SBA Tips on Starting your own Business

Do You Have What It Takes?

Learn the characteristics and habits of creative, successful entrepreneurs.

Many successful entrepreneurs have similar traits and characteristics. Learn what these are and what you can do to improve on your own.

FICTION: To be an entrepreneur, you must be born that way.

FACT: Anyone can learn to operate like an entrepreneur.

What are the similarities of successful entrepreneurs?

* Persistence
* Desire for immediate feedback
* Inquisitiveness
* Strong drive to achieve
* High energy level
* Goal-oriented behavior
* Independent
* Demanding
* Self-confident
* Calculated risk taker
* Creative
* Innovative
* Vision
* Commitment
* Problem solving skills
* Tolerance for ambiguity
* Strong integrity
* Highly reliable
* Personal initiative
* Ability to consolidate resources
* Strong management and organizational skills
* Competitive
* Change agent
* Tolerance for failure
* Desire to work hard
* Luck

Many entrepreneurs also had a role model to influence them early on and parents who were entrepreneurs Two traits necessary for successful entrepreneurs are creativity and innovation.


What is Creativity?

Creativity is being able to create new ideas and ways to solve problems that provide cool opportunities.

Characteristics of Creative People

* Bright
* Adaptable
* High self esteem
* Challenge-oriented
* Idea-oriented
* Inquisitive
* Curious

Can you improve your creativity? YES! How?

Gather as much information as you can (read, talk with experts, etc.); brainstorm over time. Just think about the problem or issue until an idea comes to you.

Is the solution reasonable? If so, try it. If not, keep thinking. Did it work? If so, great. If not, begin the process over again. Don't put barriers on your mind. Put these steps to use.

Left Brain

Analytical
Rational

Right Brain

Intuitive
Artistic

You need both sides of your brain when being creative, as they compliment each other.

What is an Innovation?

Something that is invented (ex. CDs), or
Something that is created from an existing idea or product (ex. Super Wal-Mart).

Where do innovative ideas come from?

Unsatisfied customers
Demographic changes in society
Luck
Imagination
Vision
Problem-solving

Remember:

Look for new ideas
Keep it simple
Start small
Try, try, try again

You have the drive and ambition. You have the support and family and friends. You now need to do some research, develop an initial business plan, and financial resources to get your business off the ground. A good place to start for information and assistance is the SBA, which works in partnership with various organizations. Among the services available are low-cost loans, counseling and technical assistance sources, special programs for veterans and women, and more. Please note that Congress has not set aside any monies for grants to start and/or expand a small business.

SBA’s education and assistance partners include the Small Business Development Centers and a national Clearinghouse that provides small businesses with management and technical assistance. There are more than 1,000 centers located around the country. In addition, nearly 100 Women’s Business Centers form a national network designed to assist women start and grow small businesses. The centers’ mission is to level the playing field for women entrepreneurs, who still face unique obstacles in the world of business. The Service Corps of Retired Executives (SCORE) is dedicated to entrepreneur education and the formation, growth and success of small businesses nationwide. There are more than 10,500 SCORE volunteers in 374 chapters operating in more than 800 locations. SCORE offers personal and online business counseling and training.

Stumble It!