There are many definitions to who an entrepreneur is, but generally we like to confer the title on someone who has an idea, identifies a particular need, and finds a solution to fulfill it in the form of an enterprise.
Being an entrepreneur is not for the fainthearted. In times where businesses are focused on thriving, here are some qualities that would be useful:
Challenging times require innovative minds. This is because, many changes and disruptions take place in the business or with the person during that period. An entrepreneur must be creative enough to think out of the box in order to bring out solutions to issues that are being faced. Using the skill of imagination, they should always be able to bring about something different that stands out from what is already being done.
Innovative ideas must be problem solving from conception, through process, till implementation. To have a breakthrough product or service, the idea should be an answer to the need of a target market.
Anyone going into entrepreneurship should have a mindset that there will be rough times along the journey. It is in how they react to those times that would produce defining moments for the business; whether it would succeed or not.
People who are resilient are risk takers, unwavering and not afraid to make mistakes. Successful entrepreneurs show resilience during times when it is needed most; they are unmoved by circumstances and persistent in performing their duties, all in the interest of the business, keeping focus on the goal ahead.
Discipline is an important quality for every entrepreneur, especially when it comes to their attitude toward the operations of the business and also in decision making. Discipline and self-control should be a habit and exhibited in a wise way. An entrepreneur must show discipline in emotional, fiscal, behavioral, physical and mental areas.
Passion and self-motivation
When people are passionate about what they do, they develop a deep sense of commitment towards performing them. An entrepreneur who is driven by passion keeps moving even if there is no reason to, because they understand that they are headed towards the right direction. Entrepreneurs are self-motivated towards the cause; determined, ambitious and have clarity of mind of the goal ahead. With self-belief, they are motivated and not afraid to walk the long road alone when times are challenging.
Entrepreneurs are natural leaders; and though they may not necessarily be the only ones managing the affairs of the business, their input makes a big difference. They are initiators, with good planning skills, able to forecast and identify the strengths, weaknesses, opportunities and threats of a business. They command the respect of the team, and rally them to progress in achieving their goals.
Entrepreneurs must have a flexibility mindset and be willing to adapt to different situations. They must also be intentional forward thinkers and have a positive mindset. This is because the entrepreneurship journey can have low moments where there will be a need to be swift in adaptating to new ideas in time, ensuring business continuity. The ability to be flexible to change will affect business attitude and go a long way in determining the success or otherwise of the enterprise.
Networking is all about connecting with the right people who will help in different ways at any stage of the entrepreneurial journey. Since entrepreneurs are generally people who identify a need and bridge the gap with a solution whilst capitalizing on business, it is valuable for them to associate with networks that help them grow and become effective.