When we hear the word entrepreneur, we normally think about people with limited funding and financial resources but with a strong instinct for business. We think about people who are not afraid to take financial risks, and are passionate about embracing their market-driven ideas – people who are determined to sell their products or services because they believe in themselves and in the idea of why their business matters and why it is relevant.
But what really is an entrepreneur? Who is an entrepreneur?
An entrepreneur is a person who starts and operates a business, usually a small business venture, after seeing an opportunity to sell and generate revenue despite the accepted risks and challenges.
Most people believe that being business-minded or being business-savvy is an innate trait that one is born and blessed with. It’s true to a large extent but it can also be acquired with the right mindset and under the right circumstances. If you have a natural entrepreneurial spirit or if a strong sense of entrepreneurship courses through your veins, then you’re among the lucky and not-so-small minority who are poised to put a smile on customers’ faces and warmth in their hearts, all while eliciting strength in their economic health.
But not all entrepreneurs become successful. We all know that. In fact, most are not. Not a few of them struggle and lose money. Yet many also recover and find their way back to profit land. The rest of them are stuck between next-level success and anxiety-inducing failure. It happens to the best of them. Still, a lot of determined entrepreneurs become successful in their business. They’re the ones we cater to everywhere we go when we decide to go to the car repair shop, beauty parlor or buy a hotdog sandwich from a vendor.
To be a cut above the rest and be an exemplary model for aspiring entrepreneurs, there are six characteristics that define and distinguish a successful entrepreneur from the rest of the pack: Gutsy, Strong-Willed, Great Business Acumen, Sharp-Minded, Customer-Centric, and Adaptability.
But what really is an entrepreneur? Who is an entrepreneur?
An entrepreneur is a person who starts and operates a business, usually a small business venture, after seeing an opportunity to sell and generate revenue despite the accepted risks and challenges.
Most people believe that being business-minded or being business-savvy is an innate trait that one is born and blessed with. It’s true to a large extent but it can also be acquired with the right mindset and under the right circumstances. If you have a natural entrepreneurial spirit or if a strong sense of entrepreneurship courses through your veins, then you’re among the lucky and not-so-small minority who are poised to put a smile on customers’ faces and warmth in their hearts, all while eliciting strength in their economic health.
But not all entrepreneurs become successful. We all know that. In fact, most are not. Not a few of them struggle and lose money. Yet many also recover and find their way back to profit land. The rest of them are stuck between next-level success and anxiety-inducing failure. It happens to the best of them. Still, a lot of determined entrepreneurs become successful in their business. They’re the ones we cater to everywhere we go when we decide to go to the car repair shop, beauty parlor or buy a hotdog sandwich from a vendor.
To be a cut above the rest and be an exemplary model for aspiring entrepreneurs, there are six characteristics that define and distinguish a successful entrepreneur from the rest of the pack: Gutsy, Strong-Willed, Great Business Acumen, Sharp-Minded, Customer-Centric, and Adaptability.
NUMBER ONE
GUTSY
Successful entrepreneurs are known for having the courage to take risks in a sometimes and rather uncomfortable business environment. Without this requisite trait they wouldn’t even dare to invest their time on developing ideas about a potential profit-making venture, let alone gamble their money.
This gutsy determination that is inherent in them is not much different from the natural daredevil attitude of extreme sports athletes. As the saying goes, “No Guts, No Glory.” To think about success, you first have to conquer your fears.
NUMBER TWO
STRONG-WILLED
Successful entrepreneurs are not only gutsy, they’re also strong-willed. These two characteristics go hand in hand like bread and butter. An entrepreneur who is strong-willed will do whatever it takes to start, operate, enhance and modify his business to suit the needs of the market and generally the customers. That despite hearing discouraging or even insulting words from people, including friends and family.
To quote another old saying, “No Pain, No Gain.” Even if it’s mentally and emotionally daunting to embark on a venture with the assumed risks, a strong-willed entrepreneur will not pass on any opportunity to create something that can be profitable and at the same time helpful to the society.
NUMBER THREE
GREAT BUSINESS ACUMEN
The best entrepreneurs have the greatest business acumen. That means they know the ins and outs of selling, marketing, promoting and acquiring customers in a way like it’s hard-wired into their brains or it’s occurring naturally in their DNA. Similar to a young person with an aptitude for music and becoming a professional musician later in life, successful entrepreneurs can analyze the simplicity and complexity of running a business as if it’s part of their core.
NUMBER FOUR
SHARP-MINDED
You can’t be a successful entrepreneur if you don’t normally think clearly. A clear-thinking, precise and logical mind is a must for entrepreneurs to always be one step ahead of the competition. To be sharp-minded is to be at the top of their game. Having a sharp mind is important in making important and critical career-making and career-breaking decisions. It can mean the difference between raising a glass to celebrate and breaking a glass to release anger.
NUMBER FIVE
CUSTOMER-CENTRIC
Not because you’re an entrepreneur means you intrinsically value your customers’ well-being. Successful entrepreneurs take the time and effort to study the needs and wants of their customers. They wholeheartedly focus on providing top quality products and services for their patrons. Because they believe the customers are like the battery in a car – so to speak – and it’s as important as the engine (the business).
NUMBER SIX
ADAPTABILITY
Successful entrepreneurs know how to go with the flow and with good reason. They study the market well and when necessary, won’t hesitate to adapt to what is trending in the industry in terms of gaining leverage in marketability and revenue. This includes taking advantage of what technology has to offer. Part of the result of being adaptable is to become innovative in the process. They tend to create new ideas as they go with the flow.
So if you want to be a successful entrepreneur, adapt these characteristics and make it a lifestyle.