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Passion is, obviously, very important. Starting a business is both a thrilling and a horrible experience. You will get knocked down on many occasions. You could lose an investor. You could lose some of your key employees. A strategy you really believed in could end up a complete failure. When this happens, will you be ready to keep going? This is where passion kicks in. If you are truly passionate about your business idea, you will have the strength to keep going, to work even harder for what you believe in. Ultimately, it is this kind of people that are successful entrepreneurs.
Finances are one of the biggest problems entrepreneurs face, especially when just starting a business. You will probably have to use all your savings, ask you friends and family for support and look for investors. Just when you've got enough, you're still not safe. You could find yourself in a situation where you are unable to pay yourself for a long time or you business could fail altogether resulting in a total loss of funds. Are you ready to risk all your savings, as well as the funds provided by your friends and family?
Although a 9-to-5 job seems much worse compared to your own business, shifting from it to starting your own business, you have to be ready to work much longer hours for much less pay, at least at first. Working longer hours automatically means less socializing. You will have to miss out on holidays, festivals and going out. Do you have the drive to work day and night, to devote yourself completely to a project with an uncertain outcome?
When starting your business, confidence and optimism will get you far. It's these qualities that set successful entrepreneurs apart from the unsuccessful ones. You have to have a "you can do it" attitude. You have to be a go-getter. To succeed, you have to be able to keep your head up in the most desperate of times - times you will surely have to go through.
If your answers to the questions above were "Yes!", what are you waiting for? Go get 'em.