Never has it been easier to create a new venture. And never have the chances of success on a global basis been higher. But running it can be hard work. It is an all-consuming, 24-hour, seven-day-aweek activity – at least until you have a management team you can rely on. So it helps enormously if you enjoy what you are doing. You need commitment and dedication. You need stamina – ‘90% perspiration, 10% inspiration’. It can break up relationships and split families. It is risky, without guaranteed results. So, you need to be able to bounce back from setbacks, because there will be many. You need determination and persistence in situations where others might give up. You need to be emotionally tough – self-employment can generate a roller coaster of emotions. You need to be emotionally self-sufficient – it can be lonely. You need to be task-orientated – motivated to deliver the best product or service to your customers, all day, every day. You need to be attuned to the opportunities generated by your customers and the market you operate in. Most of all you need to be able to live with a degree of risk and uncertainty – you will always be the last one to get paid and then only if there is enough cash left over. If you crave certainty, routines and a regular pay cheque, entrepreneurship is not for you.
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