Attributes Needed to be a Successful Entrepreneur - Project ENE

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Attributes Needed to be a Successful Entrepreneur

It is a fact that over half of all new start-up businesses in America fail within 5 years. It is difficult to start a new business for several reasons – cash flow, competition, down turns in the economy, government regulations, and advances in technology. These are all valid reasons for a new business to fail, but perhaps more important than that is the fact that the director or directors of a new business did not have what it took to be a successful entrepreneur

Being a successful entrepreneur is as much a state of mind as it is being a genius that is able to invent a new type of cell phone or write a program like a sophisticated BBC VPN like this, that will prove indispensable to all home computer users.

Drive

Entrepreneurs are driven people. They work harder than all the people around them. There is normally no such thing as a public holiday or a Sunday off for an entrepreneur fighting to establish his or her business. They give their all. They are absorbed by the challenge they have given themselves. They understand every aspect of their business and they force themselves to consider all courses of action just in case they might have missed something that will promote success. It is the drive of an entrepreneur that inspires those around them to believe in the business, and to try their best.

The Bigger Picture

What singles entrepreneurs out is their grasp of the bigger picture. They can take in the essentials of a market place and of a product and service and can see what gives it value. This is not something everyone can do. An entrepreneur is attuned to the market and to consumer interests. They can see beyond the restrictions of what is available at the present and can see how new value can be brought to an old idea. They are visionaries in this sense. An entrepreneur will look at a consumer item and think how it can be improved, and how these improvements will be welcomed by the buying public. They understand instinctively that no business can flourish without a unique selling point, and that this point should be instantly understood by the consumer otherwise it is no such thing.

Responsibility

Most people are employees, and happily so because they are frightened to some degree of responsibility. While they might envy people like Bill Gates, they know in their heart of hearts that they don’t have what it takes. They want an easy life where they do their job and take home a pay check every month.

An entrepreneur wants no such thing. He or she is willing to take the responsibility for a company. They are willing to pay the cost of failure. They willingly shoulder the blame. This makes entrepreneurs leaders. They don’t want to hide behind bosses. They don’t want others making their decisions for them. Rather they are determined to sink or swim based on their own merits as a business person.

Pride of Performance

An entrepreneur is like a great artist in that he or she takes a great pride in their achievements. They want perfection; and nothing less will do. Most workers can accept a mediocre performance and say to themselves ‘it’s only work’. No such thing for an entrepreneur. For them every product must be perfect, every service executed exactly as it should be. And only when they have achieved this do they feel pride. Entrepreneurs view their business like a child prodigy. Only when the child lives up to its potential are they a happy parent.

So unless you think you have these attributes in spades it is perhaps best that you look for regular employment. But, if you do feel you have what it takes to succeed in your own business then go for it!

John Summers
Owner of a Paid VPN Service, Chicago Technology Park


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