11 Entrepreneurial Qualities For Success In Business

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11 Entrepreneurial qualities for success In Business 

As part of your desire to be successful in your business, there are 10 entrepreneurial qualities for success you need in your business:

  • Clarity
  • Vision
  • Mission
  • Purpose
  • Goals setting
  • Constraints management
  • Creativity
  • Concentration
  • Courage
  • Continuous action

Clarity of purpose 

You must be absolutely clear about:

  • Who you are
  • What you can do,
  • Things you cannot do
  • What you want to achieve
  • How you hope to achieve it.

To enable you to do this, you need to evaluate your core values.

For example, you need to be clear in your what you believe in and stand for?

You can stand for honesty and integrity.

Additionally, you need to define the most important things you want to achieve through your business.

Furthermore, you need to figure out what sacrifices you will be ready and able to make to ensure that you succeed in your business.

Entrepreneurial Qualities: Vision

You need to have a clear vision for your business.

Your plans should be based on your vision for the future of your business.

For example, you can figure out how you want your business to be in the next 5-10 years.

Your vision can cover such areas as:

  • Yourself
  • Finances
  • Marketing
  • Administration
  • Management

Furthermore, you can have a vision of becoming a leader in your industry.

Above all, remember that if you know where you are going it will be easy for you to work out when and how you can get there.

Entrepreneurial Qualities: Mission

Your mission statement must state in clear terms the:

  • Primary purpose of your business
  • Things you need to do
  • How to do them
  • Ways to achieve your goals.
  • What is it that you want to accomplish for your customers?

In addition, you need to decide on what your business wants to do to improve the lives of the people you intend to serve.

Most importantly, you also need a clear mission statement that can inspire and motivate you and others to do the hard work necessary to achieve entrepreneurial success.

Purpose

As an entrepreneur, you must have  a purpose for your business.

It is important for you to ask yourself why you decided to go into business.

You must clearly identify that thing that can make you to get up as early as 5.30 am every morning?

Furthermore, you need to be clear on what level of success you want.

Entrepreneurial Qualities: Goals

Another entrepreneurial quality you need is the ability  to set goals for your business.

Your goals must be set within the context of your vision and mission statements.

Moreover, you need to be able to set attainable goals, not goals that are difficult to attain.

For example, your goals can cover areas such as:

  • Finances
  • Marketing
  • Administration
  • Management
  • Customer service

You need to set attainable goals within the context of the vision and mission statements of your business.

The clearer your  answers to each of these questions – values, vision, mission, purpose and goals – are the  greater will be your chances of achieving entrepreneurial success.

Competence

Still another entrepreneur quality you need for success is competence.

To enable you succeed in your business, you need to place high emphasis on competence.

Competence simply means ability to carry out a task effectively and efficiency.

Additionally, it is competence that determines whether your business will be success or not.

In other words, to be truly successful and happy, you must be very good at whatever you do.

More importantly, you can decide to be among the top 10 performers in your industry.

Most importantly, you must be able to fully devote all your energies and time to providing quality products and services for your customers.

In business, it is competence and character that drive business growth.

Entrepreneurial Qualities: Constraints

In business constraints are difficulties that you cannot run away from.

They are difficulties that will always want to hold you back from succeeding.

Constraints can be in form of time, money, marketing, materials or even stress levels.

They can also be in form of making decisions in the face of uncertainty.

Ability to prevent, reduce, manage your business constraints is an important factor that can speed up the rate at which you can achieve your entrepreneurial goals.

Creativity

Another entrepreneurial quality you need is the ability to identify faster, cheaper and easier ways to deliver your products and services to your customers.

The essence of creativity is to be able to do extra ordinary things to achieve extra ordinary results.

Remember that leadership is all about:

  • Leading the way,
  • Generating new ideas
  • Solving problems
  • And carrying people along.

Successful entrepreneurs focus on what is to be done rather than what has happened or who is to blame.

Concentration

Your ability to concentrate on one thing, the most important thing, and stay at it until it is complete, is an essential entrepreneurial skill.

In other words, no success is possible without the ability to practice sustained concentration on a single goal or task at a time.

Additionally, the simplest way to learn to concentrate is to make a list for each day before you begin.

Again, you can rank your tasks according to the importance you attach to the them.

Furthermore, when you have determined your most important task, you should begin immediately to work on that task.

Moreover, you need to discipline yourself to continue working until that top task is completed.

Most importantly, when you make a habit of doing this, starting and completing your most important task each day, you will double and triple your productivity and put yourself solidly on the way to wealth.

Entrepreneurial Qualities: Courage

As an entrepreneur, you need courage to set up, manage and grow a business.

Beyond that, it takes tremendous courage to take some entrepreneurial risks to be successful in business.

First of all, you need the courage to:

  • Move out of your comfort zone
  • In the direction of your goals
  • Even in the face of obvious problems, difficulties and temporary failures along the way.

Secondly, you need courage to:

  • Endure,
  • Hang in there,
  • Persist in the face of all challenges until you finally win through.

Therefore, when you develop these qualities, the ability to step out in faith and resolute to succeed in the face of all difficulties, your success is guaranteed.

Entrepreneurial qualities: Continuous action

Perhaps the most outwardly identifiable

quality of a successful entrepreneur is that he or she is in continuous motion.

Beyond that, the entrepreneur is always trying new things and if they do not work, keep on trying something else he succeeds.

Consequently, successful entrepreneurs  continually react and respond constructively to changes.

They keep trying and exploring new ways of things.

When they fail, they pick up their pieces and keep moving after every defeat, until they

eventually succeed.

Furthermore, top people, especially entrepreneurs seem to have three qualities.

Firstly, they learn more things. Secondly, they try more things. Thirdly, they persist longer than anyone else.

The good news is that because you learn more, try more things and persist longer.

Consequently they increase their chances of success.

Remember that winners do not quit and quitters do not win.

Related: 13 Most Important Entrepreneurial Skills You Need To Succeed In Business

 

By Samuel Ijenhi

B. Sc. Accounting [University of Benin]

Benin City, Nigeria

Founder: Ijenhi Business Solutions

info@samuelijenhi.com.ng

About Samuel Ijenhi

A graduate in Accounting, University of Benin, Benin City, Edo State, Nigeria.
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