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(Checklist for potential entrepreneurs)

 

Are you asking yourself whether you are the right type for entrepreneurship?

Well, fortunately, there is nothing like an exclusive type of personality suitable for running one’s own business. Even among famous entrepreneurs, you can see very diverse types of people and different styles of doing business. So we are not going to tell you “Yes, you are a perfect entrepreneur” or “No, sorry, forget about it.”

 

Instead, we are offering you a list of some prerequisites, as well as some of the competences and personal attitudes that you might need to have or develop.

 

Entrepreneurship is an adventurous pathway during which we keep on learning and often discover that we have some potential that we did not know about, so: be confident and work hard. Going through the following list may help you identify your current strengths, as well as areas you can work on to make the most out of your potential.

 

 

WHAT AN ENTREPRENEUR NEEDS:

 

VISION

A business idea and a picture of your business (company) in the future.

 

MOTIVATION

Energy and drivers to kick off, develop and sustain the business through its ups and downs.

 

CONFIDENCE

Belief that your services or products will be helpful and attractive to people, your prices fair and your business successful.

 

BUSINESS PLAN

A solid plan including details of your business idea, target market, company niche; as well as financial and marketing plans.

 

FINANCES

Capital to invest in the business and to cover your living costs for the first months, when you might have just a minimum income.

 

SOCIAL SUPPORT

From your partner, family and closest friends.

 

PEER SUPPORT

From at least a few other entrepreneurs that you know well, trust and can consult openly.

 

KNOWLEDGE about:

field of your products / services  

target market

administration

accounting

marketing

sales

IT

basic legal issues

 

SKILLS

SELF-MOTIVATION SKILLS

TIME MANAGEMENT: e.g. planning, prioritizing

MANAGEMENT SKILLS: e.g. strategic planning, organizing, delegating, motivating

SALES SKILLS: e.g. sensing opportunities, making acquisitions

SOCIAL/ NETWORKING SKILLS: e.g. developing contacts, motivating people, effective exchange of ideas and support

VERBAL SKILLS: formulating thoughts clearly and convincingly

MULTITASKING: parallel work on diverse tasks

 

PERSONAL ATTITUDES AND CHARACTERISTICS

RESPONSIBILITY

SELF-DISCIPLINE

PATIENCE

ETHICS

OPENNESS TO CONTINUAL CHANGE

LIFE-LONG WILLINGNESS TO LEARN

 

additional tip:

You can use this list as a basis for making your personal development plan.

To identify the areas that you could improve, try the following self-assessment technique and ask yourself:

On the scale from 0-10 (10 for optimal), how would you currently assess yourself for each of the items in the checklist?

In the next step, think how you can improve each of the items. For some of them, you can gain information, knowledge or competence quite effectively yourself. Where you think you can´t, consider using peer support, training courses, new work experience or professional support, such as mentoring or coaching.

Business or career coaching is an effective way to help you review your business ideas and plan your next steps.

  Share your experience and ask your questions about the topic.

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