong with either business model, but they each have very different rewards.
Which one are you? Excited by the start-up of a business, regardless of what the business is? Do you dream of starting up one business and then start dreaming again of another business after one is up and running? You might have what it takes to be an entrepreneur.
Balances risk with reward.
Excited about the process of business and how to run a business well; the specific product or service being sold is less important.
Passionate about efficiency and streamlined processes.
Willing to work long hours within reason to meet deadlines.
Willing to delegate tasks to the appropriate person or people.
Micro-Manager for select key jobs. Allows other qualified people handle the rest.
Willing to take on greater than normal financial risk.
Excited by their unique product or industry. Not interested in other industries.
Willing to work long hours to get the job done, often to their detriment. Burn-out is a problem.
May or may not be organized. Usually not concerned with streamlined efficiency.
Micro-manager: Must know everything that is going on with all aspects of the business at all times.
Unwilling to delegate tasks, even when overloaded.
Adverse to taking on debt to grow the business and may feel overly anxious about debt.
Often ends up over-worked and underpaid, but unwilling to take the risks necessary to expand to a larger, more efficient operation.