12 Signs That You Have An Entrepreneurial Spirit
- How Many Signs Of Having An Entrepreneurial Spirit Do You Have???
- Ever Thought About Starting A Business? These Signs Show You Have Entrepreneurial Spirit
What Does It Take To Become An Entrepreneur?
When we think of entrepreneurs we always see the end result.
The house, the car and the freedom from the 9 to 5 grind.
But this is not typical of all entrepreneurs and those who start out in business. You need certain characteristics to make a success of it.
You need an entrepreneurial spirit where you'll have to work hard to make a success of your business rather than waiting for success to come to you.
Various characteristics are key for a successful entrepreneur. Some of them you are born with, while you can learn about the others and adopt them.
We’ve put down some of the characteristics you need to be a successful entrepreneur.
When starting out in any industry/field there are many new things to learn.
You will even find that as soon as you think you know everything about the industry you will discover more or it will change.
You are always learning.
Technology, new solutions to certain problems and new opportunities are among the key things you need to learn more about while starting and running the venture.
Entrepreneurship is an ever-changing endeavour.
It is about finding solutions for problems that are in the world around.
And the world is always changing.
New technology, problems and opportunities present themselves on a daily basis. As an entrepreneur you have to be nimble enough to react to these latest developments and make the most of them.
Those who don't will always be left behind.
Make a decision.
It sounds simple but for a lot of people making a decision is one of the hardest things to do.
And it's not the choices at hand that are the problem - it never is. It's the regret and opportunity cost of not taking the other option.
In entrepreneurship, there are thousands of scenarios where you will have to make a decision.
Some of them will be easy and some will be difficult. After making these decisions, however tough they may look, you need to stand by them.
As a successful entrepreneur, you need to be very decisive in making all the decisions about your business. From funding to resource allocation, it is obvious that you will need to make some challenging decisions.
As someone with an entrepreneurial spirit it is natural that you want to do everything yourself.
After all it's your vision and you know exactly what you want.
At the start of your business journey this may be the only viable option but you and your company will grow a lot quicker with the help of others.
As a leader, you need to be aware of your weaknesses and strengths. Rather than having the weaknesses dragging the success of your business, it’ll be important to have teamwork.
As a entrepreneur who has decided to build a business, you must be fairly comfortable with the idea of risk.
But this is always a balancing act between risk and recklessness.
Going into something without doing any knowledge of it or without doing the research is reckless and shows a cavalier attitude.
Mitigating the risk of your business endeavour is essential if you going to make it work.
This means learning about the industry you are going into from top to bottom, who are the big players why are they successful.
Persistence is what separates the succesful entrepreneurs from those you fail.
It doesn't matter what your education was, your upbringing or how intelligent you think you are...if you give up then you are out of the game.
Persistence is why we see so many succesful entrepreneurs who were never good at school or not even considered to be intelligent by the academics around them.
They were just the ones that didn't give up.
This is what Apple Founder Steve Jobs believed as he always advised doing 'what you love', otherwise there will be a tendency to give up.
When talking about innovation, I'm not suggesting that you have to invent the microchip in order to be successful.
If you can that's great and your chances of success have improved dramatically.
However, innovation means to come up with new ideas and new methods in your respected industry.
Innovation is what gives you an 'edge' over the competition and can be the sole reason for your company's success.
Whether it's improved delivery times or a faster, more user friendly website - innovation comes in all shapes and sizes and can deliver the success you are looking for.
This is a quote from the Founder of the biggest company in the world, Steve Jobs.
If you don't love it you will give up.
Everyone says they work hard.
But hard work is very subjective.
Someone with an entrepreneurial spirit isn't going to turn up to work at 9am and leave at 5pm. If the business requires you to be there all day and all night you need to do it.
You must be willing to do whatever it takes to make a success of your venture and not treat it like an ordinary job which you can forget about as soon as you leave the office.
This is your project, something that has the potential to change your life.
Don't be afraid to go above and beyond in order to achieve your dreams.
When you start a business you should have some idea of what will works and what doesn't.
If you don't - **** BIG TIP **** - look at your competition and see how their business model works.
But understanding how others are making money only goes so far.
You need to know what opportunities that they are missing out on. What did they miss?
How can you tell what existing companies have missed?
This is where structured experimentation comes in.
"If you don't have that vision for the end goal, you have no clue where you're going, and you're going to work very hard to go nowhere." J.J Watt
A common misconception about entrepreneurship is that it is only about creating a business that provides you with an income to do the things you want.
Whilst this is true to some extent those with an entrepreneurial spirit want to build something significant.
When the business is making money and you are hiring people to grow the company further it is very rare for an entrepreneur to keep the company where it is.
Those who succeed in business want to 'push the envelope' and see how far their idea can go.
12Comfortability With Failure
"I've missed more than 9,000 shots in my career. I've list almost 300 games. 26 times I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed." -- Michael Jordan
Failure is a part of life.
You are never going to meet someone who has never failed in their life.
But you will find lots of people who let a single failure define them.
Failure is nothing to be ashamed of but not coming back from failure and facing it square on is for losers.
Final Thoughts On Having Entrepreneurial Spirit
Everyone would like to be an entrepreneur but so many have tried and failed because they don't have the required characteristics.
Entrepreneurship is a field that requires consistency, hard work, and patience to be a successful and even then that might not be enough.
Perseverance is the attribute that all succesful entrepreneurs have in abundance and if that is something you think you have maybe it is something for you.