Entrepreneurs are made, not born!
Entrepreneurship requires all-encompassing skills and abilities that other occupations do not even touch upon. Engineers draft plans for a new project, then pass the designs to others who will make it a reality. But for an entrepreneur, it’s different skills Every aspect of a new venture lies in the hands of the entrepreneur. They need to know everything about the business and take the roll as a visionary, project manager, salesperson and more. This doesn’t mean that all entrepreneurs need to get an MBA to learn these skills. In fact, a majority didn’t even have entrepreneurial aspirations while attending school. Here are six attributes that every entrepreneur must learn along the journey to success…
1. Embrace Failure – Entrepreneurs will fail more times than they will care to count!
They accept failure as a learning opportunity and forge ahead. Catastrophes happen, disappointments are part of regular activities and the faster entrepreneurs can accept it and move past it, the better they will be at learning from their mistakes. Reaching overnight success is rare. Many people aim for instant success because they hear about it in the media and they believe that all it takes is money and the desire to put up a business. Entrepreneurs know how to pause along the way and take steps to make a strategy. They have a vision and they will continue until that vision becomes a reality!
Ideas don’t build a business, people do. Entrepreneurs cannot run a successful company alone. It is essential to know how to empower others to join their vision. The entrepreneur has to give up some control and put their efforts in building other people’s skills if they want to build a scalable company. Delegating is a skill in itself. The entrepreneur needs to work on the essentials while passing on tasks that others can complete. Being able to motivate other people towards your vision will bring rewards to the whole organization.
3. Invest in People.
Entrepreneurs know the value of networking and mentorship. They invest their time and money in people. Building professional networks and surrounding themselves with people of the same mindset will go a long way in helping make their goals a reality. Entrepreneurs acknowledge the importance of seeking mentorship to help guide them along their business journey. Entrepreneurs must leverage employees and other resources in order to build a scalable company. They learn to network effectively and meet the right people.
4. Learning doesn’t end in school -Entrepreneurs are ‘jacks of all trades, but masters of none.’
In his book Outliers, Malcolm Gladwell has popularized the idea of 10,000 hours of practice needed to attain mastery in a field. The time an entrepreneur spends running a company makes it hard for them to become an expert in a certain field. Entrepreneurs don’t have to be experts, but they do need a wide range of skills. They have to know a little bit of everything in order to make their vision a reality.
5.Learn to Listen…
Be present when you speak with a colleague or employee. Take the time to fully understand what the other person is saying. Leaders who listen effectively avoid miscommunications and are less likely to have to ask for clarification later.
6. Entrepreneurs don’t forget the importance of Culture!
Successful startups establish and maintain some the best company cultures that promotes and motivates employees. The team behind a product or service is one of the most important factors for a successful business. The first people you hire for your startup are critical to your startup’s success. And cultural fit is as equally important as competence when hiring your best people.
People with the right skills and personality are more likely to influence your small team to greater heights than just competent hires. Culture takes time and effort to build, but as long as you don’t lose sight of it, you are on a journey to building a great company. It is well known that Google has a unique culture and some of the company’s success can be attributed to this culture.