It seems like today that every man and his dog want to start their own business – creating a concept into a success, and ultimately a ticket from the rat race. But How many of them actually succeed? With over 60% of business’ failing in the first four years there has to be a reason. Is it that not all members of society are called to be entrepreneurs, not all people who have grand ideas are meant to be entrepreneurs. Miki Agrawal
What Is It That Makes Up An Entrepreneur
I mean is it something that they are born with? And if you aren’t born with this special gene then there is not a chance that you will succeed in business? I don’t think so, but I do think there are a few characteristics that almost every entrepreneur has which allows him to become successful in his ventures.
Characteristics Of An Entrepreneur
1. A strong desire to be your own boss
No matter what job they have entrepreneurs will never be truly happy until they are working for themselves – working on their own projects.
2. An abundance of energy
With all the work that they put into their business ventures you would think that they would burn out, and although some do it is from their desire to be their own boss and to make their venture successful that they derive their energy.
3. A willingness to risk money and security
What are you willing to lose to make your venture a success? There is the distinct possibility that you may have to resign from your job to focus on your business while it is still growing – is this something you are willing to do to be an entrepreneur?
4. Ability to inspire and energize others
Entrepreneurs are successful communicators and leaders, and are excellent at casting vision that inspires people. This ability to inspire others is one of the tools that entrepreneurs use to get people to work for little or no wages, they sell the dream.
5. Strong willed?
Entrepreneurs are determined, so don’t try to stop them. They do not take it easy to people telling them that their venture will not be successful because they are determined to make it work at all costs.
6. Ability to learn from failures
Thomas Edison was an excellent example of this trying 9,999 different ways to make a light bulb. Imagine if he gave up on test 9,999? I think he sums it up nicely when he said “I didn’t fail, I just found 9,999 ways NOT to make a light bulb.”Of course entrepreneurs fail but they don’t stay down, they get up shake the dusk off and start again from scratch – vowing not to make the same mistake again.
7. May devote a disproportionate time to your business
Howwould you like to work long hours, for little pay and have others telling you that you are crazy? Welcome to entrepreneurship! Entrepreneurs often spend countless hours on their business after normal business hours – is this something you are willing to do?
8. Self Confident
Entrepreneurs don’t need people to tell them that they are good at what they do. They are confident and easily able to hold themselves with people they have never met. This confidence is sometimes mistaken for arrogance.
9. May lack some business skills
Entrepreneurs are creative. They are forward thinkers and problem solvers, but not always the most astute business people. This is why it is important to as entrepreneurs to build a team of people around us with a broad range of skills to counteract any weaknesses that we may have – this is where the ability to inspire others to ‘catch the vision’ comes in handy.
10. A “never, never, never quit” attitude
Entrepreneurs never give up. Sure they may realize that a venture is not going to be successful and stop working on it, but they are usually right back into it with a new idea to develop.
Do You Have What It Takes?
Before we can even talk about getting an idea, or building your business we have to make sure you are willing to pay the price to become an entrepreneur, because if you are not – you may as well give up now!