Successful Entrepreneurship: Do You Have These Attributes?
What does it take to be a successful entrepreneur? Let us tell you that finance is not the only factor driving the fate of an entrepreneur. There are so many of us who want to click as entrepreneurs but fail. We fail – not necessarily – always because of money but because we lack basic entrepreneurial traits, attitudes, and skills. Documented below are a few surefire signs telling you that you are an entrepreneur. If you don’t have them you are not one. Read on to discover.
Your ambitions are backed by a strong vision and creativity
This is where it all starts. One cannot arbitrarily embark on his entrepreneurial dreams without having a clear vision. Ideating a business is not a walk in the park. Estimating the feasibility of your idea is also important. Are you capable of making people sit up and listen to what you have to say?
There are times when it might be difficult for you to convince others—especially at the beginning. But if you have faith in your ideas and the determination to pursue the same, chances are you will be successful. Ideas should always be backed by a vision. At least, you should be completely sure about the feasibility of the idea that you have committed yourself to.
You’re Ready to deliver Something Different
Which product or service do you intend to deal into? Irrespective of what it is- make sure that it’s one-of–its-kind. Irrespective of which industry you’re looking forward to venturing into, you should be prudent enough to ensure that whatever you are bringing to the table helps you secure a competitive edge over your rivals.
As has already been mentioned above, you yourself should have conviction in your idea. Don’t be scared to bring something different to the fore. Even if the “core product” is the same you can always introduce some interesting add-ons.
An entrepreneur is undeniably an inspirational leader—not necessarily a grumpy boss. Your responsibility as an entrepreneur doesn’t really end with just steering projects. You are in constant need to motivate your employees to work towards meeting company objectives. You should be able to connect with your employees emotionally and that doesn’t really happen if you’re only giving them financial incentives and perks. They definitely work as incredible sources of motivation but make sure that you’re actually reaching out to them personally to let them know that the company values their presence in the team.
You are not afraid of taking risks
The decision to float your own business was a risk of sorts. However, you should have the constant urge to take risks and turn them into potential profits. Without taking risks, you will never be able to estimate how much your business is capable of delivering. Somebody has suggested very prudently that if you are foraying into the fashion industry and end up finding that camouflage is the latest fad then you shouldn’t be afraid of bringing your own retro line to the fore—quite simply because fads are not long-term preferences.
The Kind of lifestyle you have chosen should be prioritized as well
Choose a healthy lifestyle to ensure that your ambitions are right on track. Handling a business all by yourself is a matter of nerves but you should know how to relax and how to cut off from your work at times. Relax. Take breaks to come back with a renewed focus on your work. Quit poor lifestyle habits because maintaining good health is crucial to the success of your business.
Once again, you don’t really have to be a Mathematics genius of sorts in a bid to carve your niche as an entrepreneur. However, having the basic understanding of accounting is a must. In the process, you should be able to calculate company risks, profits, losses and gather an idea about IT filing as well.
How well do you network? Let us tell you that it will conspicuously govern your chances of making it big as an entrepreneur. You don’t necessarily always need a huge capital to invest in marketing. Honestly, not all have the luxury of the assets as well. Focus on what you have. Concentrate on unconventional promotional tools like Facebook, Twitter instead of just vying for television, print, and radio coverage.
How well are you able to communicate?
Let us tell you that good entrepreneurs know what to say and when to say. Talk about client meetings, team meetings and even writing business pitches. You necessarily don’t have to be eloquent as far as your words are concerned but make sure you’re able to move listeners and readers.
How well can you organize and plan?
It is important to organize tasks properly. You should have clear idea as to who is doing what- who manages marketing? Who looks after funds? Who ensures that plans are executed properly?
Know how to compete
There is no room for blind competition. Business is not about putting down your competitors in front of others but adopting more nuanced approach towards shoring up business. Once again, the theory of incorporating interesting add-ons to your portfolio works here.
How much time are you willing to dedicate to your business?
Do know for a fact that the time invested by you and your dedication will actually go on to determine the future of your business. The question is how much time are you willing to invest in the venture? The answer ideally – should be a lot. Your task doesn’t end with ideating and delegating responsibilities. You need to be mentally and physically involved with projects from the start to finish – especially when it comes to guiding your employees.
How blessed are you with people’s skills?
Business forums, parties, trade fairs or business exhibits, there’s no dearth of occasions when you are required to meet and interact with people. Let us tell you that there is a major difference between just talking and actually connecting with potential customers. If you are unable to convince people with your words, you cannot really expect your business to flourish.
Nirdesh has rich experience of 10+ years in finance sector as well information technology sector. He is 36 years and right now working as director/CEO is in Zedexinfo Pvt Ltd. and one of the co-founder in fashionbuzzer.com, which is a fashion eCommerce portal in India. He is big fan of internet marketing which he still managing in his own companiesRead Full Bio