Could You Be An Entrepreneur?

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Entrepreneurs are a certain type of person, with passionate, energetic, resourceful and "never give up" attitudes backing their zest. Do you think you have what it takes to be an entrepreneur?


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Government's behind it. Banks, venture capitalists and the Innovation Fund are supporting it. South Africa's homegrown entrepreneur Mark Shuttleworth succeeded at it. Now it is your chance to get into it.

Entrepreneurship, business development, job creation and SMEs are SA's hottest buzzwords. But starting your own business will take commitment, guts and belief in yourself. 

You'll have to knuckle down and develop your business plan, set up your work space, buy office equipment and stationery and attract your first client before you can make your first profit and begin to reap the benefits of your efforts. 

So to make sure you lay the foundations first time and avoid the pitfalls of many first time small business owners, consider enrolling for a small business management course to give you the groundwork you need to join the rest of SA's up-and-coming entrepreneurs!

Are you an entrepreneur?

Do you think you have what it takes to be an entrepreneur? Take our test - answer yes to five or more questions
and you could have what it takes.

  1. Do you want to be your own boss?
  2. Are you a risk-taker who is not afraid of setbacks?
  3. Are you confident in your own abilities?
  4. Are you an out-the-box thinker?
  5. Do you have vision, tenacity, drive and motivation?
  6. Do you have a strong desire to achieve?
  7. Are you a problem solver?
  8. Do you have a good head for figures?
  9. Are you passionate about South Africa, local industry and development?        
  10. Are you a hard worker who is able to see projects through to completion, even when times are tough?    

The idea of becoming an entrepreneur is thrilling. It conjures images of being your own boss, creating something new, and pursuing your passion. However, entrepreneurship is not just about having a great idea or a strong desire for independence. It requires a particular set of traits, skills, and mindset.

Key Characteristics Of Successful Entrepreneurs

1. Passion and Motivation

One of the most crucial aspects of entrepreneurship is passion. Are you deeply passionate about an idea or a problem that you want to solve? Entrepreneurs often have an intense drive to pursue their goals, even in the face of challenges. They are motivated not just by profit but by a desire to make an impact and create value. Without passion, it can be tough to sustain the energy and enthusiasm needed to build a business from the ground up.

Self-Assessment:

  • Do you have a specific interest or cause that excites you?
  • Are you willing to put in long hours to achieve your goals?

2. Risk-Taking Ability

Entrepreneurship is inherently risky. Whether it’s financial, social, or emotional risk, being an entrepreneur often means stepping out of your comfort zone and taking chances. Successful entrepreneurs have a higher tolerance for uncertainty and are not afraid to make calculated risks. They understand that failure is a possibility but are willing to learn from their mistakes and try again.

Self-Assessment:

  • How comfortable are you with uncertainty and risk?
  • Are you willing to accept the possibility of failure as part of the journey?

3. Resilience and Perseverance

The road to entrepreneurship is rarely smooth. Entrepreneurs must be resilient, able to handle setbacks, and ready to keep going when things get tough. Those who succeed often have an unyielding perseverance that helps them bounce back from failures, adapt to new challenges, and keep striving towards their goals, no matter how difficult the path.

Self-Assessment:

  • Do you see challenges as opportunities to grow and learn?
  • How do you react to setbacks or failures?

4. Creativity and Problem-Solving Skills

Entrepreneurs are, by nature, problem solvers. They identify gaps in the market and come up with creative solutions to fill them. This requires not only a strong sense of creativity but also the ability to think critically and make quick decisions. Successful entrepreneurs are resourceful, often finding innovative ways to overcome obstacles and push their business forward.

Self-Assessment:

  • Are you good at finding creative solutions to problems?
  • Do you enjoy brainstorming and thinking outside the box?

5. Leadership and Team-Building Skills

Building a business often involves building a team. As an entrepreneur, you’ll need to be a leader, inspiring and guiding others toward a common goal. Good leaders have strong interpersonal skills, are good communicators, and know how to motivate and empower their team members. Entrepreneurs who can build strong, cohesive teams are often more successful in the long run.

Self-Assessment:

  • Do you have strong interpersonal and communication skills?
  • Are you comfortable leading and motivating others?

6. Financial Acumen

A successful entrepreneur must have a solid understanding of finances. This doesn’t mean you need to be an accountant, but you should be able to manage a budget, understand cash flow, and make informed financial decisions. A lack of financial literacy is one of the top reasons why startups fail, so being financially savvy is crucial.

Self-Assessment:

  • Are you comfortable managing money and financial planning?
  • Do you understand the basics of budgeting, accounting, and cash flow?

7. Willingness to Learn

The most successful entrepreneurs are lifelong learners. They are always looking for new information, skills, and perspectives that can help them grow their business. The entrepreneurial landscape is constantly changing, and those who can adapt and learn quickly will be better equipped to navigate new challenges and opportunities.

Self-Assessment:

  • Are you open to feedback and willing to learn from others?
  • Do you have a habit of seeking out new knowledge and skills?

Career opportunities are endless and depend on your talents and interests. You could develop a new product, start a franchise or open your own furniture trading business.

You could even launch a corporate gifting business that invests in local artists and manufacturers - the sky really is the limit!

Suggested Article:

Female Entrepreneurs

In collaboration with Niya Consulting, the DO MORE FOUNDATION (founded by RCL FOODS) launched the Township Economy Programme in 2019 to empower young women in rural South African communities as sustainable business owners. The initiative aims to equip these women—often the primary breadwinners in their families—with practical skills and business acumen, helping them navigate challenges like poverty, social obstacles, poor infrastructure, and limited resources.

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