Owning a small business is not easy, but the vast majority of entrepreneurs would not have it the other way.
While small business owners cite “having to wear many hats” and “finding new customers” as their biggest concerns. According to research, some new startup business owners said that “The ability to “follow their passion” and the freedom and entrepreneurial lifestyle are their biggest incentives. And that’s good because small businesses continue to contribute in a big way to the whole global economy. In addition, small businesses donate 250% more than large firms to non-profit organizations and other charities.
Being a successful entrepreneur, you need to have – or develop – certain personality traits. Here are some features that would be ideal to have to start and run your own business:
Entrepreneurs are enthusiastic, optimistic and forward looking people. They believe that they will succeed and are willing to risk their own resources in pursuit of profits. They have a high level of energy and sometimes are impatient.
2. Creativity and Persuasion
Successful entrepreneurs have the uncanny ability to recognize and seize opportunities. They have strong sales skills and are persuasive and persistent when pursuing business goals.
As an entrepreneur, it usually begins as a “solopreneur,” which means that you will be on your own for a while. Thus you will be the proverbial “cook and bottle washer”, so you need a full skill set to accomplish tasks that are administrative, financial and creative.
4. Excellent Business Skills
Entrepreneurs are, of course, able to establish internal systems, processes, and procedures necessary to do the job. Focus on cash flow, sales, and earnings all the time.
One of the responsibilities as the business founder and head of the company is deciding where to take the firm long-term into the future.
Development of entrepreneurship is essential to successfully manage your career in this era of rapid change in the market and the uncertainty it brings. However, many people are not cut out to be entrepreneurs in terms of their own business, so how can you develop entrepreneurship?
* Determine your wishes, that is, you start by determining what you really want to happen. then
*Take a small step to find or create something that will allow you to take advantage of your desire. from there
* Learn from taking a small step.
* Build to learn from that and take another step. then
* Learn from that step taken.
Strong people skills
Strong work ethic
As an entrepreneur, you always have a thousand ideas in your head. The decision to implement what is always a challenge. The key to deciding idea becomes a reality lies in your interest. Getting the job you want to do every day.
To begin, follow these three insights below:
1. Gauge Audience Response
New ideas should rarely be kept confidential. The public reaction is much more valuable than the hidden potential especially when you are in increments of validity to find out which of your ideas work.
2. Become a “Jack of all Trades.”
Having primary skills like programming, marketing or sale is part of the foundation of being an entrepreneur. These are skills that have led us to be entrepreneurs, but having one skill alone is not enough to succeed as an entrepreneur.
3. Do not let the Fear of Competition Overtake you.
The fact that the idea already exists does not mean it is executed properly. Whenever frustrated with a product, a piece of technology or lack of it, you should see it as an opportunity to become an entrepreneur.
Entrepreneurs Share Their Best Advice
Mark Cuban credits his success to his dad telling him “there are no shortcuts”.
Lululemon founder, Chip Wilson, learned that people really like helping other people.
“You Look, But You Don’t See” was the most helpful advice given to Jon Taffer, who learned to look at the big picture.
Scott Adams, of Dilbert cartoon fame, was told early in his career “It’s a competitive business, but don’t give up”.
Tim Ferris, the author of the book 4 Hour Work Week, cited this advice as the most powerful of his career, “You’re the average of the five people you associate with most”.
Marcus Lemonis, credits Lee Iaccoca telling him, “Get into a business where you can be a big fish, not the little fish”.