Is running a business for you?

Running your own business or becoming self-employed can bring rewards and stimulating challenges that working for somebody else never will – if you have the right frame of mind. The following list highlights a few of the most essential characteristics required:

Self-starter. You must be able to identify business opportunities as they arise and confidently act upon them without assistance from others.

Self-discipline. Working on your own, sometimes outside normal working hours, will require a high level of self-sufficiency.

Determination. It will take all the determination you can marshal to get your business off the ground.

Innovation. You will need to come up with better or unique methods of operating and new ideas to give your customers the service they desrve on a continual basis.

Accountability. Blaming others if things go wrong is not possible. The responsibility of being in charge of you business must be enjoyed not feared

Enthusiasm. Being enthusiastic or passionate about your plans and products gets others involved. It also keeps customers and bank managers on your side.
There are lots of people running flourishing businesses who have neither qualifications or training. They may lack some of the above traits but they would not have succeeded without commitment, will power, a competitive streak and the ability to work extremely long hours.

Youth Business Trust