What is your risk tolerance? Take the quiz.Friday, February 24, 2017
I get the question all of the time, how did you do it? How did you give up your steady job and great pay to start your own business? Wer...
I get the question all of the time, how did you do it? How did you give up your steady job and great pay to start your own business? Weren't you afraid? What if you didn't make it? Do you think I could do it? My answers...YES...I was a little scared. Not "making it" never crossed my mind. Give up my job? I looked at it as if I was starting on my dream. I didn't feel like I was giving up anything. Do I think you could do it? It depends, the answers that I give to the questions that I am asked are responses that come from a person with a high risk tolerance who thrives on uncertainty. Anyone could do it...but can they stay focused and steady in the uncertain times?
In order to be successful in business, I feel that it is very important to possess specific personality characteristics or at least to attempt to inherit these characteristics before beginning your company. Some of these characteristics are ones that were inherent in me and others I had to master as I identified them as crucial for business survival.
- Ability to effectively prioritize
- Works well under pressure
- Ability to see the big picture
- Can change directions at a seconds notice
- Pays attention to detail
Here's a little fun.... you can probably tell which characteristics I naturally possess by my desk. Effectively prioritize, check. I am a lady of lists and calendars. I have a monthly list, weekly list, and daily list. I also have several calendars. One for content, one for meetings, and another for promotions. My idea book is for jotting down "light bulb inspiration"...you know, the ones that pop into your head out of nowhere. This is my big picture notebook. Sometime I read them back and think...what was I thinking, and other times I think, that is a brilliant idea! Believe it or not, I am organized in my own heap of a mess but paying attention to detail is one that I have to continuously work on. I think it is super important to have a frame of motivation on your desk, whatever that may be. My motivation is my little boy. I tend to work best under pressure, but when it gets too heavy, I take a moment to remember why I am working so hard and I get my second wind and begin to press on. Oh...and before you judge for ALL THE ENERGY, only two are coffee and one is diet coke. One was morning coffee, one is lunch coke, and the third one is afternoon coffee. I know, I know none of this is very good for me, but hey, I don;t claim to be perfect, and when I am cranking out ideas and knocking out tasks, the energy keeps me rolling through.
Out of all of the important characteristics, the most important on is risk taker. If you are not a risk taker, then starting your own company will have you at a mental breaking point in a heartbeat. You have to be almost blind to failure. I say almost, because a little fear will keep you focus on making the right decisions. A huge indicator of a risk taker, is one who doesn't consider failure to be a question when making the decision to start a company.