8 Traits You Need to Quit Your Day Job and Start Your Own Business

Who wouldn’t want to be their own boss? Television shows like “Shark Tank” have led to a culture in which we idealize and glorify the entrepreneur, someone who makes his own way in life. This has led more and more people to consider launching their own business ventures, instead of toiling away in the lower ranks of the corporate world, following orders in hopes of one day reaching the top of the ladder. But the harsh reality is that not everyone is prepared for the challenges of entrepreneurship; starting your own business is no easy feat, and a lack of strong leadership is why so many small businesses fail. Certain personality traits are required in order to succeed as an independent industrialist. If you’ve got an idea for your own enterprise, but you’re not sure whether to risk quitting your job to focus on this uncertain prospect, ask yourself if you possess the following traits.

1. Resilience

Few things are certain about your path from conceiving of your business to seeing it flourish, but one thing you can count on is that you’ll face challenges and roadblocks along the way. The ability to overcome obstacles and keep moving without getting discouraged and giving up is a trait that’s present in every successful entrepreneur.

2. Focus

As you’re working to get your business off the ground, you’ll encounter distractions continuously along the way. It’s important that you possess the ability to zero in on one thing at a time, concentrating on your goals and the tasks at hand rather than getting caught up in interruptions that threaten to divert your attention.

3. Confidence

Not only is it important that you believe in yourself and your business just to keep you in motion, it’s also important because others can sense your confidence. If you project the strength of your beliefs when meeting others, they’ll be far more likely to work with you, invest in your business, or make a purchase.

4. Versatility

Unless you’re starting your business with a full secretarial and administrative staff already in place, chances are you’re going to be wearing a lot of hats early on in the entrepreneurial process. A good entrepreneur is more than just a guy with an idea; he can play every role necessary to get his organization off the ground and in motion.

5. Financial savvy

You need to know money to make money. Without a strong understanding of cash flow, profitability, and other important fiscal concepts, you don’t stand a chance of seeing your business grow from a small operation into a thriving enterprise. And since you’ll likely be working as your own accountant in the early stages, it’s particularly important that you know how to keep your own books.

6. Self-reliance

There’s strength in numbers, but when you’re the sole proprietor of a business, you’ll need to find some strength within yourself. Depending on others will only get you so far, and you’ll likely have some doors slammed in your face. If you can rely on your own will to succeed, you’ll get a lot farther than if you’re depending on external validation.

7. Salesmanship

Selling a product or service is a skill that not everyone possesses, and although it’s connected with intelligence and charisma, there’s something intangible about good salesmen that’s separate from these other traits. If you lack the ability to market your product (and yourself) you’re unlikely to find anyone willing to buy in.

8. Vision

An entrepreneur may start small, but he must dream big. If you limit yourself in your conception of what your business could possibly be, you’ll limit your ability to make it grow at all. Successful entrepreneurs possess the ability to see not only what is, but what could someday be.