The Entrepreneur

Do you have the guts to become an entrepreneur? What makes an entrepreneur? Are entrepreneurs trained or are entrepreneurs born?

Before a doctor gives medication to his patient, he would interview his patient. He would ask what he feels and when does he have these complaints. If the patient is a first time patient, the doctor will require the patient’s medical history as well as that of his immediate family members. The doctor will be probing on the patient’s family health issues and his lifestyle that could possibly lead to his present health problem. At times the doctor will require a series of laboratory tests. After the interview and the tests, the doctor could then give specific drugs and therapies to cure the patient or may also give medications for the patient’s maintenance.

Similarly before an entrepreneur starts a business he will size up the market, interview some of his target market, check the competition, review his possible suppliers and so on. The entrepreneur will prepare a business plan and a marketing plan. He must follow certain steps before doing anything irrational that could lead to an unsuccessful business venture. Equally important to his planning stage is that an entrepreneur must be endowed with certain traits and characters that will enable him to persevere and have a vision for his business.

Entrepreneurship is collectively defined as a person’s vision and pursuit of that vision.  It means a passion or desire to achieve something; it means getting your butt out of that couch and stop day dreaming but work on your dream. Needless to say, each and every one of us can be entrepreneurs if we have that passion and good work habits. And to become a successful entrepreneur, one must exhibit the following traits:

Creativity – it is not just thinking outside the box but thinking way beyond the box. How can one develop creativity? You don’t always have to do the expensive market research; just spend time talking to consumers to know their needs and their frustrations on the products available in the market.  Having an inquisitive attitude will help you know in depth the needs of people and how you can meet those needs.

Optimism –sometimes your plan will not go in the way you envisioned it to be. Optimism is being able to see beyond the failure and frustration and learning from your mistakes. Optimism pushes you forward and closer to your goal.

Calculated Risk-taker - a successful entrepreneur takes risk but sets a limit to the risk he will be taking. He knows that if he doesn’t take the risk, he will not be able to know if such an endeavor will progress. He is not afraid of taking chances when opportunity strikes.

Energetic – always active, willing and able to do whatever it takes to get to the finish line. His energy extends beyond the Bundy clock as an entrepreneur’s work does not end as the day ends.

Committed – and entrepreneur is committed to his goal.  He is focused on what he wants to achieve and he does everything in his power to make his goal, his dream a reality. He is committed to his vision, his mission, to his employees and to his stakeholders.

 Strength of character –physically, mentally, socially and emotionally, an entrepreneur (leader) must possess the strength of character which means that he could handle tough situations during tough times.

Charismatic – intelligent and creative communication and interaction with people from all walks of life. A successful entrepreneur usually possess that certain magic glow in his eyes and can convey enchanting words in convincing power that no one can and dare to resist.

Innovative – a successful entrepreneur has his eyes on innovation. He looks for ways and means to be the first in everything, launching the first ever products or services. He stays above his game; he does not rest on his laurels but look for more ways to achieve more.