The classic entrepreneur reveals attributes and competencies that are worth emulating. Anyone can become an entrepreneur by gaining these entrepreneurial attributes.
Throughout the world, it is a fact that the most knowledgeable people at school usually are not those who make it in life or in the world of business. These intelligent ones are often surpassed by those who time after time endeavor to succeed because, they use their qualifications to look for jobs and do not desire to make it on their own.
Entrepreneurship is very crucial to the development of any economy in the world today! Every economy that has witnessed speedy growth has done so because of the existence of a pulsating private sector. Entrepreneurship really represents the only hope of employment for the hundreds of thousands who graduates from our various educational institutions each year throughout the world because, the public sector currently employs less of these graduates.
The New Webster's Dictionary of the English Language defines an entrepreneur as " someone who runs a business at his own financial risk." It is therefore important that we all develop the art of entrepreneurship, master how to reduce risk and how to make our businesses bloom. Entrepreneurship is an art, meaning, certain requisite skills and special abilities must be acquired and developed.
Let us discuss those skills that will make you an excellent and successful entrepreneur.
Skill #1: Learn to identify an opportunity.
It is said that opportunity is seen with the mind and not the eyes. Therefore, it is important to develop our minds so to easily identify great opportunities all around us. The developing of our minds to spot opportunities begins with a change of the way we think. We are really the way we think. Therefore, the way you are make you see things differently. For example, in my country, there are two school of thoughts. One thought believe that graduates should humble themselves, combine their acquired skills to do the so call "dirty" works so to be rich. The other thought believe that graduates are the "special" ones and must sit in the glamorous offices.
But with time, I have come to the realization that, those who follow the former school of thought become the rich ones who end up employing those who follow the latter school of thought. You are really what you think! Opportunities have to be taken, but they seldom come long without a measure of risk attached to them. Opportunities when spotted, draw people in an inimitable way.
They release energy for their fulfillment and rouse people in an infectious way into doing the seemingly impossible. Just like young David in my favorite Sunday School Story of "David and Goliath", David spotted the opportunity that will catapult him to richness and fame by fighting the ferocious Goliath when everybody backed off.
It was risky for a young lad to fight such a giant but he went for it and succeeded. Change the way you think and your beliefs will change, change your beliefs and your expectations will change, change your expectations and your attitude will change, change your attitude and your behaviour will change, and when you change your
behaviour, you will lucidly and vividly see all the opportunities around you.
Skill #2: Prepare for hard work.
Yes! it is true that being an entrepreneur gives you the temerity of your time. That is, you decide where to go and at what time, which is not the case for most employees. That, not withstanding, should not pave way for slothfulness whatsoever. An entrepreneur works hard, though unlike most employees, he or she (the entrepreneur) receives the right reward for his or her labor. Entrepreneurs have time for nothing else other than work, real work. In the art of entrepreneurship, hands - on dedication is required and nothing less will be sufficient. Entrepreneurship means given your 110% commitment. All self - made millionaires would tell you this.
Skill #3: Doing something you love doing best.
In the story of David and Goliath, David had practiced on a countless number of times how to use his slingshot. In fact, it was his slingshot he used in the killing of bears which attacked his lambs. Therefore, when Saul, his King, offered him his glamorous armor, he opted for his slingshot with just five smooth stones. That was what he knew best. He also decided to fight Goliath to defend his people because to him David, he had been practicing the art of defense in the bush. So he did what he loved doing best and excelled.
Be passionate at what you intend doing. If you do what you love, you are going to be better at it with time. It is very important that you do what you love doing best because, you are able to rise again even if you fall short the first time as in the case of most entrepreneurs.
Skill #4: Prepare to take risks.
There are always some risks involved in any new mission and you have to be prepared to assess these risks, as they present themselves. Everyone, one way or the other takes risks in life. However, most of the risks most people take are the ones that do not bring about any life changing success. Rather, it is the difficult ones that bring the unbeatable prosperity that most people stay away from. In my favorite David and Goliath story, though King Saul offered part of his kingdom as well as good riches to any man that is able to conquer Goliath, everyone stayed away, including the most experienced soldiers of Israel. It was little David who risked his life, fought Goliath, and conquered him. No wonder he later became the king of Israel and very rich.
Most people are usually afraid to take risk. It is not the risk in any venture that makes them fail, but their fear to fail makes them fail. Successful entrepreneurs are not afraid to fail. They just hate to fail. Their passion to overcome risk and succeed makes them prosperous. Actually, passion is the combination of love and hate. Love for what you desire and hate for you abhor. As an entrepreneur, love to take risk but hate to fail in your risky actions. Stop telling yourself, "what will happen if I fail." I am please that in all occasions, the little word "if" is used. The entrepreneur tells himself, "how can I fail."
Usually, it the lack of the right knowledge that makes investing risk. When you know what you are doing, you overcome all risks and you succeed. It our ignorance - believing that what you don't know is not important, makes some people fall in the world of business. Education is the key for the elimination of ignorance. The education should include: time management, cash flow management, management of people, accounting, investing (the science of money making money), understanding the markets and the law. Ignorance makes investing risky.
Skill #5: Developing a clear vision.
Entrepreneurship is about going somewhere and it begins with a clear vision. When your employees cannot ascertain where you are going and what you intend to achieve,
they will have a hard time getting excited about the journey and may result in abandonment. As an entrepreneur clear vision should first communicate your purpose. With your purpose, I mean the kind of "business" you are in, where you are going and why. Your "why" must be very strong, since it easily help you do the "how".
Secondly, your vision should commune your picture of the future of your business. That is to say, what will your future be like, if your purpose is realized. Finally, your vision must portray your values, what you stand for as well as the principles you will make your in progress decisions. When your vision is persuasive, it communicates to people who you are, where you are going and what will guide your journey in the world of business.
Your vision is what keeps you and your business going, when times are really tough and will avert your business from stopping short or arriving at the wrong destination. I placed this skill last because, to me, all the other skills mentioned earlier hang on this.
You have what it takes to succeed. Go all out!