It takes a lot to become an entrepreneur. One needs skills, money, knowledge, ability and more. These are all needed for anyone to truly succeed in business. Gary North compiled a list describing a business person in his Ron Paul Curriculum class Business 1 (Lesson 30).
- Your sense of time.
- Your sense of responsibility.
- Your ability to make decisions on your own.
- Your desire to perform above average.
- Your sense of destiny.
- Your ability to allocate your time.
- Your sense of opportunity.
- Your ability to set priorities.
- Your ability to follow through on a plan.
- Your ability to assess your progress.
- Your willingness to serve as a role model.
- Your reliability.
- Your ability to break big projects into small tasks.
- Your ability to distinguish your calling (end) from your job (means).
- Your ability to master new material.
- Your ability to cut the right corners.
- Your willingness to sacrifice in the present for the sake of the future.
- Your ability to perceive a unique opportunity.
- Your ability to seize the opportunity.
- Your willingness to take risks.
- Your willingness to experience failure.
When I look at this list I see that I have some of those qualifications. I do set priorities and am able to asses my progress. If I must sacrifice something in the present to accomplish something in the future, I will do that. I would like to perform above average and when there is a corner that could be cut, I can do it. However, there are other qualifications that I do not think I posses. I don’t ‘want’ to take risks or experience failure. I understand that these come in life, but I would rather do without them. Many times I don’t sense an opportunity and fail to act upon it. Sometimes I start a project with enthusiasm only to let it fall by the wayside. I try to allocate my time, but I often find myself abandoning my schedule.
Overall, I realize that I have less of those attributes than is good for a business person. In our society with so much government regulation it would be very hard for me to be a successful business person. However, if we had a free market society (or at least something similar to what America had in the good old days) I believe I could budget and train myself to run a profitable small business.