Do you know what it takes to be an entrepreneur? Not many know what it truly takes to be an entrepreneur. Well, being an entrepreneur definitely takes more than having passion and a desire. Let’s look at the definition of an entrepreneur. An entrepreneur is a person who starts a business and is willing to risk loss in order to make money (Merriam-webster.com, 2013). Are you willing to risk it all? Unfortunately, most people aren’t ready to risk it all to ensure success, yet they strike out to become an entrepreneur.
If you believe that you are the consummate entrepreneur then you already know the qualities you possess to be successful. If not then you are in luck… here are the traits you need to be a great entrepreneur:
- Passion. Passion alone will not pay your bills; neither will it make you a successful entrepreneur. You need passion to keep you going when you can’t conceive moving forward because passion is the fuel you need to handle it.
- Sacrifice. Many people are not willing to give up anything when the word sacrifice is mentioned. But to be a successful entrepreneur you have to be willing to give up time, money you don’t have, family interaction because you know all of it is for a greater purpose.
- Creativity. Again, this one quality alone does nothing for you. Heck there are creative people with day jobs. So being an entrepreneur you have to be more than willing to think outside the box and make everything your own.
- Vision. You need vision with anything you do. And for an entrepreneur vision is a must have because without you are just shooting in the dark hoping for a score. Don’t do that. Take the time to write out the vision for yourself as an entrepreneur and then identify the steps that will get you there.
- Thick skin. You will hear NO so many times that you will start to believe that YES is a mystical creature. But in order to be successful as an entrepreneur hearing the word NO will make you more determined to find the YES. So stacks you NOs and develop a thick skin.
- 6. Industry Knowledge. Does it bother you to ask another entrepreneur an industry specific question just for them to say they don’t know? Well as an entrepreneur you must know what’s going on in your business as well as your industry. In the book, Get Your Head Out of the Clouds, This is Business it shares with reader the importance of being educated as it relates to your industry.
- Network. In order to be an effective networker you have to understand the importance of attending an event that’s socially based versus attending an event that’s business based. There is a huge difference. A rule of thumb is to dig more into the details of the event and ask people who have attended previous events. “If you are still unsure then head on over with business cards in hand and spend at least an hour to determine if it was worth your time. You at least get the exposure, even if you don’t get the contact,” says Brian Joubert.
- Work Ethic. This is the most valuable trait to have as an entrepreneur. Your work ethic must be greater than anyone you know because as an entrepreneur you understand what it means to be first in/last out.
- Your Circle. Who are you hanging with? Are they the same people as you? Do they have the same drive as you? Are they inspiring and uplifting you? If you can’t answer these questions positively then it might be time to change circles. As an entrepreneur it’s important to hang around people who are going or have been where you are. Failing to align yourself with people who are better than you potentially means staying defeated and stagnate.
- Learn. Again being knowledgeable about your industry is important but learning other things is important too. When you learn about not only your industry but other industries then you become a benefit to others. Don’t think you only need to be an expert in your industry. No your goal as an entrepreneur should be to be an expert overall.