Do you have what it takes to be a successful entrepreneur? What makes someone a successful entrepreneur, anyway? There is no one defining the characteristic of being an entrepreneur. It certainly helps to have strong expertise in a key area, but there is more to being an entrepreneur than being an expert on a particular subject matter.
No matter how you choose to define being an entrepreneur, getting there requires a lot of hard work and determination. So, let us take a delve into the makings of an entrepreneur. What makes a business person? How do you find out that you are destined to be an entrepreneur?
Though there have been many studies on the subject, researchers have not been able to find out one definitive answer. What they do know is that successful magnates have certain traits in common.
1. Personal Characteristics
Being an entrepreneur is much more than having big ideas and starry dreams. It requires one to have strong mettle, be a force to reckon, be committed, and goal-oriented amongst others. Ask yourself the following questions:
Being Positive: Are you an optimist? Being an optimist is truly the epitome of entrepreneurship. It will help you face failures and get through the hurdles that entrepreneurs surely experience as they find something that works for them.
Having Vision: Having a vision for your business goes a long way. Ask yourself these questions—can you see for yourself where things can be improved? Can you visualize the “big picture,” and make decisions accordingly? Can you inspire your co-workers to share your vision? Do you have the wherewithal to plan and organize?
The Desire for Being in-Charge: Do you like being in control and making decisions, as well as being responsible for the decisions you make? How good are you at making decisions? Do arrive at a decision rationally, or emotionally? Are you prepared to face the consequences of your win decision?
Leadership: Are you a leader? Are you motivated enough to lead others? Do you take initiative; for instance, do you initiate problem-solving and troubleshooting?
Perseverance: Are you motivated enough to see your business through? are you energetic, mentally, and physically? Are you prepared to work hard every day, for a long time, in order to realize your vision and goal?
Toughness: Being an entrepreneur calls for being tough in certain situations. Are you that tough person, who would be able to pick him/herself when you fall down? Do you learn from your mistakes?
2. Interpersonal Skills
Interpersonal skills can also be called “social skills”. These are a set of skills that people use while interacting and communicating with one another. For instance, emotional intelligence, public speaking, team presentations, professional writing like work e-mails, listening, etc., come under the ambit of interpersonal skills. As an entrepreneur, you’ll have to work closely with people from all walks of life. This is where interpersonal skills come into play. You need to be able to build great relationships with your coworkers, clients, shareholders, vendors, investors, and more. You also need to be able to negotiate, think on your feet, resolve differences in a positive manner, and be ethical.
Some people are more gifted while others are not, but fortunately, interpersonal skills can be learned and improved. you can learn and improve these skills.
3. Critical and Creative Thinking Skills
Critical thinking and problem-solving are especially important for entrepreneurs. It prevents you from chasing down every bright little thing and chasing round and round. Being creative think up unorthodox ideas and find nonconformist solutions to the hurdles you face, but the capacity for critical thought helps to make a decision and test whether an idea—however positive it might seem—is viable.
How good are you at having a little perspective, recognizing opportunities and spotting tends?
Many people think that creativity cannot be learned. This is a wrong assumption. Once you have identified your area of improvement, you can take steps to rectify it. Creativity is a skill that you can develop, provided you invest your time and effort.
Now you know what kind of skill it takes to become an entrepreneur. But, how do you identify a skillset within yourself? If you want to be successful, you need to know yourself first—analyze your strengths, weaknesses, and other traits. Knowing yourself opens the door to understanding others—leading you to establish more successful relationships. If you need help in analyzing your trait, top management consulting firms can help you.
To help to struggle as well as established entrepreneurs, OurBusinessLadder has come up with EAT, the Entrepreneurship Analysis Tool. This is basically a self-assessment tool designed to help answer critical questions related to your personality, abilities, weaknesses, and skillset. Basically, it is a psychometric test. A psychometric test measures the individuals’ mental capabilities and behavioral traits—which can help you understand yourself and map your personality.
The EAT tool contains a series of multiple-choice questions. Once you are through the questionnaire, we will give you a detailed report including specifics on your strengths, weaknesses, areas of improvement, techniques to improve your skillsets, and your entrepreneurship score.
By taking the analysis test, you can get to know your innate traits and characteristics and redefine them to match your business vision.
Ourbusinessladder is a Business Consulting Firm in India, specializing in business advisory and market research. We have helped several startups gain ground and helped established businesses turn their game around.