Independence-This is the most common denominator of all entrepreneurs. They want to seize control of their future; thus they choose to become their own boss instead of laboring under the gaze of a master. An entrepreneur has a great sense of independence and will march up with a purpose and that’s to earn money through his own means and hard work.
Any person who strives to become an entrepreneur, wouldn’t just want to be one in the interest of money. There must be a higher purpose behind his/her desire. I’m of the belief that ‘entrepreneurs are born not made’. You cannot force somebody to become an entrepreneur, the desire has to come from within. So, given in the subsequent paragraphs is a little advice for those people, who feel that they have ‘the desire’ in them.
Persistence and Determination-The world of entrepreneurship is fraught with both success and failure. An important quality of a successful entrepreneur is the persistence to continue pursuing his goal despite some setbacks and obstacles that he may encounter on the road. This persistence and determination is fueled by a burning desire to accomplish his goal of succeeding in his chosen field of business.
Self-Confidence-Along with independence, an entrepreneur possess self-confidence. They believe in their abilities and makes sure that they’ll put in their best effort into their particular endeavors and likewise expect the best performance from it. The business world is very competitive and isn’t a site for the half-hearted. Belief in one’s capabilities is very important in achieving any goal-particularly in the world of entrepreneurship.
Creativity-In the business world, you can not allow ourselves to be complacent and un-creative unless you want to know the competition to move up on ahead of you. Thus, you really have to be highly creative-you should be in a position to create new ideas as well as find new ways to solve problems. You can make sure that you stay ahead of the contest by this way. Creative people are naturally curious, inquisitive, bright and highly flexible when thinking. They keenly observe their environment and have an eye for spotting new trends that could potentially be a business opportunity.
Creativity and Innovation. These people ‘think outside the box,’ are available to new ways of doing things, and have the potential to recognize opportunities when they see them. They are people who use creativity to solve the problems.
Organized and goal-oriented-An entrepreneur knows the value of organization in the course of a business endeavor. All efforts must be paid towards achieving the goal. A good entrepreneur systematizes every move he/she makes so that less time and other resources are consumed in the pursuit of the goal, yet the goal provides the best expected result, however. A good entrepreneur has the capacity to consolidate his resources.
ACQUISITION OF RESOURCES FOR PRODUCTIVE ACTIVITES: This has to do with the entrepreneur’s private life or concern in an effort to create a good market. However, the acquisition of productive activities is a personal decision that is, taken by the entrepreneur to the effects of its business to meet its primary motive.
The productive activities could be referred to as machines bought for the goal of production of goods/product in order to meet the needs of the market.
Visionary-An entrepreneur has a vision for his future. He/She is guided by this vision in everything he/she in his business endeavor. This vision may be for short, middle or long term, but all visions are to finally succeed in expanding one’s business.
Peter Jones is considered the ‘Visionary Investor’ on the Dragons’ Den. He is very dismissive of all those who fails to articulate in-depth understanding of their business, or their vision of their business.
Risk-taking and Tolerance for Failure-A good entrepreneur realizes that loss and failure are inherent in any business endeavor. Thus, an entrepreneur must still be ready to make calculated risks and face whatever consequences those risks might have. Entrepreneurs must find the courage to face failure and start again despite these setbacks. The characteristic of a successful entrepreneur is in never giving up and in picking up the pieces and continuing the journey even if failure momentarily obstructs the way, as in all fields of endeavor.
Perseverance and Hard Work-These are perhaps two of the more important entrepreneurial traits. In the world of business, there can be no real success without perseverance and hard work.
Commitment-An entrepreneur won’t achieve success if he/she gives up during the first sign of trouble. Commitment to his business and to its success springs from the desire to achieve the goal.
So, do you believe you have whatever it takes to be a successful entrepreneur? Make sure you get the above mentioned entrepreneurial traits and qualities and we assure you, you unquestionably have whatever it takes to succeed in the world of business.