Lately it has become very fashionable to be an entrepreneur or businessman. First of all, this definition increases the status of a person in the eyes of all people around him. Having your own business is very prestigious, in addition, many people simply cannot work for hire, because they are annoyed by the complete lack of freedom and the necessary regular submission to management. Owning a business attracts people with the opportunity to receive almost unlimited income. In this case, everything depends on the actions and actions of the businessman himself. There are other ways to choose the entrepreneurial path, but these are considered the most common.
Thus, everyone who is not too lazy goes into business. But unfortunately, not every person manages to achieve great success. According to modern statistics, only one out of ten beginning businessmen can easily survive the first year of their new activity. About nine new businesses that were opened completely fail and eventually go away. But this does not mean that having survived the first year of their activity, they continue to work successfully. Most of them also close after a while.
But why does this happen? There are many different reasons for this. From misallocating the entire budget to completely breaking off relations with your partner; from the economic crisis in the country to the changed conditions of the modern market. But still, the most important reason is a person’s complete lack of a certain set of qualities that every aspiring entrepreneur should have. Having certain character traits and mentality in a businessman will help maintain his new business in almost any situation. Such entrepreneurs are not afraid of the collapse of the country's economy. Now let’s learn in more detail about all the important qualities that every entrepreneur should have.
Foresight
Try to learn to predict what may happen in the near future. You don't need to immediately go to clairvoyant courses. This trait implies the ability to see the overall picture of your business, as well as the ability to anticipate the actions of work colleagues, clients and partners. To achieve this, you will have to constantly analyze the processes that occur within your new business. This skill will help you in the future to avoid various troubles that inexperienced entrepreneurs usually get into.
Decisiveness – readiness and desire to act
It’s easy to talk about business while sitting at a table with friends, holding a glass of beer in one hand and a salted fish in the other. We are all businessmen in words: “Now, if I had money, then I could easily open a chain of grocery stores in the city, like Vasya Pupkin did!”
Listen to people, everyone is ready to open a business, but something is stopping everyone. One has no money, another is in poor health, the third is lazy, the fourth is not allowed by his wife, the fifth does not have time for “all this nonsense.”
But these are excuses. In fact, many are simply afraid! After all, now everything in their life is stable. Yes, their salary is small, but it is stable. Yes, the boss got them, but he provides them with daily work. What can you expect from your business? Where is the guarantee that everything will work out? After all, there is a high risk of being left with nothing!
It is the risk of being left with nothing that is the main deterrent for many people from taking decisive action.
And that's good, my friends. This is a kind of natural selection - when those who are not afraid to act decisively and achieve their goals go into business. Actually, that’s why I have no doubt that absolutely all entrepreneurs are determined people who are silent at the table and, smiling, listen to “loser speakers,” and the next day they simply move forward towards their intended goal.
Responsibility
This is perhaps the most important quality, without which it is simply impossible to build a successful business. The lack of desire to take on any responsibility is the main reason many people choose different hired jobs. Because in such a job you need to do what your superiors say, who bear the main responsibility. But this won’t work for real business. If you definitely want to create your own business, then you must be responsible for every step you take. In addition, you will have to be responsible not only for your actions, but also for your employees. For those people who prefer to shift their responsibility onto others, it is better not to engage in any business at all.
Collective interactions
Flexibility in taking initiative. When an enterprise reaches a medium and high level, the number of employees increases. If you motivate them well, constantly train them and strive to work with professionals, then get ready for them to bombard you with proposals for the development of the company. In addition, a competent employee often takes initiative.
The owners do not always like this, since proposals may be associated with additional costs, re-equipment of production, hiring new people, or the development of financially expensive areas.
However, initiative should not be suppressed under any circumstances. If it is there, it means you were not mistaken in choosing personnel. Therefore, you need to accustom yourself to diplomacy. You need to listen to what your colleagues offer you to the end. Create a “piggy bank” of initiatives. Set up an economic service so that they can calculate the economic efficiency of the most interesting developments.
Implement what is truly useful. At the same time, “trumpet at every corner” of your enterprise about who is the author of the innovation, encourage such people financially.
Coordination and administration. However, all your efforts will be in vain if the operational management of the company is not properly structured. And it includes such components as coordination of actions between employees and departments, a clear distribution of responsibilities and skillful administration at any management level. Competent organization of production is not only accumulated experience, but also knowledge, which cannot be done without.
