The talks about becoming a successful entrepreneur seem to be redundant now. It seems like it’s all talk and nothing practical… right? But… let me tell you one thing.
It is not as redundant as it sounds, my fellows!
Entrepreneurship might have become a hobby or an urge to earn a good amount of money but it certainly is a lot more than that.
Becoming an entrepreneur is a skill and expertise itself. People often think that they can easily become an entrepreneur if they have an awesome idea or a place to start working at.
And that is the reason why so many startups fail without even launching properly. This post will elaborate on some really practical and useful factors that an entrepreneur needs to possess…
To stand out among the ordinary… to have a longer product cycle… and to become a known voice who is considered to be a thought leader in the industry.
Now, without further ado…
Here you go with 9 Factors which make up a Successful Entrepreneur:
- Passion:
Passion is something which makes you turn impossible into possible. It is a strong drive to pursue a goal.“Passion is an energy which fires up your road to success with hardwork and dedication.”
It is best described by Anthony J. D’Angelo:
“Develop a passion for learning. If you do, you will never cease to grow.”
It is basically love for doing a particular thing. This love makes you do all the work that seem impossible to people around you. And that too in less time than anyone else. Because you want it more than others.
Now:
First you need to find that passion… What are you passionate about? What is that thing which energize you the most?Then, once you are clear on that, finalize one passion which you would love pursuing the most and then start your journey towards achieving your final goal.
- Positivity:
Positivity is something which actually makes your goal achievable and realistic. Why?Because on the contrary, negativity makes you demean your passion and makes it look impossible to pursue.
While positive energies make your work more practical and successful. When you are positive about everything around you, your hardships and rough patches also seem to pass easily without much hassle.
Studies show that positivity inculcates a problem solving attitude in people where they become more flexible and risk-taking. And trust me this is the best thing an entrepreneur can have.
- Patience:
Another quality is ‘Patience’. I know you must be thinking that what kind of lessons or features I’m discussing here.But wait, don’t hurry in your analysis…
These factors might seem a little general but keep in mind that these life lessons also play a huge part in making your business a successful one!
Entrepreneurship requires a big deal of Patience indeed. No one achieves the success overnight.
At times you will experience a situation where becoming a millionaire in a day would seem possible… While at other times, success wouldn’t seem near in around 5 years also.
So, as an entrepreneur you will bear different kind of situations. Hold firm to those situations and have patience… as bad times will end someday.
- Planning:
Planning is another brilliant tool which will work in amazing ways for your startup. Some people feel confident that they will do great without even planning but they’re mistaken. You must have heard about a Business Plan.What do you think it is? Yes, it’s all about planning.
Here you plan what kind of business you want to start. So, if you are thinking to go on with the entrepreneurship road without planning…
Then put it the other way round and start planning!
- Risk-Taking:
Risk-takers are the most advantageous of all. They dare to try everything out and that is what makes them the best.They know that the chances to fail are there as well. But at least they know that they tried and did not hold back their thoughts and ideas.
In fact, Jayson Demers says that Risk-taking is almost synonymous with entrepreneurship.
How appropriate it can be? Yes, it is absolutely true that you have to be a great risk-taker to be a successful entrepreneur.
However, all the entrepreneurs need to be vigilant and need to know the extent they can go and the extent of risk which they can bear.
- Leadership:
Entrepreneurs should possess the best leadership skills as well.If a person wants to be a successful entrepreneur and he also has a habit of sitting on other’s back at all times, then it is simply not possible for him to lead a venture.
An entrepreneur needs to have leadership skills in him because he has to lead the whole company, he has to take the risk and take all the blames on him…
The bottom line is…
“Face all the hurdles from the front end. Never become a follower but a game setter”
Also because as a follower he would not be able to innovate and think something extraordinary.
- Team Building:
Along with being a leader, an entrepreneur also needs to be a Team Builder. And what do you think I mean by team building here?It’s not about hiring the suitable people for the job positions but…
It’s about boosting the morale of your team and building a far more efficient and productive team than before.
Team building would also include encouraging team members to participate in idea generation and decision making; and to build a much stronger team.
- Time Management:
An entrepreneur also needs to manage his time perfectly. A punctual and efficient person will always be ahead of the lazy ones.
Studies prove that Punctuality is basically a success secret for an entrepreneur and people who fail to be punctual, fail to pursue their plans also.
Being on times lets you plan, strategize and take the necessary action beforehands. This also lets your work get done before others and you get to lead the way all along.
And this is really amazing when it comes to going ahead with start ups, this urgency and punctuality can actually give you a chance to launch something that others might be thinking of…
And as a result you tend to become the Pioneer in that Field which is a huge edge in itself.
- Expertise:
You also need to have some really good skills and expertise in whichever field you are entering into. Because at times not having the relevant expertise can be the main reason behind your failure.So do not let this happen and Be An Expert before you start!!
If you are doing something you love then the expertise come naturally…
And if you really want to start something that you would like doing, then learn those ways… I am sure you would do great in that too.
Conclusion:
I have described a few factors which I think are really important while becoming a successful entrepreneur. I am sure there might be many other qualities that I must have missed out in this article but these are a few important ones that I thought to share.
Hope you have given it a good read and you found them useful for yourself!
Feel free to mention any other quality that You think is important :)
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