Are You A True Entrepreneur?
Although most people think that they are born to become entrepreneurs, being a business tycoon is not a cakewalk. Do you ever wonder why most start-ups fail? Out of numerous reasons, the most significant one is poor entrepreneurship.
It not only takes a unique idea and megabucks to become a successful entrepreneur. It requires much more than just that. The question is what are the characteristic traits that distinguish a true entrepreneur from a mere namesake?
Although every business has diverse requirements, there are a few inherent qualities that define a person as a real entrepreneur. However, these traits can be developed over time by constant hard work and a few lifestyle changes.
So, do not worry if you do not presently possess these traits; you can always learn.
Entrepreneurs Are Passion-Driven
Can you imagine the world of animated cartoons and films without Walt Disney? Disney, after being inspired by a mouse in his office, created Mickey Mouse, the hero of his "Steamboat Willie" in 1928. That was his passion for cartoons. Likewise, Steve Jobs was passionately driven by technology.
True entrepreneurs are driven by their passion. When they have found their passion, there is no right or left for them. It is an imperturbable straight path for them that leads them to realise their passion. Passion is that intrinsic force that motivates them and inspires them to be productive regularly to achieve their aim.
If you often find yourself short on motivation to take action, maybe you have not yet discovered your true passion in life. However, this does not mean that you will not find it. Keep trying and discovering new things to find what you love the most.
When you find your passion in life, work becomes more fun and delightful. Furthermore, the chances of achieving success grow manifold.
Entrepreneurs Are Risk Takers
Another behavioural attribute that sets business persons apart from others is their ability to take risks. It is not that entrepreneurs do not fear the possible losses that they can incur, but despite that, they take the plunge because they recognize the enormous profitable opportunities that lie behind their risky decisions.
They are unstoppable when it comes to their work. It is the leading force in their lives, and they prefer taking any risk that helps them expand their business and achieve their milestones. They recognize the innovation and opportunity that risk can grant them.
Unlike employees, entrepreneurs want to make positive changes that result in the improvement of a business. Changes are most often risky, but true entrepreneurs are not afraid of being in a risky situation even if they fail. At least, they do not regret it. Nevertheless, it must not be confused with carelessness. Business tycoons do not just go for broke. They are calculative and prefer taking risks that are capable of yielding impressive profits.
Time Is Their Biggest Weapon
According to research by National Business Capital and Services (NBCS), about 38% of entrepreneurs admitted that self-discipline was the key to their success in the entrepreneurial world.
Many people require supervision to be disciplined. However, that is not the case with entrepreneurs. They understand the indispensability of their time. For them, Time is Money. They make appropriate management of their time to ensure maximum benefits and profits in business.
When you have your own business, your team depends on you. Imagine how your personnel would be if you are a lazy and inconsistent boss. What you are, your team will project, and the success of your business depends on them. Therefore, discipline is of utmost importance for real entrepreneurs.
Anyone can be disciplined by employing a few changes to their lifestyle. Instead of being productive twice a week, try being consistent with your work. After all, slow progress is also progress. Procrastination and indolence are always the worst obstacles between you and your success.
Apart from the aforementioned characteristics, entrepreneurs also possess the trait of being their own bosses. They want to follow no one but themselves. Many business people also showcase the habit of being avid readers. They learn from others' lives and try to employ the lessons learnt in their favour. Most of the top leaders and renowned names have been passionate readers. Additionally, they are workaholics. They live for their work, and that’s what sets them apart from the crowd.
A few people indeed have these traits ingrained. However, if you do not have these characteristics, it is primarily important to notice why you might be lacking. Once you find the reason, it might not be very difficult to be a real entrepreneur. There are always ways and methods to develop these habits to be a successful business person.
Don’t forget that entrepreneurship is a path that becomes clearer when you continue to explore it even if you fail at first, since you can learn from your experiences and ensure that you succeed in the future.