According to Forbes, the five personality traits of an entrepreneur are vision, passion, resilience, strong sense of self and flexibility.
To succeed when learning how to start a small business, you need to have a wild imagination — and the ability to make it into a reality.
Which of the following age groups do you fit into?
a) Under 30 years old
b) 30 to 49 years old
c) 50 to 69 years old
d) 70+ years old
Business owners come in all different ages. But, there is an average age for small-business owners — can you guess what it is?
Answer: c) 50 to 69 years old
People 50 to 69 years old are in the average small-business owner age range. According to Experian, small-business owners have an average age of 50.3 years old.
When you hit 50, you’ve been around the block a few times — which is great when it comes to owning your own business. You’ll have enough experience working for others that you will know exactly what you don’t want to do — and how you aim to do it differently.
What should be your biggest objective as a modern-day business owner?
a) Seeking investors
b) Positive work environment
c) Cash flow
d) Building an audience and/or following on social media
In this day and age, there are a lot of things to think about when starting a business, from social media and your work environment to investors and cash flow.
Answer: c) Cash flow
According to Entrepreneur.com, 82% of businesses fail because they experience cash flow problems.
Cash usually does rule everything around you when it comes to being an entrepreneur. Here’s a piece of small business advice: Have a steady income flow to make your dreams feasible
By Rachel Farrow,Gobankingrates