Who is an entrepreneur?
An entrepreneur is a person who creates a new business. He is a person who organizes and operates a new business by taking risks. He is someone who creates something new, either a business or an initiative. He is a creator, innovator, starter, driver and a source of new thoughts, ideas, good services and business. An entrepreneur is a person who understands the risk of starting a new venture. They are the important drivers of economic growth, creation and innovation.
All entrepreneur shares very similar qualities that make them and their business successful. And all of these qualities are learnable. So, here are the common traits of an entrepreneur. How many of these match up to your own?
Qualities of an entrepreneur
1. Self discipline.
Self Discipline requires self mastery, self control, self responsibility and self direction. The entrepreneurs can discipline themselves of what should be done and what should not be done. They master patience and believe in efforts. They focus on their business, work & goal and eliminate the distractions in the way of their goals. They take steps everyday to achieve their goals.
They don’t doubt themselves. They know they will succeed if they work well hard & smart. They don’t think they are not worthy of success. They have confidence in themselves & in their business. They take risks because they are confident that they will succeed and their business will grow. They believe in themselves and are not scared to go to unexplored world and learn something.
Passion is the most important trait. It is something that drives and entrepreneur to take risks for their business to grow. It gives them the reason to keep learning & move towards mastery. They love their work. They are willing to put extra efforts, time, thoughts in their business because they love what they are doing. They want their business to succeed more than anything.
4. Self Starter.
An entrepreneur starts his business on his own. Because if something is to be done they will start and do it themselves. They are proactive and they work without anyone’s permission. They don’t rely on someone to take decisions for them and to do something. They initiate things on their own and take decisions on their own. Because its their project, their vision so how can they depend on someone else to take decisions for their vision, while they wait for it? They have to do it on their own.
5. Future oriented.
Entrepreneurs have a vision and a goal to achieve, so they look and move towards future. If if they fail or facing problems in the present they know and believe that they will succeed. They set goals and work to achieve them. A strong vision will help you accomplish your goals. They believe in change, creation and innovation. Even if they have small business at the moment they believe that they will grow into a big enterprise in the future.
6. Open Minded.
Entrepreneurs always have an open mind. Having an open mind allows them to see more opportunities and solutions to problems. They realize opportunities and ideas in every event and situation. They always have an open mind for knowledge, ideas and creativity. They always listen to ideas of different people to understand new viewpoints. They see past their ego and ideologies to learn more and make effective plans.
Creativity is a must have ‘skill’ for an entrepreneur. It is defined as the ability to come up with new ideas and solutions for old or new problems, getting things done in a new way. Most entrepreneurs succeed because of their one creative idea. Some of the famous examples of creative entrepreneurs are Thomas Alva Edison , Alexander Graham Bell, Steve Jobs, Mark Zuckerberg Walt Disney.
A successful entrepreneur is a great leader. They are capable of leading people and getting work done by them. They use various methods like proper motivation, planning, and evaluation to lead people. They develop strong teamwork and builds confidence of people to achieve their goals. They don’t impose their decisions and thoughts on others they make them clear to them and take suggestions and ideas from their people. They encourage their employees to be creative and find their own solutions to the problem.
Also Check: Qualities of a Leader | Leadership Guide
Many people fail because they give up the very first difficulty and obstacle in their path. But when an entrepreneur starts a business or any new project, they might fail. But they remember that only the project has failed, they can still learn from it and can do it again. They don’t give up. Instead of giving up they prefer to learn from their mistakes and keep trying again and again until they succeed. Because it is not possible to achieve great things without overcoming the obstacles.
10. Communication Skills.
Good entrepreneurs maintain good relations with people. And for that they have amazing communication skills. Communication skills in entrepreneurs include listening, non verbal communication, empathy, friendliness, clarity, writing, debating, leading, presenting, negotiating, etc. They need to good communication skills to share their ideas and visions to the people clearly, to maintain good relations with their staff, teams and clients. Speaking your ideas doesn’t mean everything they need to be good listeners to understand the ideas and suggestions of their staff. They should be able to negotiate with the clients and also be able to present their services/products to the clients and customers.
11. Work ethic.
Entrepreneurs need a strong work ethic. They cannot make excuses to not work or for not showing up. Because it will be their loss, its their vision and business. The employees follow the boss so he has to set a good example by showing up on time always and leaving after everyone. They work more than their own expectations to finish work as soon as possible.
That’s all with the meaning and qualities of an entrepreneur. Subscribe to our email list to receive updates, blogs and articles.