Are You The Right Fit For Your Business?
You may be wondering why as a business owner, you are being questioned about whether you are the right fit for your business. The reality is that being a business owner does not necessarily make you the right person to drive it. You could be better of firing yourself from the position and letting someone else run this business as you concentrate on leading and growing it.
A leader is like a shepherd. He stays behind the flock, letting the most nimble go out ahead, whereupon the others follow, not realizing that all along they are being directed from behind.” – Nelson Mandela: Former President of South Africa
Here are four critical considerations to determine whether you are actually the right person to run your business to success.
1) Do You Have the Right Skills?
Possessing the right skills matching the key success factors in any business is non-negotiable. As a leader, you need to have extraordinary abilities to bring out the best in your teams and to keep your business moving forward. If you already have years of experience in your chosen opportunity, you will be able to leverage on this experience. Very often, you find entrepreneurs venturing into fields they have absolutely no training or experience in but they are determined to make it. In such cases, it is very critical to study up and research in order to avoid making costly mistakes.
2) Can You Take All the Risks Associated With the Business?
Even with the best laid out plan, it could go south for one reason or another. A perfect example is in Kenya the year 2015 when the government banned the production of second generation alcohol and listed all the companies that produced this type of liquor. Citizens in some parts of the country took matters into their own hands and vandalised the production plants belonging to those companies, destroying properties worth billions of shillings. The owners were left counting their losses. This once lucrative business turned out to be very risky to the investors. This only proves that every entrepreneur has to be mentally, physically and emotionally ready to lose it all.
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3) Are You Comfortable With Failing?
International statistics have shown that 90% of businesses fail and that the average millionaire goes bankrupt atleast 3.5 times. Will it be the end of the world for you if you fail? It shouldn’t because you will be in good company. Remember that high failure rate is great news because it means there is low competition and you have another chance to try it all over again. Wisdom comes from practice, so it really doesn’t matter how much you’ve read or been taught. Billionaire entrepreneur Mark Cuban admitted this in his book: “It doesn’t matter how many times you fail. You only have to be right once and then everyone can tell you that you are an overnight success”.
4) Are You Passionate About This Business?
Starting a business is no easy job. It can be extremely hard yet overly rewarding. The only way you will be able to push through is to put in all the hard work and long hours without giving up, even when everyone else stops believing in you. As the guiding force, you should expect hardships along the way but be capable of taking up the challenges. This is what being passionate about your business entails.
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