How to Become an Entrepreneur

According to the Global Entrepreneurship Monitor 2000, out of every eight adults in Brazil, one is an entrepreneur. Closely following Brazil is the United States where one in ten adults is an entrepreneur. Not far behind the two leaders are Australia (one in 12), Germany (one in 25), United Kingdom (one in 33), Finland (one in 50) and Japan (one in 100).

With respect to economic growth and job creation, entrepreneurship is considered to be a dominant contributing factor. Owing to its contribution in the economic well-being of a country, governments throughout the world are framing policies and devising strategies to make the environmental conditions as lucrative for an entrepreneur as possible. In fact, this is the right time to become an entrepreneur, but the biggest question that must be impinging your mind is how to become an entrepreneur.

Need for Self Assessment

If the entrepreneurship bug has already bitten you, then before taking a plunge, it would be worthwhile to wear your thinking cap and do a bit of self-assessment. This will help you to determine whether you have all the requisite qualities to become an entrepreneur. Ask yourself the following questions:

Do I have the courage to take the initiative?

As an entrepreneur you would have to amass all the required resources as capital, labor, land, etc. to kickstart your business venture. You would have to organize yourself, manage your resources meticulously, and painstakingly follow all the details to ensure the success of your business.

How well can I get along with different people?

For the sake of the well-being of his business, a business owner has to establish and maintain healthy relationship with a wide range of people like bankers, lawyers, consultants, accountants, customers, staff members, etc. All these people have varying personalities. An astute entrepreneur is one who has a lot of patience and knack to handle these people in the best interest of his business.