I have always believed that anyone can be an entrepreneur! But entrepreneurship is not for everyone!
Let me elaborate: Anyone from any background or skill level can be an entrepreneur. A vada pav-wala can have an astute business sense developed through experience. A homemaker can also run a successful business and tackle the ups and downs of her venture. The MBA textbooks and theories hold little consequence in this regard.
Having said this, not everyone is cut out to be an entrepreneur.
So, what traits make an entrepreneur different from the rest?
In this post, I want to impress upon my readers specific values that one can imbibe to become a great entrepreneur. I think the following maxims represent the entrepreneurial spirit…
A failure is nothing but the postponed success
What every entrepreneur needs to understand is that failure is part of the journey, not an end. Entrepreneurs with a strong commitment and dogged determination to succeed in their business should not worry about failures. If you see successful businessmen and their career paths, you will see that they carry the attitude – “I did not fail; my project failed.” Essentially, they are serial entrepreneurs, moving from one business project to the next. You can always rework your business/project idea and identify a different business opportunity. Many entrepreneurs have learnt from their failures, redefined their projects or business opportunities and have moved on.
Only excellent people can create an excellent business
As an entrepreneur, you have to invest time in people. You have to develop a work culture that fosters collaboration and innovation. The first and foremost suggestion I would give you here is that you must be choosy about selecting people who will join you in your start-up journey. These are the people who are going to work and grow with you. You must develop an effective team of qualified and competent persons with the necessary skill sets, exposure, and experience. Later on, you should not leave any stone unturned to build an efficient and effective team of committed, dedicated, and self-propelled employees and provide them with quality resources so that they can perform at their very best. As you coach, counsel, and encourage them, you must also hold review sessions from time to time. This will give you the opportunity to pay special heed to their training and re-training needs.
Being ambitious alone is not enough
You are an ambitious entrepreneur. You have tremendous enthusiasm and zeal to make a success of your entrepreneurial venture. But then these attributes alone may not ensure your business success. You have to put in the work and apply strategic thinking at various points in the journey. Apart from your bubbling enthusiasm, energy, and fervour, you will be required to set a business plan and develop discipline in order to stay on track, so you can eventually make a profit with your business.
I hope this post gave upcoming businesspersons some food for thought. Let me know in the comments down below: What maxim/ motto strengthens your entrepreneurial spirit?
This one is excellent Sirji
Very true and realistic