Do you have what takes to run a small business?

Do you have what takes to run a small business?

Being your own boss might sound like it is the ultimate ticket to freedom and financial success – and it can be. But don’t be fooled into thinking you’ll be able to put in a few hours each morning and spend the afternoons networking over a round of golf. The reality is that most businesses require a lot of hard work – more than your standard 9–5 job and over a number of years – before they start to make a reasonable profit and a lot of new businesses fold before they reach that point.

So ask yourself: are you passionate about what you’re going to do? Are you prepared to make sacrifices in terms of time with your family, and are they OK with that? Are you up to facing risk and uncertainty? And are you patient and persistent?

If you can answer “yes” to those questions, then you’re the kind of person a small business needs to succeed. Make sure you have the necessary skills not just to produce your service or your product, but to run the administration as well. Anywhere you feel you might be lacking, take the necessary steps to upskill yourself.

The below article takes a more in-depth look at how you can tell if you’re ready to be your own boss.

Read the full article at: www.inc.com.

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Glen Senior
Glen Senior

CEO Glen Senior has been helping small businesses start and grow since 1989. Along the way, he has published 6 books on small business development and business planning, created training courses, built e-learning platforms, and developed Microsoft USA’s Small Business Plus program which was delivered into 9 countries.Since 2005 Glen has focused on the banking sector and has built up an extensive knowledge of how banks can engage with the small business segment. He has presented at a number of small business banking conferences and is sought out as an opinion leader in this space.