Friday, 26 April 2013

Attributes of Successful Entrepreneurs

So we got an outline in class of the top 20 attributes of successful entrepreneurs. The list goes as follows:
1. resourceful, 2. purposeful, 3. focused, 4. risk-taking, 5. problem-solving, 6. salesmanship oriented, 7. visionary, 8. optimistic, 9. leadership-oriented, 10. ambitious, 11. innovative, 12. integrity-based, 13. adaptable, 14. communicative, 15. self motivated, 16. strategic, 17. team-oriented, 18. determined, 19. curious and 20. balanced.

I agree with most of the above being necessary attributes but would insist on re-ordering them if it is that the list is assembled in terms of importance. My number one would have to be visionary.

If I were to ask myself what makes the common man different from the entrepreneur it would have to be that one man had incite, an imagined concept that he ran with and the other didn't join the race. Ask yourself what good is a blind man in a fight? And what is the world of business if not a battlefield?

On to my number two, ambitious. Ambition can also be a separating factor between ordinary men and great men. With ambition comes determination, comes a desired purpose. When you give yourself a goal you have something to work towards. If you're ambitious the goal can be far out of your reach but you'd overextend yourself and plot and plan and work hard until you could achieve it. That mentality is only useful in business. Being weak and flaky can achieve nothing in comparison to being passionate and fuelled by ambition.

Number three would be innovative/adaptable. I join the two because I strongly believe they cannot be apart in business, specifically for young businesses. Innovation can drive a product far beyond ordinary standards and make it more attractive to its target audience. In the same breath business innovation should be led by a certain amount of adaptability. Your innovative tactics cannot be the same as your competitors, they need to be bigger or quite simply better. Globalization leads to a great mosh pit of ideas converging on the internet, your tactics may be ones many have seen before and have at that point been overplayed. A true test of a stable business or a strong business mind is the ability to adapt to suit your market/target audience.

Four pushes focused back just a notch down the line. Focus is a critical element of any task that any person expects to successfully begin or complete. A paper cannot be written if you cannot align your thoughts. A talk cannot happen if you do not know what the conversation should achieve.

I didn't see any reason to separate the rest of the numbered attributes because I believe they closely link themselves with the others. Vision is birthed from a certain level of curiosity. A person can be pushed to become resourceful if they have enough ambition and ambition drives determination. In order to be communicative and team-oriented you would need focus. A common goal that all team members to latch on to, that all persons of the team can be held accountable to. And so on.

Success hinges on willingness to achieve great things. To all entrepreneurs out there or persons still at the drawing board take a look at these qualities and strive for them if you find yourself lacking.

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