Not everyone can make it as an entrepreneur. The few who started businesses just because they had some money in their bank accounts failed terribly. Companies are always on the lookout for individuals with excellent entrepreneurial skills who can help them realize their visions. Such individuals are in short supply. However, it is encouraging to know that while one might not possess all the attributes of a successful entrepreneur, the other attributes can be learned. This essay details some of the major qualities of successful entrepreneurs. Some of the attributes covered in this essay include integrity, self-discipline, decisiveness, excellent communication skills, and competitiveness.
Integrity
The most important attribute of a successful entrepreneur is integrity. While there are scores of entrepreneurs who have been successful in their dealings through unscrupulous ways, they do not last for long. Once clients get wind of the entrepreneurs’ dishonesty, they can no longer trust the entrepreneur. As such, they are left with no option other than to sever their ties with the entrepreneur. It is, therefore, important for an entrepreneur to live by his words. While an entrepreneur may be tempted to cheat for his benefit or for the client’s, it is never the right thing to do given that customer trust and respect are earned incrementally over time.
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Also worth pointing out is the fact that success in entrepreneurship is determined by the number of people who trust the entrepreneur, who help the entrepreneur during difficult times, lend the entrepreneur money, or are willing to work with the entrepreneur. Hence, one incident of dishonesty, however small it may be, may destroy the entrepreneur’s reputation and thus ruining his business. Entrepreneurs build their character as long as they are in business. Character is what determines whether the entrepreneur will be considered as trustworthy or not.
Particularly noteworthy is the fact that entrepreneurs give and keep their promises. As such, they cannot give a promise they cannot deliver. What is more, whenever there is a problem or an issue that can make it impossible for the promise to be fulfilled, they communicate with their clients candidly and truthfully.
Self-Discipline
The renowned actor and WWE wrestler Dwayne Johnson once said that “All success begins with self-discipline. It starts with you.” This is true considering the fact that entrepreneurs do what most people do not. They always arrive early at the office and leave after everyone. They go the extra mile in whatever they do. Self-discipline helps entrepreneurs to develop inner strength and confidence that enables them to make weighty decisions with a clear mind.
Entrepreneurship is not an easy journey. Hence, by being self-disciplined, entrepreneurs develop a thick skin that helps them deal with hard times. More so, the entrepreneurs get the courage to turn bad times into good times. In fact, most entrepreneurs reiterate that it was the bad times that they went through that brought the best out of them.
Self-discipline involves self-control, self-mastery, and self-responsibility. Self-Discipline helps an entrepreneur to eliminate such retrogressive behaviors as procrastinating, addictions, and being lazy. While an entrepreneur spends time on leisure activities, he always has a clear mind as to what his goals and objectives are. He, therefore, will not compromise his working procedure nor lose track of his destination. In other words, self-discipline helps entrepreneurs to stay on track in as far as what they want to accomplish is concerned.
A self-disciplined individual will force himself to do a task whether he likes it or not. That inner drive makes the entrepreneur a dependable person. Moreover, self- discipline enhances one’s integrity. For instance, if an individual strives to meet his personal objectives, he won’t find it difficult to meet the clients’ objectives. In the long run, his discipline will earn him trust and respect from his clients and partners.
Decisiveness
Successful entrepreneurs are not close-minded. They have to be able to think on their feet at all times and make informed decisions. Given that human is to error, they are also prone to make mistakes when making decisions hurriedly. However, they identify their mistakes and correct them as fast as they can. They are also not afraid to reverse their decision and take a totally different approach from what they are used to, especially if doing so will lead to a positive outcome.
Notably, most entrepreneurs are leaders. They make decisions on a daily basis. Therefore, they have to try out different alternatives before settling on the one that serves the interests of their clients. Additionally, they also have to stand their ground and respectfully overrule alternatives they believe are not suitable for their businesses’ success.
Some decisions are laden with mistakes that may come to light in the future. For instance, an entrepreneur may decide to adopt a certain marketing strategy after brainstorming with his juniors. He might have overruled a couple of alternatives in favor of his alternative. In case his decision does not yield the desired results, he does not shift blame. Instead, he takes responsibility for his decision and seeks ways to remedy the situation. After all, the business’s success or failure is dependent on his decisions.
Excellent Communication Skills
An excellent entrepreneur is an efficient communicator. Given that he deals with different people from different backgrounds on a daily basis, he must have excellent communication and interpersonal skills. More so, he has to deliver persuasive presentations to clients. He, therefore, must have a mastery of modern presentation tools. Most importantly, he should be capable of appreciating the importance of emotional intelligence when dealing with different types of people.
Technology has made it difficult for entrepreneurs to be good listeners. The advent of smartphones has been a blessing to entrepreneurs. However, it has also been a distraction. For instance, a smartphone can be used to write notes or record a conversation. However, the same smartphones can act as a distraction, especially when an entrepreneur is being texted while attending to a crucial meeting. Efficient entrepreneurs ensure that their digital gadgets do not prevent them from being good listeners.
Essentially, entrepreneurs should be good at interpreting non-verbal cues. By studying a client’s posture, gestures, and facial expressions, the entrepreneurs can identify important clues to determine whether a client is happy with a deal or he is just taking it because it is the only deal on the table. In the same breath, an excellent communicator will know when to pushback and when to sit back. When managing conflict, an entrepreneur must use his communication skills to communicate under pressure. He should be able to push back in a polite and respectful manner and to focus on a mutually beneficial resolution.
Competitiveness
A majority of the companies that operate in almost all industries have competitors. These competitors are constantly coming up with new ways of doing business. For this reason, an entrepreneur cannot afford to sit on his laurels and expect everything to go as planned. Most entrepreneurs make the mistake of starting a business and sitting pretty expecting the business to grow by itself and bring in revenue. They may allocate all of their funds for starting a business but fail to invest in training and innovation.
Competitiveness can be gained through constant improvement in skills. An entrepreneur should not be content with his level of skills or training. He should instead familiarize himself with new trends and business skills. By staying informed, an entrepreneur can easily identify a change in consumer sentiment and come up with a strategy that is superior to his competitors’. Failure to do so, the entrepreneur’s business is likely to lag behind and to lose most of its revenue sources. It is, however, worth pointing out that if the entrepreneur is not in a position to acquire the much-needed skills, he can as well hire an independent contractor who can bring in the required skill sets. In the same breath, he can invest in his employees’ education so as to equip them with much-needed skills.
Conclusion
As a matter of general cognition, entrepreneurship is a noble endeavor that requires dedication and self-discipline of the highest order. Entrepreneurs do things differently from all other people. They always go the extra mile when handling business. They are not afraid of making mistakes, for they know that it is through mistakes that they get to refine their entrepreneurial skills. Particularly important is their character and reputation. They are always trustworthy and are not afraid to admit to their mistakes. Customer satisfaction is their priority. As such, they always ensure that their customers’ wishes and interests are respected. They also have a life like other people. However, they do not allow daily life activities to distract them from their goals and objectives.
