Life as an Entrepreneur

“I’d rather invest in an entrepreneur who has failed before than one who assumes success from day one” – Kevin O’Leary

Business Plan Stock photos by Vecteezy

Being an entrepreneur is a great challenge, and one which requires resilience, risk-taking, problem solving and much much more!

What does an Entrepreneur do?

An individual who wants to turn their idea into reality is an entrepreneur. In doing so, they are responsible for most of the risk associated with the business, but in turn, they are in control of the profits (if there are any, that is!).

It definitely requires a certain type of person to be their own boss. Some of the key characteristics that make a successful entrepreneur include:

• Resilience: Starting a business from scratch will result in lots of setbacks, and sometimes failure. Many successful entrepreneurs fail with multiple business ideas until they see positive results. The grit and resilience to keep going, and be determined that you will succeed, is a great trait for an entrepreneur to possess.
• Versatile: As your own boss, you will often find yourself working across most, if not all areas of the business. You will need to be able to communicate clearly and confidently with suppliers and customers, be able to handle company finances, whilst being tech-savvy, all at the same time! The wide skillset required to be a successful entrepreneur is not easy, so you must be prepared to constantly learn along the way!
• Passionate: At the end of the day, it is your business idea, so you have to want to make it work! This may mean you have to show some sacrifice, work extremely hard, and put in some long hours! But, without passion and drive, you will not have success!

Interested in learning more about the journey to becoming your own boss?! Check out the Young Entrepreneurs Academy, aimed at teaching 13–17-year-olds the essentials of being an entrepreneur.