Entrepreneur is a term thrown around generously in the e-Age.
Everywhere you turn a 'seven-figure entrepreneur' is sharing advice - or an invitation to sign up for their masterclass on how to become a seven-figure entrepreneur.
This is a question open to much debate and conjecture over the years. Ask the dictionary and it will tell you:
"Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business."
The trouble with this definition is that a lot of businesses, especially small ones, don't last very long. And that's not what we think of when we hear or say the E word.
In our minds, entrepreneurs are people like PT Barnum, Walt Disney, Henry Ford, Coco Chanel, Steve Jobs, Oprah Winfrey, Richard Branson and Mark Zuckerberg.
Or someone closer to home who is doing inspiring things in a new way and making a real difference. A person in your own industry, local area, group of friends, even your family.
So, for this quiz, we're going with the original French connotation of
"Adventurous, imagination, daring, and success"
See how many traits you share with the most successful entrepreneurs.
1. Have a genuine passion
The foundation on which everything entrepreneurs stand - an infatuated level of love for what you are doing and want to achieve.
Choosing something that you love means you come with an inherent interest in it, a desire to have a deeper understanding of it, a willingness to continuously learn about advances in the area, and a craving to tell the world about it.
2. Grab opportunities 24/7
Natural entrepreneurs don't sit around waiting for things to happen. They create their own fate. They are always ready for opportunities, often generating them where others can't see the possibilities or realise too late.
Even in their downtime - socialising or relaxing on holidays - entrepreneurs are alert for the next big thing. Or dreaming it up themselves while laying by the pool sipping on cocktails.
In 1995, Pierre Omidyar created a personal website, AuctionWeb, so he could sell a few personal items.
Over time, he noticed an uptick in traffic and seized that opportunity to make a business out of it. 22 years later the business he founded turns over $9 billion a year and employs 12,000 people. You may know it as eBay.
3. Be prepared to take risks
Business is all about risks and rewards and no-one knows this better than entrepreneurs. All entrepreneur are optimists. The good ones are those who can weigh up the risks involved, and know when to take them on.
Many of the world's most successful entrepreneurs dropped out of college to pursue their dream - Bill Gates, Travis Kalanick (Uber), Julian Assange, as well as Jobs and Zuckerberg.
Of course, there are many successful entrepreneurs who did finish college and many other dropouts who failed.
But if the idea and passion are strong enough, born entrepreneurs will find a way. Even if it's not the original idea that brings success.
Which brings us to
4. Possess ironclad self-belief and confidence
For any business person to hang in there, often for years, through setbacks and successes, challenges and opportunities, requires a lot of belief.
Knowledge and experience are invaluable, but they're no substitute for unwavering faith in yourself and your business. Especially during the early hours when you're staring at the ceiling with a thousand thoughts and challenges running through your head.
In 1917, a young Japanese electrical apprentice named Konosuke Matsushita invented a new light socket. His boss was unimpressed.
Despite a lack of formal education, Konosuke persevered and went on to create Panasonic. He's also known in Japan as 'the god of management'.
5. Accept and embrace change
Change, like risk, is another given in any business environment. Entrepreneurs understand that to stay on top you need to be open to change and adaptable in good times and bad.
This includes a readiness to listen to people who know better, even if they are much younger and less experienced.
Part of this is also about tenacity - having the ability to handle a variety of situations and the determination to bounce back when things fail or don't go as hoped.
6. Have a knack for managing, networking and sales
Dealing well with people, employees, vendors, customers, partners, stakeholders is all in a day's work for an entrepreneur.
So just having a mind for business often won't cut it. Unless you also have a big personality partner in crime.
Entrepreneurs who are willing and able to build and maintain relationships with a variety of people tend to be more successful in business.
An astute entrepreneur needs to be a born salesman. Not just to be constantly thinking of selling his products and services, but to affect turnover and profit. For this reason, communication and interaction skills are the last essential tool in the natural born entrepreneur's toolbelt.
Not every successful entrepreneur is born with all of these traits. Most are only natural masters of a few. However, the ones that succeed understand the importance of the other traits, and either learn to do them as well as possible, or partner up with someone who already does.
How many of these 6 personality traits do you possess? How many could you do better?
The simple fact that you read this far suggests you're on your way to big things.
When you get there, be sure to remember us little people who shared these invaluable tips with you, ok?
|Tags: Business Marketing|