DEC 24 2018

5 Basic Qualities EVERY ENTREPRENEUR MUST HAVE

Manikankana Das

TAGS : Entrepreneurship, Entrepreneur, Business, businessman

5 Basic Qualities EVERY ENTREPRENEUR MUST HAVE

“If you’re trying to create a company, it’s like baking a cake. You have to have all the ingredients in the right proportion.”

—Elon Musk

 

Entrepreneurs are people who are not afraid to accept a risk, a quality that most non-entrepreneurs don't have. 

 

Innovation is another trait of entrepreneurs must have because if you don't have the passion to innovate something new, soon your business will become stagnant in terms of growth and progress. Entrepreneurs see problems as opportunities that can be exploited for cash. Eg: a new University in a deserted area will mean a housing crisis, however, an entrepreneur will see. It as a chance to get a loan and build 10 story buildings to provide housing for off-campus students.

 

Entrepreneurs have the drive. They accept those long hours, no weekends, no holidays kind of lifestyle but still live life with the passion to achieve something great or to build a product that will serve generations. In order to achieve the dream, every entrepreneur must have some basic qualities that might look basic at a glance but will make a great difference in their approach to work. Here are the 5 basic qualities that every good entrepreneur will have it in himself/herself. 

 

 

 

1. Passion: The first and foremost thing an entrepreneur needs to keep in mind is that if you have the passion for your startup, it will push you enough to have innovative ideas to make your startup successful. Remember, when you are trying to establish a business, the business becomes your baby and you need to be passionate enough to stick with it even during its lowest points.

2. Self-Discipline: When you are not working for someone, there is no one telling you what to do. You do not have the obligation to go to the office and work for 8 hours every day. No one is stopping you from lazing around all day and leaving everything for the last moment. But without self-discipline and motivation, one cannot build a successful business. To be a successful entrepreneur one needs to set ones’ own working hours and stick with them. Remember, discipline is the bridge between goals and accomplishment.

3. Humility: A learned man once said, “People are respected only when they can respect others”. To be a successful entrepreneur you should always be willing to learn from others and from your own mistakes. You must know that knowledge is a sea and what you know is just a pebble lying on the beach and even when you are successful, that success does not warrant your superiority. Humility helps entrepreneurs to have an open mind keeping their pride aside.

4. Perseverance: Entrepreneurs often face many obstacles. You need to know, you have ideas, but turning them into a business won’t happen overnight. You have to get habituated to being turned down. But no matter how many times you fall down you need to have the courage to get up and start again, push through. Remember, a castle isn’t built in a day. Like everything good, your startup too will take time.

5. Adaptability: The economy and the business world is constantly changing. An entrepreneur needs to be prepared for changes. You have to be creative in solving the problems that come your way to managing in a limited resource. You will need to take risks and it should not scare you. Hence, if you are afraid to take the leap then you cannot get anywhere. So, you should not let uncertainty stop you from achieving greatness.

 

Entrepreneurship is full of challenges and adversities and the road to success is often rocky and difficult. The journey to build a business from the ground is long, lonely, full of hurdles. However, if you are passionate , creative enough and  believe in your dreams, things will fall in place with time. The most important thing in entrepreneurship is the right approach and attitude through which you go ahead in your business journey. 

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