Do you have what it takes to be a successful entrepreneur?
Not all entrepreneurs are created from the same blueprint. They come from different geographic locations, upbringings, IQ levels, income brackets and social classes, as well as education levels. But one thing that is common in entrepreneurs is passion and urge to innovate.
Believe me, entrepreneurs are crazy and they are definitely not normal. It is quite tough for people around him to see his vision and most often they tend think that he is crazy nut.
Passionate about business
Passion fuels the drive and determination required to be successful, whether you are building a company from the ground up or buying an Internet business that already has a proven track record.
You have to thoroughly enjoy what you are doing — there will be long days and nights and at some points along the way your business will consume you. If you aren’t fully passionate about what you are doing the added stress and obstacles will build up on your shoulders and eventually be responsible for your collapse.
Not afraid of risks
Startup is always at highest risk and you have to be the person who can take maximum risk. If you are not taking risk today your future is quite riskier. This below quote from mark zukkerberg is apt statement for this.
Never Give up Attitude
Giving up is very easy and a entrepreneur does not see day to day success but he does see day to day failure. Some time it takes 100 failures to see success. Real entrepreneurship is like a boxing bout ” It is not about how hard you hit, It is about how hard you get hit and still stay strong” – Rock Balboa Famous.
Entrepreneur is the person who sees thing while most of the people fail to see. Your business is a research and development center, The real eureka movement is not the day you start you Idea, But the day you make it optimum for customers to use. Entrepreneurs should continuously innovate every part of the business either be it sales, marketing, technology, product, communication or people.
Most entrepreneurs are crazy and they envision great products and technology. Real entrepreneurs build what is needed in the future rather then what is needed today. That way they stay well ahead of every one in the race and rest will follow them.
Failure is part of entrepreneur life and the best entrepreneur is the one who embraces failure to learn most of out of it. Continuous learning will make a entrepreneur strong and diligent.
Staying sharp, through constant learning, will enable you to stay ahead and avoid getting passed. Read books and wake up earlier in the morning to read industry news — do everything you can to constantly learn and absorb new information.
In this fast moving generation, not just entrepreneur every one neesd to adapt to the new ways to live, Survive and Grow. For a entrepreneur this should come naturally and they should be able to adapt to every environment to grow. The word “I don’t know’ might become a adversity better get to know everything out there in this world.
It doesn’t matter if you are bootstrapping your business, using personal credit cards or have millions of dollars from investors — you must have excellent money management skills. Poor financial decisions, such as overspending or allocating funds to less important tasks can quickly ruin a business.
Have a clear financial map drawn out — what are your essential monthly expenses and obligations? How much can you allocate monthly for items that fall outside of the “essential” category? Stick to your plan and make sure all founders and shareholders are on the same page. Money problems can destroy a business the same way they can ruin a marriage.
A large set of follower in linked in or friends in facebook doesn’t make you an expert at networking. Building value-based relationships that are truly meaningful is what networking is all about — these are the relationships that lead to business opportunities and long-term relationships that are mutually beneficial.
Maintaining a good relationship with every one is essential, You never know who can become an asset for your business.
Entrepreneur should be a real leader who can inspire people to believe his vision and passion. He is a team player who can help and be part of every teams success and failure. A leader should understand the difference between him and a manager.