Pre-Requisites of an Entrepreneur

The call to setting up a business and being your own boss is becoming very common these days. While many think that this is the best and fastest way to crafting out one’s career path, it is not easy for such a dream to come to pass.

One may think that setting up a business is as simple as just filling in forms, hiring people and that’s it. Truth is, that isn’t the case. For one to be an entrepreneur, he or she must be PASSIONATE.

Passion: Passion! Zeal! Enthusiasm! Drive! These are the hallmarks of an entrepreneur. Having passion is more than merely paying lip service; it requires action to back it up. An entrepreneur’s  passion is exhibited when he makes every possible effort to ensure that he succeeds.

Adventurous: Be willing to step out of his comfort zone to venture into something new.

Sedulous: Perhaps you are scratching your head and wondering what this word means? It simply means to be diligent. To see success in his business, an entrepreneur can’t afford to be slack. He has to take an active role to see that his business runs smoothly.

Self-confident: An entrepreneur must be confident in himself and his products. Would you wish to work for or work with someone who is not confident in himself or his products?

Innovative: An entrepreneur has to have new ideas or solutions to current problems. He is also able to ‘beautify’ old ideas and make it attractive.

Optimistic: Mind-sets and attitudes are factors that determine one’s success. An entrepreneur cannot have a mind-set that he is going to fail. He has to believe that he will succeed, only then will he.

Needs to have high energy: The beginning phase of any business requires lots of work to be done. An entrepreneur is going to have to work much longer hours than any ordinary employee.

Ability to handle rejections: Facing rejections as an entrepreneur is common. However, he must not be discouraged by rejections but must be able to persevere so as to taste the fruits of his success one day.

Tenacity to ‘bounce’ back: This can be summed up with the word ‘Resilience’. Doing business surely involves lots of risks. With risks comes the chance of failure. However, entrepreneurs have to be unbeaten by failures, have the tenacity to ‘bounce’ back and start all over again.

Effective communication skills: An entrepreneur must be able to communicate well. This encompasses written, spoken and non-verbal forms of communication and also having the ability to listen to what others have to say. An entrepreneur has to deal with people all the time and these skills play an important role.

Perhaps you think you are lacking in most of these qualities. However, this does not disqualify you from being an entrepreneur. I’m sure that these qualities can be nurtured in every single one of us!


Read also: What Leads to Failure of Startup?


Article contributed by Startup Jobs Asia‘s Team.

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