Economics Class

Qualifications For A Business Person

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).

  1. Your sense of time.
  2. Your sense of responsibility.
  3. Your ability to make decisions on your own.
  4. Your desire to perform above average.
  5. Your sense of destiny.
  6. Your ability to allocate your time.
  7. Your sense of opportunity.
  8. Your ability to set priorities.
  9. Your ability to follow through on a plan.
  10. Your ability to assess your progress.
  11. Your willingness to serve as a role model.
  12. Your reliability.
  13. Your ability to break big projects into small tasks.
  14. Your ability to distinguish your calling (end) from your job (means).
  15. Your ability to master new material.
  16. Your ability to cut the right corners.
  17. Your willingness to sacrifice in the present for the sake of the future.
  18. Your ability to perceive a unique opportunity.
  19. Your ability to seize the opportunity.
  20. Your willingness to take risks.
  21. 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.

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