Can You Pass the Online Entrepreneur Test?

by Wayne Sharer

International speaker, author, and entrepreneur. Retired navy officer, former commanding officer. Over 35 years of leading, coaching, mentoring, and speaking.

January 28, 2013

online entrepreneur test image

Can you pass the test?

How many times in your life or career have you had to pass a test in order to qualify to participate in your next job or be part of a business venture? I’m not suggesting this is wrong or bad or good, just that most successful careers require you pass a string of tests along the way.

Doesn’t this put an amazing amount of stress on you when it happens?

The Online Entrepreneur Career Path

The good news here is, there is a “career path” creating more personal security, more dream accomplishment, more financially secure lifestyles where tests are not required. It’s called entrepreneurism. There is no test to enter the world of being an entrepreneur, and there is no place it is truer than doing it online.

So, how do you know if you have what it takes to be an entrepreneur?

First let’s just frame the potential here. In the USA, the Small Business Association says there were over 27.5 million businesses in the US and 99.7% of all employer firms are small businesses, and generate over 65% of the new jobs over the past 17 years.

One Sign You Don’t Have What it Takes

Even bigger is the fact that over 500,000 new businesses open each year (which also means a similar amount go out of business). Therefore, you can see there are a lot of people starting their own business each and every year. How do you know if you have the entrepreneur bug with a chance of success?

Right off, I can tell you if you are going online to go into business because you think it is free, and money is just going to be tossed your way, you probably should take some sort of psychological test. Mental stability and sanity is required. If you think this (online business is free), you do not have the entrepreneur bug. You have some delusional impairment, and should seek help before taking on entrepreneurism.

What You Do Need to Be and Entrepreneur: The 3-Step Test…

I was going to site some sources for the first requirement, but I found that so many people agree on this first test requirement, it wasn’t worth the citation. The bottom line is the first requirement is to have a real passion for what you do. Starting a business isn’t just a whim, and you must be persistent, realistic, and have a real tolerance for frustration. If you don’t, you will lose the optimism you started with. You must want this as much as you want to breath.

Second, you must not fear risk or failure! This is where the online opportunity seekers fail. They think there should be no risk. They try to make money and expect not to fail.

This alone, literally causes their failure. If you cannot accept that you will have failure and you may lose money before you make money, and you will have to make capital and personal investment, then don’t even start as an entrepreneur. I’ll refer you to Noah Wasserman of Harvard Business School, The Founder’s Dilemmas for more details on this.

Third, you need a plan. 65% of business failure comes from a lack of a roadmap. Anecdote and hyperbole guide far too many when they begin. You can’t start a business totally on emotional decisions that feel good. You must have some idea of what is going to happen and how you make it happen. This requires you must get a clue about strategies that work before you start, and then be flexible so you can adapt as many things don’t turn out the way you expected.

Delivering the 3 Elements to the Online Entrepreneur

I’ve committed to delivering all these three elements by creating courses and coaching that focus on the realities. Elements one and two mostly come from within, though you can strengthen these qualities once you’ve decided you have passed the test to be an entrepreneur online, and I help people strengthen them. The third element is the focus on using proven strategies and building your business from ground up, using them. My goal is to deliver to online entrepreneurs exactly what you need to make that plan upfront, so you limit the risk, reduce the failures, and achieve the dream and security that is what makes entrepreneurism worth every frustration that occurs.

For me, I succeed when you succeed. I’ve done my job when you realize your dream. Do you have what it takes to be an online entrepreneur? Join me.

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