It is no coincidence that many owners who have good professional training receive additional education in the field of management activities. It is believed that the owner of an enterprise should spend about 30% of personal annual income and up to 15% of enterprise income on self-education and employee training. Such managers, as a rule, demonstrate stable success in the development of the company.
Observation
This is another equally important quality that every entrepreneur should have. You must always be aware of all the events that are happening around you. You must be the first to find and notice all the most promising niches for creating your new business or in order to expand your old business. Try to analyze the behavior of your customers. This way you can create new services and products much faster and promote them to the market with minimal costs.
Originality
Every time you start a new business, think about how your services or products differ from your competitors. To be original, you don’t have to come up with something radically new. In some cases, it will be quite enough to take an existing product or service and make significant improvements. You can pay attention to the automotive industry, there are many companies here, and the competition is very strong. In this case you have to be very original. Some offer specially inflated prices, while others, on the contrary, make them low to attract a large number of customers, some take advantage of power and speed, while others take advantage of the environmental friendliness and economy of their cars. But they all have only one thing in common: the desire for originality, so that in the future they will please all their clients. So you should also do the same.
Focus on main goals
This quality is very important and its absence can lead to complete failure of your business. Most aspiring businessmen believe that when creating a business you need to work tirelessly. On the one hand, this is of course correct, but in this case it should also be added that you need to highlight what you should work on first of all. Because you can work around the clock without rest, but still not see a positive result. All insignificant and small things usually take up a lot of our time. Therefore, try to analyze all your work and change everything for the better.
Businessmen are born or become
Anyone can become a successful person, because many of the people who have reached the top in business started from scratch, and as a result achieved unprecedented success. Some people have certain leadership abilities, which include the ability to think creatively, find a way out of difficult situations and establish connections with other influential people. However, if you don’t have all this, don’t give up. Everyone has potential, your very thought, the idea of starting your own business already speaks of this. Set yourself a specific achievable goal and go towards it. Read more, communicate with successful people, follow their example, and you will definitely achieve success.
Determination
This is the main quality that every aspiring entrepreneur should have, because without it, the rest can lose their relevance. This character trait must first be developed in oneself. All famous entrepreneurs and businessmen were fans of their business. They did business, stumbled, fell, solved their problems, then got up and moved on. They not only overcame all obstacles, but also did not stray from their path. Thus, they managed to achieve incredible heights in business.
Business question No. 14. What qualities should an entrepreneur have?
February 20, 2013 Oleg Markaryan Home page » Business question
Today it is fashionable to be a businessman or entrepreneur. Firstly, such a definition immediately increases your status in the eyes of others. Being the owner of your own business is prestigious. Secondly, many simply cannot work for hire (they are irritated by the lack of freedom of action, the need to obey superiors, etc.). And thirdly, owning your own business is attractive due to the opportunity to receive almost unlimited income. Everything depends only on the actions of the businessman himself. Of course, there are other reasons why a person chooses to become an entrepreneur, but these are the most common.
So the situation turns out that everyone who is not too lazy goes into business. But not everyone succeeds. Well-known statistics indicate that only one out of ten aspiring entrepreneurs is able to survive the first year of their activity. Nine out of ten businesses (90%) fail, go out of business, or disappear within the first twelve months. But this does not mean that those who survived the first year continue to work successfully further. Many of them also close after a while.
Why does this happen? There can be many reasons. From the banal incorrect allocation of the budget (many at the beginning of their activities do not see the serious pitfalls that have a detrimental effect on the business in the future) to the breakdown of relations with a partner. From changed market conditions to economic crises in the country. But the main reason for all the troubles is the lack of a certain set of qualities that any successful entrepreneur simply must have. Having a certain mindset and character traits will help you maintain your business in almost any situation. Even the collapse of the country's economy does not matter to such entrepreneurs. Since they are so important for business success, let's talk about these qualities in more detail.
What qualities should an entrepreneur have?
Before we move on to discuss these qualities, the following needs to be said. If, as you read, you discover that you do not have some of them, do not be upset and run to study sites with vacancies. After all, almost any of the listed characteristics can be developed in yourself. Yes, it may take a lot of time, but the result will exceed your expectations. So, let's begin.
Responsibility . This is one of those qualities without which it is simply impossible to build a successful, profitable business. In many ways, it is the lack of desire to take responsibility that is a common reason for people choosing paid work. After all, there you only need to do what the leaders say, who bear the main responsibility. This is not possible in business. If you decide to start your own business, be prepared to be responsible for every step you take. And not only for their own, but also for the actions of their employees. People who like to shift responsibility to others should not be in business. A true entrepreneur must keep everything in his hands and not be afraid of it.
