Who is an Entrepreneur? An entrepreneur is a person who sets up a business, taking on financial risk in the hope of profit. An entrepreneur can also be called a business woman, or a business man.
It takes a lot more to succeed as an entrepreneur; in today’s post we share ten (10) common traits of entrepreneurs:
- Focus on people: entrepreneurs are skilled in interacting with people. They learn about people and their personalities just so they could sell their ideas to them and yet keep them as friends. They also communicate with people a lot in order to build networks in their various fields. Networking provides a ladder with which business owners attain their desired height in whatever they do.
- Resilience: entrepreneurs never settle. They always know that there is room for growth and improvement. This makes them push harder and reach beyond previous success.
- Profit consciousness: entrepreneurs are very concerned about making profits, which is a good thing. However, if this is not balanced, they could ride on their clients (i.e. make profits to detriment of their clients). This is where cheating or exploitation of their clients/customers comes to play.
- Competition: entrepreneurs are very competitive and this helps them to keep evolving as they strive to lead their respective industries and stay ahead of their competitors. They know that once they can satisfy a client with little or no error, they leave a good impression with their clients, which makes clients always come back to them. Remember the popular saying, “the money is in the comeback”?
- Sales and marketing orientation: every good entrepreneur knows that if you can’t express what it is that makes your product or service a solution and not a problem, then who will? They know that if they don’t possess the ability to sell and promote their businesses, it would be a tougher battle out there in the market place. So they learn how to persuade and make people believe in what they do and, most importantly, buy into what they do.
- Innovation and creativity: good entrepreneurs are very creative and innovative all because it is a very good and proven act of securing their clients/customers. They come out with creative ideas, better packaging of products, new and improved customer services etc. they know that it is one act that makes their clients/customers feel special and also it helps create awareness for their brand.
- Passion: passion is one driving force that keeps entrepreneurs going. They put in passion in whatever they do and that serves as a great motivation for them. In fact, I would say that an entrepreneur without passion is like a vehicle without an engine. Passion is what keeps their head up high against all odds. I consider it as the most important trait.
- Hope: entrepreneurs are very hopeful people. They build confidence and belief in themselves and what they do. They believe that no matter how the situations turn out, they will pull through and succeed. They also tend to fit into any given situation. They know that when something is not working, the onus is on them to make it work.
- Teach-ability: every entrepreneur has mentors in business either knowingly or unknowingly. They have people or particular persons to whom they look up for strength and guidance. They have mentors – people who have succeeded in the path these entrepreneurs have chosen to follow. These are people who remind them of how successful they can be in the future.
- Fear of the unknown: fear is one trait that every entrepreneur had when they were starting out their business. Each of them had fear of failure. They thought to themselves at some point, “what if I put all my hopes, dreams, aspirations, money, and energy, etc. into this business, and it still fails?” They also had the fear of rejection; “what if nobody accepts me and what I do? That will lead to poverty!” They all had this fear, and the courageous ones still started in spite of the risks involved.
Not every entrepreneur is successful, but every entrepreneur can be successful only if they are given to learning and determination. Be given to learning, look out for better ways of managing your business by reading, watching videos from business seminars, and participating in conferences organized by businesses within your local community, or even internationally. By so doing, you are well on your way to achieving success.