Every person has something unique to contribute to the world as an entrepreneur. The key is to decide what you want to contribute. Set your goals, develop your plans, and seek support.
Entrepreneurs have some unique qualities. Elon Musk to Mark Cuban, Tim Ferris, Ariana Huffington, Gary Vaynerchuk, Bill Gates are some the successful entrepreneurs of our times. If you admire them, then you are an entrepreneur at heart.
Qualities of a Successful Entrepreneur
- Confidence and enthusiastic
Entrepreneurs know that they have something to contribute. They are confident and optimistic. They have the skills and determination to do something. So, believing in yourself is necessary. Many people do not feel sure most of the time. And it’s completely normal. Even successful entrepreneurs have moments of doubts. But, have faith in yourself.
- Creative, imaginative, and vision-oriented
And, they work on creative ideas about how they might get there.
- Motivated and determined
Entrepreneurs are goal-oriented. They have strong determination.
- Willing to build networks
Entrepreneurs know that it takes a village, peers, and mentors to help launch a successful business.
- Willing to take responsibility and risks
Entrepreneurs are willing to take responsibility for planning and launching their business. They take responsibility for achieving their goals. Also, they know that there are some risks involved in doing so. So, they plan carefully. Also, they seek support from peers and mentors. It helps to minimize financial and other threats.
Traits of a Successful Entrepreneur
Many people say that success leaves clues. Some qualities that top entrepreneurs all have in common are:
- The past should not ruin the future
Evan Williams got the great idea of making a podcasting platform. Evan was pretty crushed when months after Apple announced they had a new podcasting section of iTunes. It crushed his company, Odeo. But now, you know that he hit it big when he founded Twitter.
What Evan Williams knew that just because his past had failed did not mean his future could not hold success. Just because one app failed did not mean another one could not succeed.
Before launching The Huffington Post, over 36 publishers rejected Ariana Huffington’s second book. That is the story of Ariana. Similarly, Tim Ferris had a similar story with the Four-hour Workweek. Twenty-five publishers rejected Tim before the 26th one accepted his book. It is that tenacity to keep going and not listen to the past.
- It is never too late
People often think:
-I am too old
-That ship has sailed
-It is too late
-It will never happen for me
At age 28, JK Rowling was depressed. Also, she was a single mother living on welfare. Similarly, Morgan Freeman did not get his first lead movie role until age 52.
There is no telling when you are going to be successful. It might happen tomorrow. It might happen a year from now, or at age 50. But the only sure way that you are going to fail is if you quit.
A successful entrepreneur needs to make decisions for literally every work. Decision making includes making choices. Also, it includes selecting compromises. From higher to lower stage, decision making is necessary. However, decision making is not only about making choices. It is also about performing them.
Effective decision making refers to selecting alternatives. Also, it involves managing and implementing those alternatives. Hence, this leads to the achievement of organizational goals.
Entrepreneurs should be careful during the decision making. It is because decision making plays a significant role. Also, entrepreneurs know their work better than anyone. So, they need to focus on it.
For a decision to be effective, there must be a systematic process. The elements should be clear and understandable. In addition to this, the managers should carry it out in the sequence of steps.
Some steps of effective decision making are:
- Identify the problem
- Collect information
- Identify the alternatives
- Weigh the alternatives
- Select an alternative
- Act on the decision
- Review the decision
Entrepreneurs know that creating a sustainable business takes determination for a longer time. So, they are willing to persevere to achieve their dream of becoming their boss. They want to pursue their passion and make this world a better place.