Without mincing words, entrepreneurship is one of the new crazes of this century. There have been misconceptions about who truly is an entrepreneur. Who do you know if entrepreneurship is your calling?
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There are different types of entrepreneurship, and there are characteristics that make one an entrepreneur. These enterprising qualities are unique and need to be honed. That is why it is important that the entrepreneur is prepared before venturing into any business. At the Start Your Business in 30 Days Program, we prepare you to be a successful entrepreneur. Click to enrol in the program.
Everyone Wants To Be an Entrepreneur
A few months back, I attended a career fair event with my boss as one of the employers. As a requirement, all employers were to come with their company’s roll-up banner, so students could recognize their company of interest. In compliance, we went with both the ReDahlia and Entrepreneurs.ng banners.
See Also: What nobody tells you about entrepreneurship
To our surprise, a large number of students trooped towards our stand. Curiously, we asked the students what informed their decisions, and we discovered that 90% of them came because of the entrepreneurs.ng roll-up banner.
Apparently, most of them are aspiring entrepreneurs and would love to work with a company where they can hone their entrepreneurial skills or get start-up funding. Obviously, that was just one of the many cases that happen these days.
For the purpose of this article, I will be expounding on who an entrepreneur is. Entrepreneurship is the summation of many rare traits found in a few persons. In other words, you can call an entrepreneur an ‘all-in-one’ personality. You may ask, why call them all in one? Well, you will discover soon. Just ensure you read till the end.
See Also: Characteristics of an entrepreneur that ensures business success
Who is an Entrepreneur? Qualities of an Entrepreneur
An entrepreneur is someone who has the following qualities:
1. An Entrepreneur Is A Creator
An entrepreneur has the ability to bring something new into existence, turn imaginations into realities, and bring out the oil in an ordinary idea. He or she does not expect a reward until creating value for someone else.
On the other hand, an entrepreneur may not be the originator of the idea, but he/she ensures the idea comes to fruition.
Now, we can say that starting a business alone does not make you an entrepreneur, but keeping the business afloat in the face of challenges does.
See Also: Why Entrepreneurs Must Read
2. An Entrepreneur Is A Risk Taker
In truth, successful entrepreneurship involves continuous risk-taking. Without risk, you may one day decide to quit being a business owner. In a nutshell, a true entrepreneur tends to bite off a little more than he can chew and sees risk as a stepping stone to the next big break.
However, risk-taking does not involve some careless decisions that can send a business to its ruin. Rather, an entrepreneur takes calculated risks with careful planning and hard work.
See Also: List of successful entrepreneurs in Nigeria
3. An Entrepreneur Is A Leader
According to Peter DeLisle, a late English cricketer, leadership is the ability to influence other people, with or without authority. Typically, subordinates find it easy to obey their superiors due to the position gap. However, an entrepreneur inspires others to share in their vision and take initiative, even without relying on hierarchical authority.
Furthermore, possessing strong interpersonal skills is a necessity for a true entrepreneur because, at every point in time, they will need to interact with people. Therefore, the success or failure of these relationships significantly impacts the success or failure of the business.
See Also: Four ways to go into Entrepreneurship
4. An Entrepreneur Is Accountable
An entrepreneur bears responsibility for the outcome of the venture, whether it turns out positively or otherwise. This awareness compels them to adhere to the defined goals and ensure their achievement.
While the idea of being your own boss, setting your own rules, and managing your time is appealing, entrepreneurship, in contrast, requires a higher level of accountability and responsibility compared to a conventional 9-5 job.
See Also: 100 Business Ideas for budding entrepreneurs
5. He/She Is A Sound Decision Maker
An entrepreneur faces daily decisions that can significantly impact the company’s future, and often, these decisions must be made within a short time frame. As a result, they need to be critical, intelligent, and quick thinkers.
While an entrepreneur may not achieve a perfect decision-making record, mastering the art of a sound decision-making process is crucial. This proficiency minimizes the likelihood of making incorrect decisions to the barest minimum.
6. An Entrepreneur Is A Problem Solver
Entrepreneurship fundamentally revolves around problem-solving. Serving as both the founder and team lead, an entrepreneur identifies and resolves issues for employees, customers, partners, investors, and the company as a whole.
While every entrepreneur has their unique approach to problem-solving, in general, they do not accept defeat and are willing to experiment.
See Also: Young entrepreneurs in Nigeria across different sectors
7. An Entrepreneur Is Self Confident
Entrepreneurs have confidence in their abilities and do not require external motivation to take significant actions. Furthermore, they are unafraid to explore new and unfamiliar territories.
While some may initially grapple with a lack of self-confidence, the good news is that self-confidence can be developed over time. In reality, the extent to which a founder can succeed is inherently linked to the cultivation of their self-confidence.
See Also: Business challenges faced by entrepreneurs in Nigeria
8. He/She Is Knowledgeable
Indeed, knowledge is empowering. An entrepreneur is a versatile individual who understands the trends that can impact or enhance their business. A key characteristic of an entrepreneur is a commitment to reading. They stay informed and stay sharp. For an entrepreneur, no knowledge is considered wasteful.
Often, entrepreneurs possess a broad understanding of various subjects. Most importantly, an entrepreneur is proficient and well-informed about their area of specialization, including the laws, requirements, competition, and all aspects of the industry in which they operate.
See Also: Business lessons from the men who built America
9. An Entrepreneur is Passionate
An entrepreneur is an individual driven by passion, dedicating themselves wholeheartedly to their pursuit every day, regardless of their feelings. Truly, it is only passion that can motivate a business owner to work for almost 17 hours a day.
Passion is the force that enables entrepreneurs to navigate through the storms, endure pain, learn from mistakes, and overcome challenges experienced in the early days of the business.
See Also: How an entrepreneur should deal with fear
10. He/She is a SalesPerson
The primary motive behind starting a business is to generate profit. Beyond the attractive office structure and well-tailored suits, the sustainability of a business heavily relies on the number of successful sales. Therefore, a business owner does not underestimate the significance of selling; it is the lifeblood of the business.
We will help you harness all these qualities so you can build a sustainable and successful business. Learn how you can work with us to start your business here.
How We Can Work with You to Start And Grow Your Business
If you want to work with us to start a profitable and sustainable business, then enrol in the Start Your Business in 30 Days Program. We will take you from idea to starting your business in 30 days.
Every week, our founder, Florence Chikezie teaches practical business lessons that have helped thousands of entrepreneurs start and grow their businesses. If you want to benefit from her teachings, click to sign up for the weekly business lesson here.
She is an internationally trained award-winning entrepreneur running three profitable businesses and a member of the prestigious Forbes Coaches Council. She helps aspiring entrepreneurs start and set up their businesses through her program- Start Your Business In 30 Days.
And, she work with companies and established corporations to scale their impact and revenue. Reach her at Florence@entrepreneurs.ng if you would like to transform your business.
See the different ways we can help increase your business success.
