Entrepreneurs are the ones who work on their passion by converting their ideas into business. There is not any hard and fast rules regarding the traits and attributes that entrepreneurs should possess. As suggested by Spinelli and Adams, the seven dominant themes of an entrepreneur are commitment and dedication, courage, leadership, opportunity obsession, tolerance of risk, ambiguity and uncertainty, creativity, self-reliance and adaptability and motivation to excel. Thus, the important skills, values, talents, abilities and mind-sets one needs to cultivate as an entrepreneur revolve round these themes.
The major skills of an entrepreneur comprises of resiliency, focus, invest for long term, find and manage people, sell, learn, self-reflection and self-reliance (Forbes, 2013). An entrepreneur should not be distracted by undesirable and unfavorable circumstances and give continuity to venture despite the odds being patient. In addition, it is equally important to have the skill of selling ideas, products and services and leverage the available human resources for attainment of end results. Reflecting upon one’s performance to identify the strengths and weakness, areas of improvement, attitude of learning continuously and updating oneself to adjust with the changes in business environment will help an entrepreneur succeed.
Values determine the code of conduct. The most important value of an entrepreneur is innovation as entrepreneurship is all about finding innovative solutions to address the existing or new problems identified by customers. Similarly, personal integrity is also important. Being honest, trustful, sincere, fair and ethical is important to continue working on the passion. Since no heights can be achieved alone, the entrepreneur should also incorporate value of coordination, communication and team work (Bozward, 2014).
In order to start and grow a venture, an entrepreneur needs to have some innate as well as some learned and acquired talents. As per Badal (2014), ten talents of successful entrepreneurs are business focus, confidence, creative thinking, delegation, determination, independence, knowledge seeking capability, promotion, relationship building and risk taking. These factors should not be ignored if we want to be successful as an entrepreneur. However, it is important to acknowledge the inherent talents and work on building the ones that are not innate.
The distinct abilities that contribute to success of an entrepreneur are taking calculated amount of risks, learning from failures, seeing the bigger picture, delegating wisely and communicating effectively (Branson, 2017). Being an entrepreneur is all about taking risks and there is no assurance that one will be successful in the first attempt. Similarly, attaining the larger picture is not possible by working alone. Selecting the right team members, delegating the tasks and responsibilities effectively among them and communicating clearly about the expectations and desired outcome helps in making an entrepreneur successful.
Talking about the mindset, the entrepreneurs should believe that they were meant for the entrepreneurial journey they have started and show cent percent commitment towards what they are working for. Since perfection cannot be gained at once, the entrepreneurs should have the mindset of taking failure as a part of the journey and improving the business processes and procedures by learning from those failures. The another thing entrepreneur should be clear about is s/he alone cannot do it so the team work is vital (Flynn, 2018).
Branson, R. (2017, January 30). 5 Skills and Abilities that Successful Entrepreneurs Share. Retrieved from Virgin: virgin.com/richard-branson/5-skill...
Flynn, P. (2018, February 12). Five Truths About the Mindset of a Successful Entrepreneur. Retrieved from Smart Passive Income: smartpassiveincome.com/mindset-of-...
Entrepreneurs are the ones who work on their passion by converting their ideas into business. There is not any hard and fast rules regarding the traits and attributes that entrepreneurs should possess. As suggested by Spinelli and Adams, the seven dominant themes of an entrepreneur are commitment and dedication, courage, leadership, opportunity obsession, tolerance of risk, ambiguity and uncertainty, creativity, self-reliance and adaptability and motivation to excel. Thus, the important skills, values, talents, abilities and mind-sets one needs to cultivate as an entrepreneur revolve round these themes.
The major skills of an entrepreneur comprises of resiliency, focus, invest for long term, find and manage people, sell, learn, self-reflection and self-reliance (Forbes, 2013). An entrepreneur should not be distracted by undesirable and unfavorable circumstances and give continuity to venture despite the odds being patient. In addition, it is equally important to have the skill of selling ideas, products and services and leverage the available human resources for attainment of end results. Reflecting upon one’s performance to identify the strengths and weakness, areas of improvement, attitude of learning continuously and updating oneself to adjust with the changes in business environment will help an entrepreneur succeed.
Values determine the code of conduct. The most important value of an entrepreneur is innovation as entrepreneurship is all about finding innovative solutions to address the existing or new problems identified by customers. Similarly, personal integrity is also important. Being honest, trustful, sincere, fair and ethical is important to continue working on the passion. Since no heights can be achieved alone, the entrepreneur should also incorporate value of coordination, communication and team work (Bozward, 2014).
In order to start and grow a venture, an entrepreneur needs to have some innate as well as some learned and acquired talents. As per Badal (2014), ten talents of successful entrepreneurs are business focus, confidence, creative thinking, delegation, determination, independence, knowledge seeking capability, promotion, relationship building and risk taking. These factors should not be ignored if we want to be successful as an entrepreneur. However, it is important to acknowledge the inherent talents and work on building the ones that are not innate.
The distinct abilities that contribute to success of an entrepreneur are taking calculated amount of risks, learning from failures, seeing the bigger picture, delegating wisely and communicating effectively (Branson, 2017). Being an entrepreneur is all about taking risks and there is no assurance that one will be successful in the first attempt. Similarly, attaining the larger picture is not possible by working alone. Selecting the right team members, delegating the tasks and responsibilities effectively among them and communicating clearly about the expectations and desired outcome helps in making an entrepreneur successful.
Talking about the mindset, the entrepreneurs should believe that they were meant for the entrepreneurial journey they have started and show cent percent commitment towards what they are working for. Since perfection cannot be gained at once, the entrepreneurs should have the mindset of taking failure as a part of the journey and improving the business processes and procedures by learning from those failures. The another thing entrepreneur should be clear about is s/he alone cannot do it so the team work is vital (Flynn, 2018).
References
Badal, S. B. (2014). 10 Talents That Drive Entrepreneurial Success. Gallup Business Journal . Retrieved from education.ne.gov/wp-content/upload...
Bozward, D. (2014, May 16). 6 Core Values of an Entrepreneur. Retrieved from Educating Entrepreneurs: david.bozward.com/2014/05/6-core-v...
Branson, R. (2017, January 30). 5 Skills and Abilities that Successful Entrepreneurs Share. Retrieved from Virgin: virgin.com/richard-branson/5-skill...
Flynn, P. (2018, February 12). Five Truths About the Mindset of a Successful Entrepreneur. Retrieved from Smart Passive Income: smartpassiveincome.com/mindset-of-...
Forbes. (2013, November 26). The Top Skills Every Entrepreneur Needs. Retrieved from forbes.com/sites/aileron/2013/11/2...
Spinelli, S., & Adams, R. J. (n.d.). New Venture Creation: Entrepreneurship for the 21st Century (Ninth ed.). Irwin: McGraw Hill Education.