Friday, March 12, 2010

Do You Have What It Takes To Become An Entrepreneur?

There has been a sharp rise in people 55+ becoming entrepreneurs; with many more in the wings checking out the idea. The rise is a result of desire and default. My comments in the New York Times article on entrepreneurism prompted many people to call and write me about what do I really think it takes to become an entrepreneur today. I have a checklist of ideas but I wanted to see what the specialists were saying.

I remembered that when I was Editor at Large of WORKING WOMAN magazine that we ran a special section on entrepreneurship in conjunction with the Small Business Administration in Washington DC. Some of the best insights and advice came from professors at Babson College (one of the first schools offering classes in entrepreneurship).

So as I was doing my research for this blog I was thrilled to discover this article in The Harvard Business Review entitled: "Should You Be An Entrepreneur? It reflects my thoughts and is honest, straight-on and practical. Just what every potential entrepreneur needs to hear! And it is written by Professor Daniel Isenberg of you guessed it, Babson College. He challenges the reader with thought-provoking questions that are broad in scope and gives you the chance to take a terrific 2 minute quiz that should not be missed.

To get you thinking here are a few of Professor Isenberg's Yes or No questions:

1. I don't like being told what to do by people who are less capable than I am.

2.I like challenging myself.

3.I like to win.

4.I always look for new and better ways to do things.

5.I can't sit still.
And there are 15 more personally-challenging questions that you need to answer if you are thinking about starting your own business. You can score yourself ...and for your own sake, be honest! The worst thing is try and fake out yourself; usually the only one who loses when that occurs is you!
To see the full article, and many more from Daniel Isenberg, go to the Harvard Business Review and put Daniel Isenberg in the search box. You'll be amazed by the breadth of knowledge this man has about entrepreneurship! Even current entreprenuers will benefit from his research!

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