Updated: February 23, 2019
What’s the first thing you need to have before starting a business? Is it the money to invest? Or is it a profitable business idea? A great product perhaps?
The short answer is NO.
If it is not the capital nor a sound business plan nor a useful invention, then what is it that you need to have first if you want to start your own business? The answer is an entrepreneurial spirit.
Preparing yourself to get out of the rat race and to move towards for this new chapter in your life is one of the most crucial tasks that you need to accomplish.
Many business starters fail at their endeavors not because they failed to properly seize opportunities, but simply because they failed to shift their philosophies and beliefs. They often still have the mindset of an employee.
If you think you’re ready to become an entrepreneur, then check yourself against the following questions and see if you are truly ready to start a business:
- Am I ready to take calculated risks, experiment, make mistakes and learn new things?
- Do I accept full accountability for everything that has happened and will happen in my life?
- Am I ready to work hard and finish everything that I set out to do?
- Do I keep my promises and value my word?
- Am I systematic and try to keep things in proper order?
- Do I believe that great wealth takes time to build and does not come instantly?
- Am I optimistic about life and always seek out the best in people?
- Do I have the skills to find a problem and turn it into opportunities?
- Am I willing to stop complaining about the problems of the world and start to become an active part of the solution?
- Do I know the true value of financial freedom in my life?
Entrepreneurs are made, never born.
Entrepreneurs are creative, innovative, systematic and efficient problem solvers. Money naturally follow them because they do not actively seek it; they would rather focus their time in finding solutions and opportunities to share with others.
They value discipline, perseverance and hard work while keeping a healthy perspective on life. Lastly, they understand that wealth creation is a steadfast progression of learning and giving service to the world.
Great article, Fitz.
“Entrepreneurs are made, never born.” Couldn’t agree with you more. It’s a skill anyone can learn.
Even the proper attitude is something many entrepreneurs developed over the years.
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Nice article Fitz! I think the best thing about being an entrepreneur is the freedom you have and to be your own boss. Thast worth more than any money imo.
Thanks Unibet and I agree, more important than the money is the FREE TIME to do the things I love.
[…] value to others is the best way to become wealthy in life. To quote a line from my article, Are You Ready To Be An Entrepreneur? Money naturally follow [entrepreneurs] because they do not actively seek it; they would rather […]
income is better than wages.
i mean profits..
profits are better than wages.
eek.pareho lang ba ang profit at income??
Hi dawn. I think in general, income and profits are the same. It all depends on how you’ll personally define it. 😀 Thanks for taking the time to comment and hope to hear more from you.
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i’m having a radio program on livelihood at DZME 1530 KhZ every saturday 3-4 pm. i would like to invite you to be our guest. we could discuss your topics on how to start a business,… are you ready to become an entrepreneur and so on so fort about livelihood.
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Hi fitz, nice post. Fellow web entrepreneur here. This has been a very helpful post for me when I was starting out with some ventures. Thanks a lot!
More power to pinoy enterpreneurial spirit!
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I Will not continue working for a boss on my next birthday.
I Think this where I will log onto everytime I need to check if Im still inline with my new bussines idea. I will not work for a boss on my next birthday.
Being an OFW is a painful option to live. Being away from our family and stuff like that but believe me, I really want to go back home and start my own business and become an intrepreneur, but i dont want to jump into conclusion as what the others perceive that after being an ofw, a business venture will follow even they lack of experience. Such perception is very risky!
I agree that we to prepare ourselves mentally and should gain more knowledge about the business.
I super enjoy and love your posts! very much helpful and inspiring, making me want to read more while keeping my inner entrepreneur spirit soar!
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I am happy to come across this blog. Thank you for the checklist you’ve provided. It’s a great help for a co-founder of a startup. You have just motivated me more.
I agree that some business failed because the founders don’t have the mindset of an entrepreneur but a mindset of an employee. We should always remember, especially the soon-to-be entrepreneurs that starting a business is not that easy. And entrepreneurs don’t just succeed in a matter of months (not even years). As entrepreneur, you must expect that failures are always on the way but don’t make those failures be a hindrance for you to succeed in your chosen field of business. You just have to believe in the product/service that you want to provide to people. When it fails, revise the plan. When it fails again, revise the plan again and again and again until you succeed. When you fail, remember Thomas Edison who failed a thousand times in inventing electricity inspired devices but still succeeded.
Perseverance will take you where you want to go.
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