So far, in part of our series on business, you have identified your non-negotiables—those people or things, places, and dates that you will not sacrifice or give up.
In the second part, we talked about websites and data sources to help you find the competitors.
In part 3, we spoke about the importance of focusing your attention and starting with a small size.
Perhaps we could have asked the more fundamental question What do you think you’ve got? Do you have the right qualities, the kind of personality that is compatible with the personality of an entrepreneur? The gurus of the entrepreneurial world are all in agreement on a shared pool of traits that are reliable predictors of success in business. There are actually five distinct types of traits that appear to define a successful entrepreneur.
S/he
1. It thrives on ambiguity and uncertainty.
It is high in risk toleranceEntrepreneurs accept and embrace the risk in vs. reward reality with a firm belief that the willingness to accept risk is directly linked to the probability of success. In other words, the more risk, the higher the risk, and the higher the chance of a reward. The person who is resilient is aware of the knowledge that innovation can be messy, uncertain, and uneven. He can stretch without breaking.
2. Are enthusiastic and optimistic about their beliefs and the world around them
Entrepreneurs do what they enjoy and are awed by what he does. He doesn’t just see the glass as half-full and is happy coming up with creative ways of filling it up to the top with fresh and exciting opportunities. Entrepreneurs are motivated by a compelling and clear conviction. Indifference, boredom, indifference, and pessimism do not form part of the vocabulary of an entrepreneur or reference frame.
3. is focused on the goal, decisive and persistent.
Entrepreneurs aren’t just ‘idea people’; they are people who do. While other people linger in talking about themselves, entrepreneurs focus on walking the walk.’ This is done even in the face of critics as well as obstructionists, failures, and defeats. In reality, the more resistance an entrepreneur faces, the more determined he/she will be to keep pushing to bring an idea to life.
4. Willing to learn and listen is an excellent communicator with interpersonal skills.
Regards people as the most critical natural resource
The entrepreneur is aware of listening for understanding and also how to market their item or product to prospective financiers and clients. Being keen observer of human behavior and the entrepreneurial person has developed their leadership skills to inspire and inspire. The entrepreneur is confident enough in her self-esteem of his/to attract the top and brightest collaborators.
5. Finds opportunities where others may see issues.
Entrepreneurs embody the saying, “Those who say it can’t be done should get out of the way of those who are doing it.” Failure isn’t an alternative. It’s not about how something can be achieved. However, it’s more of a challenge on how it can be made successful. Entrepreneurs thrive in solving problems, challenging traditional ideas, and challenging the norms of the game.
Do you recognize the word selfie from the description above? If yes, then proceed upward and continue onward. It’s a final note of caution from an entrepreneur who self-describes as not being one. To quote a passage of Tom Hanks’ role in the film “A League of Their Own,” when he responded to complaints of a member of his teammates about the difficulties of being female players was, he replied, “Yes, it’s hard! It’s supposed to be difficult. If it wasn’t so hard, everybody would be doing it! It’s the hard work that makes it so great!”
Every successful entrepreneur will answer unambiguously, “Yes!