Starting your Own Business: Are you an Entrepreneur?

There are no secrets to success. it is the result of preparation, hard work, and learning from failure.

Colin Powell

Richard Branson (Courtesy of

While (or perhaps just because) the economy in the U.S. seems to be starting to recover, many people are dusting off their entrepreneurial hats and thinking on starting a business. Sometimes is because they are tired of their current dead-end job, or because the company they work for has changed so much that it is not any longer the place they started at with so much enthusiasm, and some others simply because they believe they can do better on their own. Regardless of their primary reason, more people are starting to become interested in starting their business in the U.S. that at any time in the past 10 years. In addition to these statistics, the recent changes in the Latin America economic outlook has fostered a new entrepreneurial climate, and different from before, many of the new emigrants to the U.S. are coming not because they have to due to the bad situation on their countries, but because they want to due to the latest good developments on their countries that allows them for the first time in history to come to the U.S. to expand their business through exports or direct investment.

Considering this you must ask yourself: Do you want to own your own business in the U.S.?

Starting your own business can be an exciting and rewarding experience. It can offer numerous advantages such as being your own boss, setting your own schedule and making a living doing something you enjoy. But, becoming a successful entrepreneur requires thorough planning, creativity and hard work.

An entrepreneur needs to:

English: Jagriti Chadha, Indian Designer, Entr...

Believe on him/her self?: It may sound corny, but it really does start with believing in yourself and your business idea. Successful entrepreneurs are on their majority people that continue to try after they have failed several times. The ability to endure and learn from failure is one of the most important qualities for an entrepreneur. Entrepreneurship involves uncertainty. Do you avoid uncertainty in life at all costs? If yes, then entrepreneurship may not be the best fit for you. Do you enjoy the thrill of taking calculated risks?

Be creative and Persuasive: Are you able to think of new ideas? Can you imagine new ways to solve problems? Entrepreneurs must be able to think creatively. If you have insights on how to take advantage of new opportunities, entrepreneurship may be a good fit. You may have the greatest idea in the world, but if you cannot persuade customers, employees and potential lenders or partners, you may find entrepreneurship to be challenging. If you enjoy public speaking, engage new people with ease and find you make compelling arguments grounded in facts, it’s likely you’re poised to make your idea succeed.

Entrepreneurship and the Green Economy

Be independent but have a support system:  Entrepreneurs have to make a lot of decisions on their own. If you find you can trust your instincts — and you’re not afraid of rejection every now and then — you could be on your way to being an entrepreneur.Before you start a business, it’s important to have a strong support system in place. You’ll be forced to make many important decisions, especially in the first months of opening your business. If you do not have a support network of people to help you, consider finding a business mentor. A business mentor is someone who is experienced, successful and willing to provide advice and guidance.

If you truly believe that you have what it takes to be an entrepreneur, then I will like to welcome you to the highly rewarding and challenging world of entrepreneurship. As part of our series in entrepreneurship we will be writing a number of articles that will help you take the necessary steps to successfully launch your business in the U.S. These future articles will help national and international investors from Latin America and other countries, understand what is required in order to launch your business in the U.S., including visa requirements, regulatory and compliance issues, marketing and business development, and business finance.

About Inloso

Inloso offers strategic business consulting in Latin America and the U.S., in the areas of multinational strategic business development, multinational operations, and entrepreneurship. We have over 20 years of experience and can help you expand your business, improve your profits and customer satisfaction, and/or reduce your costs of operations. Please visit our contact page if you are interested in our assistance in any of these areas.

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