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Why start a business?

Why do people decide to start a business?

  • Challenge: If you are someone who enjoys a challenge, then setting up a business could be just the thing to keep you stimulated throughout your work life
  • Learn new skills and gain new knowledge: Running a business involves a range of skills including; time management, organisation, communication, teamwork, giving presentations etc
  • Be you own boss: You don’t have to take orders from people anymore. You are in charge so what you say, goes! 
  • See the direct results of your labour: Working for yourself means you can do things your way and enjoy the rewards when you succeed
  • Interest and enjoyment: Starting a business means that you can focus on the things you enjoy
  • Efficiency: You set the deadlines. This means you need the self-discipline to get the job done when necessary
  • Innovate and create: It’s up to you what your business is about
  • No more commuting: If you would have to travel far to do the job you love, then that could be enough reason to become self-employed
  • Second Career: If you have the discipline to balance a job with a business, then you can make it work, and add another string to your bow

What makes a successful entrepreneur?

  • Energy – You need to be able to motivate yourself to work in the morning and keep going throughout the day. You should also be the sort of person who is constantly coming up with new ideas, plans and strategies
  • Persuasiveness – You don’t necessarily need to be a natural sales person but you do need to master the art of persuasion as you will be telling as many people about your business as possible, from customers to investors
  • Resourcefulness – You will encounter many problems throughout your business so it is essential that you are able to come up with ways to solve these problems as effectively as possible
  • Positive Attitude – If you are a pessimistic person, you might find running a business very challenging. You need to be able to think positively, and always look on the bright side
  • Able to deal with uncertainty – There is a lot of uncertainty in being an entrepreneur, especially in the first few years of starting up a business. You will need the ability to do your best through this uncertainty and not be phased if situations change that are out of your control
  • Opportunistic – You need to be the sort of person who seizes every opportunity
  • Able to learn from mistakes – It is inevitable that you will make mistakes. You will need the ability to deal with these mistakes, not give up when they happen, but learn from them and find new ways to fix problems
  • A creative thinker – You need to be full of ideas about how your business might grow
  • A good communicator – You are going to be talking to a lot of people in your line of work so you need to be a good communicator and be able to deal with people.

If you have some or all of these personality traits then you may have what it takes to be a successful entrepreneur! But where do you start, and how do you know if your business idea is a good idea? TCHC’s enterprise staff can help you figure this out. You can contact them using the form below.

Our Practical Skills for Business course can help you with starting your business, from the assessment of your initial idea, to how you are going to fund and market your business. If you are unemployed or have recently been made redundant, then you may be eligible for funding. We look forward to hearing from you!

 

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