May 29, 2020 is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Articles for Entrepreneurs


What It Takes To Be An Entrepreneur


Are You Entrepreneur Material?

Written by Brenda Stokes for Gaebler Ventures

How do you know if you have what it takes to be an entrepreneur? It does take a special breed of individual to deal with the challenges that being an entrepreneur brings. Are you that person?

You have a dream and you want to achieve it.
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That dream is of you working for yourself because you don't want to answer to anyone but yourself. You want to have control over your earning potential rather than be limited by the caps that the traditional employer places upon your income. Business ownership is how you can achieve this.

But there are some things that you need to take into consideration. For instance, you need money to start a business, you need a plan, and you need to be able to deal with all of the conflicts that come about when you own a business. Not only do you have to deal with customers, but you also have to deal with employees, vendors, and anyone else who makes your business function.

Questions to ask yourself

When you want to start your own business, ask yourself the following questions to see if you are entrepreneur material:

1. Am I confident?
2. If I were to fail at a task, would I get back up again or give up?
3. Am I persistent? When I take on a task, will I make sure I get it done?
4. Do I like a good challenge?
5. Am I willing to put a lot of time in my business to make it succeed?
6. Do I meet goals when I set them?
7. Am I willing to set small goals in order to reach larger ones?

If you answer yes to all or most of these questions, you just may be the right stuff to own a business.

Confidence, determination, and persistence

There are three main things that you need to be a business owner. The first is confidence. You have to know that you can do something before you do it. If you were to open a clothing store and were not confident in your knowledge about fashion, how would you expect to carry the latest fashions?

It is through confidence that you will draw customers to you. This confidence will rub off onto your employees so that they can provide excellent customer service. Confidence is like a magnet.

In the case of determination, you have to ask yourself if you have ever succeeded in something that didn't have determination behind it. Once you have your answer, you will see how important determination is when you own a business.

The third item, persistence, is one that all business owners must possess. A person may start a project with a clear vision of how they want it to end up, but not be able to follow through. You must be the type of person who can start and finish despite the setbacks you experience


The most important element of business ownership is passion. You must have a passion for the business that you are in. That way you heart is in what you're doing. When owning a business is important to you, it is the passion that will carry your confidence, determination, and persistence. It is through this passion that owning a business will allow you to go far.

Brenda is a graduate of California State University and a professional writer covering a variety of business topics. To learn more about Brenda, check out her website at The Digital Inkwell.

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