Friday, March 6, 2009

5. Are You Comfortable Making Decisions On the Fly With No Playbook?

With a new business, you're calling all the shots -- and there are a lot of decisions to be made without any guidance. You might not be used to that if you've spent years working in corporate America, says Bill Wagner, author of "The Entrepreneur Next Door," a book that lays out the characteristics of successful entrepreneurs.
"For most entrepreneurial ventures, there's no structure," he says. "You're going into a business, and nobody has told you how to be successful."
Mr. Wagner has surveyed more than 10,000 entrepreneurs to find out what traits distinguish successful start-up founders from less-successful ones. Among other things, most entrepreneurs he interviewed said they liked making decisions. He doesn't rule out the idea that less-decisive people could become better at the leadership role. It's just that they will have to work a lot harder at it.

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