Foresight . You must learn to predict what will happen in the future. This does not mean at all that it’s time for you to take clairvoyant courses (if any). This trait implies your ability to see the picture of your business as a whole, and be able to anticipate the actions of employees, partners and even clients. To do this, you will have to carefully study and analyze all the processes occurring within your business. The ability to see several steps ahead will allow you to avoid many of the troubles that short-sighted entrepreneurs get into.
Observation . Another important quality that any entrepreneur should have. It means that you should always be on the pulse of events happening around you. You should be the first to notice promising niches for creating a new or expanding an old business. You should always analyze the behavior of your customers. This will help you create new relevant products or services faster than others and promote them to the market with minimal costs. After all, selling something that customers are waiting for is much easier than selling some new product that no one needs.
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Determination . This is the very character trait that distinguishes a real entrepreneur from an ordinary thinker who only fantasizes, dreams, but does not take action. A businessman must be able to quickly make the right decisions. This is especially important in markets where everything changes at lightning speed. To keep up with competitors, you have to think and make decisions quickly. And there is no way to do this without firm determination.
Caution . Although an entrepreneur must be firm and decisive, he must always think about every step he takes and be extremely careful. In business you can't trust anyone completely. After all, just one wrong step, a rash decision, a signed contract can cause ruin and the collapse of your business. Therefore, be careful, but do not delay in thinking about it.
Originality . When starting a new business, you should always keep in mind the answer to the question - how your products or services differ from competitors. If they are no worse, but no better than others, it will be very difficult to break through. To be original, you don't have to come up with something revolutionary new. Sometimes, it is enough to take an existing service or product and make serious improvements. Look at the automotive industry. There are many companies, the competition is huge. You have to be original. Some offer consumers low prices, some, on the contrary, prohibitively high prices, some take advantage of speed and power, and others benefit from the efficiency and environmental friendliness of their cars. But each of them strives for originality in order to please its consumer. You should do the same.
Sociability . Everything is clear here and without words. Business connections decide, if not everything, then a lot. Therefore, you must be a pleasant, outgoing person who people simply enjoy talking to and spending time with. You must constantly look for new contacts and establish useful connections. Who knows when this or that acquaintance will come in handy. After all, business is often unpredictable.
Focus on the main thing . This is a very important quality, the absence of which can be a direct road to failure. Many people think that in business the main thing is to work tirelessly. This is, of course, correct. But it is also important to say that you need to be able to highlight what you should work on first. After all, you can “plow” around the clock, but still not see the result. Small, insignificant, unimportant things often take up all our time. Analyze your work. If the situation described is about you, you need to change something urgently.
Flexibility . If something is going wrong in your business, it may be worth looking at the situation from a different angle and slightly changing the trajectory of your path. If consumers clearly speak about some shortcoming of your product, you must adapt to their opinion and quickly offer them an improved product. That is, you and your business must be able to change, flex and adapt to rapidly changing market conditions.
Innovation . Any successful or aspiring entrepreneur must be an innovator. You must not only quickly adapt to changes in the market, but also introduce new technologies into your activities. For example, even today, not all companies and private entrepreneurs use the capabilities of the Internet. And in vain. After all, this is one of the best channels for attracting new customers, conducting marketing campaigns and even making sales. This applies not only to information channels. If you are in the manufacturing business, you should always try to have only the best equipment in your arsenal. And so on.
Determination .
Undoubtedly, this is the quality that absolutely any entrepreneur should have. Without it, everything else loses its relevance. This is the character trait that you need to develop in yourself first. All great entrepreneurs and businessmen were true fans of their business. They walked, stumbled, fell, got up and moved on. They simply overcame obstacles, but never strayed from their intended path. And it is precisely such purposeful people who have achieved, are achieving and will achieve the most incredible heights in the world of business. So why not follow their path? We wish you success in life and business!
Innovation
Every successful entrepreneur must be an innovator in some way. You must learn to quickly adapt to all changes in the modern market, and also gradually introduce new technologies into your activities. For example, in our time, not all private entrepreneurs and large companies use all the possibilities of the Internet. And it’s completely in vain, since this is the best channel for conducting marketing campaigns, attracting new customers, and making sales. If your company is engaged in manufacturing, then you should have only the newest and best equipment in your arsenal.
