Here are the 9 Greatest entrepreneurial qualities and success factors that you can adopt in your small business.
As an entrepreneur, seeking to succeed in your business, you must practice these qualities and success factors throughout your business life.
These entrepreneurial secrets have been taught in books and articles over the years.
Here they are:
- Continuous action
You must be absolutely clear about:
- who you are
- what you can do,
- cannot do
- and what you want to achieve.
To do this, you need to begin with your values.
What do you believe in and stand for?
Furthermore, you need to define the most important thing you want in your business life.
Finally, you need to figure out what you will be willing and able to:
- pay for,
- fight for,
- suffer for
- and die for.
Entrepreneurial Qualities: Vision
You need a knowledge and imagination that are needed in planning for the future with a clear purpose.
In particular, your vision statement will focus on the areas:
Most importantly, even if you are starting your business on a kitchen table, you must have a vision of becoming a leader in your industry.
Entrepreneurial Qualities: Mission
You need to craft a mission statement about the aims of your business.
In other words, you need to state where you want your business to be, say in the next 5 years or so, and when you want to get there.
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 with your products and services.
Most importantly, you need a clear vision and an inspiring mission to motivate yourself and others to do the hard work necessary to achieve entrepreneurial success.
What is your purpose for your business?
It is important for you to ask yourself why you decided to go into business, in the first place.
You must clearly identify that thing that would make you to get up early every morning?
Furthermore, you need to be clear on what level of entrepreneurial success you want to achieve.
Entrepreneurial Qualities: Goals
What are the goals of your business?
For example, you need to state the goals:
- Impacts on other people
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.
In your quest for entrepreneurial success, you must have the ability to carry out your business tasks successfully or efficiently.
In other words, to be truly successful and happy, you must be very good at what you do.
More importantly, you must resolve to be among the top 10% of the best performers in your field.
Furthermore, you must be able to fully dedicate all your energies and time to providing quality products and services.
Most importantly, apart from developing a high reputation for quality products and services, you need to be competent in what you do.
Remember that Competence and character are everything.
Entrepreneurial Qualities: Constraints
Between you and your goals, whatever it may be, there will always be constraints or limiting factors.
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.
In business, there will always be constraints or difficulties that can try to hold you back.
Constraints can be in form of time, money, marketing, materials or even stress levels.
Another entrepreneurial qualities and success factor is your ability to identify faster, cheaper and easier ways to deliver your products and services to your customers.
The essence of creativity is contained in your ability to solve the inevitable problems and difficulties of your business.
Remember that leadership is the ability to solve problems.
Similarly, success is the ability to solve problems.
And do not forget that success is where preparation and opportunity meet.
Consequently, the way of the successful entrepreneur is to focus on the problem rather than the problem.
In other words, you should focus on what is to be done rather than what has happened or who is to blame.
Furthermore, you must concentrate all your mental attention on finding a solution to any obstacles that is holding you back from sales and profitability you desire to build your own successful business.
Your ability to concentrate on one thing, the most important thing, and stay at it until it is complete, is an essential prerequisite for success.
In other words, no success is possible without the ability to practice sustained concentration on a single goal or task, in a single direction.
Additionally, the simplest way to learn to concentrate is to make a list for each day before you begin.
Again, you can rank your task according to the importance you attach the tasks.
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 complete.
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
Courage is rightly considered the foremost of the virtues, for upon it, all others depend.
Beyond that, it takes tremendous importance courage to take the entrepreneurial risks necessary to achieve success in business.
First of all, you the courage to move out of your comfort zone. in the direction of your goals and dreams even when you know that you will experience many problems, difficulties and temporary failures along the way.
Secondly, you need the courage to endure, to hang in there, to persist in the face of all challenges until you finally win through.
Therefore, when you develop these twin qualities, the ability to step out in faith and then be to resolute in the face of all difficulties, your success is guaranteed.
Entrepreneurial qualities: Continuous action
Perhaps the most outwardly identifiable
quality of a successful person is that he or she is in continuous motion.
Beyond that, the entrepreneur is always trying new things and if they do not work, trying something else.
Consequently, because they continually reacted and responded constructively to change, trying new methods, abandoning activities that do not work, picking themselves up after every defeat, they
Furthermore, top people, especially entrepreneurs seem to have three qualities.
First 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 you increase the chances that you will succeed.
Most importantly, if you fail, you should never despair.
Pick up your pieces and don’t give up. Remember
that quitters do not win and winners do not quit.
By Samuel Ijenhi
B. Sc. Accounting [University of Benin]
Benin City, Nigeria
Founder: Ijenhi Business Solutions