We’ve all considered the possibility of taking the plunge and starting out on our own. Not all of us end up taking the leap. Some of us do and get it totally wrong. Some of us just take to it like a duck to water. So what are the characteristics that seem to define a good entrepreneur? You can find 10 characteristics which are important in describing the ideal entrepreneur.
1. Risk Taker –We all know that there is a degree of risk with any new venture as much as you think you can negate it. You just don’t know what is around the corner. As an entrepreneur you need to make decision every day that involve some risk. Which contract to use, who to employ, where to grow? You have to be able to take this in your stride and not be risk averse or it will holt the growth of your business.
2. Communication skills: It does little good to have a strong mission, vision, and goals–and even a solid budget–if the executive cannot easily and effectively convey his ideas to the stakeholders inside and outside of the organization. He must regularly be in touch with key individuals, by email, v-mail, meetings, or other forms of correspondence. Of course, the best way to ensure other people receive and understand the message is with face-to-face interactions. Getting out of the office or touring different sites is an irreplaceable method of building rapport and sending and receiving messages. “Management By Walking Around,” or MBWA, meeting employees at their workstations or conference rooms, or joining them for lunch are just a few of the many effective approaches leaders can use to develop positive contacts with employees.
3. Organizer – Although entrepreneurs can be out there characters, as business people they must well prepared. It is there role to set up the systems and process by which the company should run. This means a great degree of organisation to be able to manage systems, people and priorities to best manage the current and long-term development.
4. Marketing Expert – As a skill set we often think that the ability to understand marketing is perhaps the most useful of all skills to a business startup. As an entrepreneur you must be equipped for understanding and making use of marketing tactics both internet based and offline.
5. “People” Person – An entrepreneur must enjoy people. It is them that carries the brand of the company and to interact with clients, customers and partners. They must have a desire to interact with individuals. Successful entrepreneurs are comfortable relating to other people; they easily create rapport and are at least more extroverted than they are introverted. These factors help leaders seem approachable, likeable, and comfortable in their position. Those qualities contribute to staff wanting to interact with their leader. They also help motivate employees to do a better job. When workers can relate to their boss, they believe that their boss is more concerned about them, with their performance, and with their output. Furthermore, they believe that they can go to their boss with problems they encounter on the job without fearing consequences for not knowing how to resolve issues.
6.Go getter–Entrepreneurs recognize if you want a job done well do it yourself. They are not afraid of hard work and can take on any role that is required. Versatile and hardworking to make sure the organization runs as it should. These are practically never lazy and are very easily inspired.
7. Knowledgeable –Entrepreneurs view the services and products they offer as well as have not an issue conveying each and every area of their business to interested customers or affiliates.They are not afraid to know their own limitations and to hire when they know they lack the required skill.
8. Inspiration: Quite often, employees need someone to look up to for direction, guidance, and motivation. The entrepreneur needs to be that person. Hopefully, Human Resources has hired self-motivated individuals. Nevertheless, there are times, when many employees need the boss to inspire them by word or action. Employees need someone to look up to, admire, and follow. Even when the production or delivery of services looks like “it is all going well,” the leader may at times need to step in personally to offer a suggestion or encouragement to ensure that employees perform their jobs in an optimal manner.
9. Vision: Where do you want your organization to go? A vision needs to be abstract enough to encourage people to imagine it but concrete enough for followers to see it, understand it and be willing to climb onboard to fulfill it.
10. A strong team: Realistically, few executives possess all of the skills and abilities necessary to demonstrate total mastery of every requisite area within the organization. To complement the areas of weakness, a wise leader assembles effective teams of experienced, credentialed, and capable individuals who can supplement any voids in the leader’s skill set. This ability is what sets leaders apart from others. However, the leader needs to be willing to admit he lacks certain abilities and go about finding trusted colleagues to complement those deficiencies. After building the team, the entrepreneur needs to trust that team to understand issues, create solutions, and to act on them.