Martin Zwilling, a successful angel investor and startup mentor in Phoenix, recounts his experience at an event which was attended by people who are recently laid-off and were curious to know about entrepreneurship. Right after the initial round of introduction, it took him no time to gauge that nine out of ten did not stand a chance to succeed as an entrepreneur.
A successful entrepreneur is a unique amalgamation of different traits, abilities and characteristics which helps him overcome all obstacles and pursue his dreams. It is a big transition, especially if you are to relinquish the comforts of a 9 to 5 job and adorn the role of an enterprising business owner.
A successful enterprise requires collaboration of different entrepreneurial skills like the Vision of a dreamer, Formulation of the methodical business plan by the thinker, Putting the bits and pieces together and run the program which falls under the purview of an executioner.
While there is no proven formula or a manual guide to become a ‘Successful Entrepreneur’ there certainly are a few attributes a successful entrepreneur needs to possess in ample.
1. Result Centric
Successful Entrepreneurs are result oriented. They have a concrete and strategic plan in place to achieve their goal. They have a clear vision in their mind pertaining to what they want to achieve and how they plan to do so. Once an entrepreneur embarks on his journey to success he would rest only after achieving the desired result.
2. Determined Approach
Successful Entrepreneurs remain focused on their goal despite of all odds. Sir Winston Churchill once said, “Success is the ability to go from one failure to another with no loss of enthusiasm.” Failure is an eventuality an entrepreneur can’t shy away from. While most people would not be able to take it, an entrepreneur would try to analyze what actually went wrong, learn his lesson and bounce back with double the zeal and enthusiasm. They believe, “Tough times never last but tough people do”.
3. Proactive Behavior
Successful Entrepreneurs are proactive. If there is a task on hand they are the first to go for it and accomplish it to perfection. They are Go getters and perfectionists by nature. Certain tasks, they might not be required but still they don’t distance themselves from the routine work. Rather they choose to be an integral part it.
4. Undeterred by Unpredictability
Successful Entrepreneurs are undeterred by the unpredictability quotient attached with entrepreneurship. At times things might not work out as you would have planned. When you are at the helm of affairs in your organization taking all the strategic decisions, you need to keep your cool in any situation. Successful entrepreneurs like Thomas Edison, Donald Trump, Henry Ford, Walt Disney, Steve Jobs or Bill Gates have all experienced setbacks at some point, only to become the most successful entrepreneurs in the world.
5. Capability to Enhance
Successful Entrepreneurs are able to adapt, adopt and improve as per the circumstances. Initially the idea which might seem to be very appealing eventually might turn out to be ineffective. Entrepreneurs understand that every situation is a business opportunity, and they are constantly generating new and innovative ideas focused towards their goals in an effort to improve their business. Entrepreneurs need to be flexible enough to modify their strategic plans as per the prevailing situation.
6. Overcoming Insecurity
Successful Entrepreneurs are undeterred by the fact that their venture might not succeed. Rather they depict confidence in their behavior in such a manner that it inspires their lower ranks also. The likelihood of uncertainty does not stop them from taking calculated risk for their ultimate conquest.
7. Imparting Skills
The requisite for a good communique is to be a good listener. Successful Entrepreneurs have amazing communication skills. It is this strong hold which enables them to convey their idea, sell their product or service to customers easily. They also have this inherent ability to inspire and influence people around them.
8. Out of the Box
Successful Entrepreneurs are creative by nature. Apart from being technically well versed with their skill they also possess this indigenous quality of thinking out of the box profit-making proposition for the enterprise.
It would be a boon to be born with all these traits, but all aiming at entrepreneurship are not fortunate enough but do not fret, with some honest effort one can also learn and acquire these characteristics.