Article Contributed by Will Vicary
Becoming an entrepreneur is the dream of so many people from different walks of life. From the college student studying to earn a Bachelor’s Degree in Business, to the housewife whose children are now school-aged, entrepreneurship can be a great opportunity. While some people like Catherine Cook and Mark Zuckerberg have made hundreds of millions of dollars as entrepreneurs, unfortunately this does not happen 99% of the time. Entrepreneurs must possess specific qualities if they want to succeed, earn profits, and come up with an innovative business. If you have an idea and you are in the process of developing your business plan, here are 5 qualities that you must possess to succeed.
These are five qualities that every entrepreneurial minded people possess:
When you are employed by a corporation and you work in an office, you have no choice but to go to work if you want to keep your job. The corporation will keep you on their payroll if you attend work, perform, and meet your goals. You must be an asset for the corporation to justify the cost of keeping you on payroll. But when you are entrepreneur, the idea and the business is yours. You must be willing and ready to dedicate countless hours starting your business even when it feels like you have nothing to show for it at first. The best entrepreneurs are passionate about their ideas and can stay focused without micromanagement. Be prepared to put in the effort and the time.
Most people know that technology has changed business dramatically. With new software programs, new computers, new portable tablets, and new marketing strategies, everything is changing on what seems like a daily basis. All of the best entrepreneurs are prepared for the constant changes that the industry will bring. They are not just creative, they are innovative. They can adapt technologies to suit their own professional needs and will not let changes in technology overwhelm them.
Energetic and Motivated
Entrepreneurs do not need anyone else to motivate them. The idea of succeeding is the only thing an entrepreneurial-minded individual needs to drive them and keep them motivated. Those who cannot motivate themselves may not be the best entrepreneurs. It is very important for anyone considering entrepreneurship to be energetic, excited, and most importantly self-motivated.
Competitive by Nature
With so much competition in every industry, every entrepreneur is going to have to face the competition at some point and time. When a new business opens, the owner needs to market their business and the value. They need to compete against other businesses that are already extremely successful in the same industry. If you are not competitive by nature or you easily feel defeated, you might not possess the competitive gene that the best entrepreneurs possess.
Be a Leader and a Team Player
When you think about being a team leader, you might think that this is completely different than being a team player. The best leaders are team players. You are going to need a team to help you come up with ideas, operate the business, and accomplish goals. The best entrepreneurs can drive themselves but they are also team driven.
All entrepreneurs are ready to feel but motivated to succeed. As you can see, successful entrepreneurs possess specific qualities. Some of these qualities are inherent and some of these qualities can be learned through experience. You must be confident, passionate, and ready to accept rejection. With these key personal qualities, ambition, and inner drive, many people like the Mark Zuckerberg, maker of Facebook, have grown their business larger than they ever dreamed of growing it.
About The Author
Will Vicary writes on behalf of a number of businesses on topics such as fiduciary management and auto enrolment. He enjoys reading about business as much as he enjoys writing about it. Any opinions expressed in the article do not necessarily represent the businesses Will writes for.