Are You Psychologically Strong Enough to Be an Entrepreneur?

Do you have the desire to be an entrepreneur?

Are you psychologically strong enough to be an entrepreneur?

Take a look at the following article where it touches on the 6 tests that you need to take in order to be qualify to be prepared to be an entrepreneur.

When most people think about entrepreneurial potential, they tend to gravitate toward intellectual categories of thought: How much business knowledge or acumen do you have? How much experience have you held in this particular industry? Are you creative enough to come up with innovative new approaches?

The answers to these questions are important, but they ignore an entire realm of entrepreneurial traits attached to psychological and emotional health. Entrepreneurship is a demanding gig, and if you aren’t mentally ready for the challenge, it might do more than ruin your attempts to succeed in business — it could negatively impact your life.

Do you have what it takes — mentally and emotionally — to be an entrepreneur? Here are six tests you’d better be ready to face if you want to become an entrepreneur:

1. Adversity

First, you’ll need to be prepared to face adversity. You’ll be challenged and opposed as you try to develop your business into a successful enterprise, whether that occurs in the rise of a new competitor or a marketing strategy you can’t quite figure out. There are many potential responses to adversity, but the two big ones are intimidation and resilience.

With intimidation, you may give up in response, or you may continue moving forward but bear stress, doubt, and fear that affect your work in the future. With resilience, you’ll view adversity in a healthier way, understanding it as a temporary setback and committing to work past it.

Look at historical examples in your life; how well do you respond to adversity?

2. Pressure

It’s no secret that startups are high-pressure environments, and as an entrepreneur, you’ll be in the hot seat. You’ll have investors asking you about future payoffs, you’ll have clients pushing your deadlines and threatening to leave and you’ll have teammates wondering about the future of the company. The stakes are high, and you’ll be the focal point for many individuals relevant to your business.

How well do you function in a high-pressure environment?

3. Accountability

On top of that, you’ll face a level of accountability you may not be used to. There’s nobody above you that can step in to help you make decisions or bear partial responsibility when things go wrong. There won’t be anybody below you, either, making major decisions without your say-so (at least in the early stages).

You’ll be making all the major decisions yourself, and you’ll be the one responsible if anything goes wrong. Your investors, clients and employees will all be ready to blame you, which will make the decision making process even more stressful.

Are you prepared to handle this level of accountability?