Qualities and Characteristics of Famous and Successful Entrepreneurs
Entrepreneur is a word derived from the root word enterprendre which means ‘TO UNDERTAKE’ i.e. the quality to take risk. But it doesn’t mean that entrepreneur takes risk without analyzing. Today many of us want to become successful entrepreneur and want to start our own business and most of them think that becoming entrepreneur is an easy task., but most of them are not aware of the hard work behind their success. They don’t know that an idea is of no use if it is not executed well. No investor want to invest in an idea, all want to invest in a person or team that is behind that idea.
Starting a business and becoming a successful/famous entrepreneur is not easy as many think. For becoming a successful entrepreneur you need to have different thinking and imagination level from others. Because this is the main thing that separates us from a SUCCESSFUL ENTREPRENEUR. The main quality or characteristics that I think an entrepreneur must have is a problem solving ability. Then only he/she will be able to make a product that can help others to not face the same problem again. There is no defined set of pattern which tells you what one should do to and what are the qualities one should have to become a successful entrepreneur, but there are some qualities that most of the successful businessman and entrepreneur have in common.
So without waiting i am going to discuss some qualities/characteristics that most of the successful and famous entrepreneurs like Bill Gates, Steve Jobs and Mark Zuckerberg have in common.
· Self- belief:
Self confidence is very much important at every stage of life, yet most of us lack self confidence at different stages of our life. Self confidence is the first thing that you must have if you are thinking of becoming an entrepreneur. Person who lacks self-confidence find it difficult to get successful. If you are not confident about your ability then how you can make others to believe in you or your ability.
One of the defining quality of entrepreneur is that they easily spot the area where there is a need of improvement in particular product or service, that vision quality to see the things in a different way makes them stand out of the crowd. And not only they just spot the area of improvement they also try to find the best possible solution for that problem.
Let me explain you with an example, Ritesh Agarwal founder of OYO rooms while traveling in his struggling days found that the services of hotels rooms are not up to the mark and he did not only stops there he also finds the solution of that problem. And now I think you all are familiar with OYO rooms.
Not just to become a successful entrepreneur but to become a successful person in any field you should have good communication skills. If you have good communication skills then only you will be able to explain about your product to your investors and also to your customers. If you don’t have good communication skills then in spite of a good product you will not be able to convince investors to invest in your product.
· No fear of failure:
Fear of failure is the main thing that stops us from trying different things. Many of us have experienced it once in our life. Actually FAIL means FIRST STEP IN LEARNING. If we don’t have fears of losing then believe me we will not be able to achieve much more then what we have today. It’s only the fear of losing that stops us to try different things in different methods. If we don’t think of loosing then the chances of our winning also increases.
Leadership is one of the main things that all Entrepreneurs have in common why not, if you are running a business and having a team then you should be a good leader then only you will be able to guide each and every member of your team. No business will either be successful if it doesn’t have good team or more importantly a good leader.
Qualities of good leader
A good leader is one that thinks first of its team then for himself.
A good leader is one who supports all its team mates and treats them equally.
A good leader is one who takes initiatives of the failure and backs its team at every stage
· Taking risk:
Risk taking becomes a part of your life if you are operating a business, And entrepreneur don’t fear to take risk. But taking risk without any analysis of the situation is not a good idea so first analyze the situation then only thinks of taking the risk.
If we have to describe entrepreneurs in one word then passion fits best for it. Passion is a strong feeling of excitement to do something. Passion can also be describe as a force that pushes you to perform our task. If you are passionate about your work then you need not to be pushed for it.
· Ability to sell:
|ability to sell|
If you don’t have an ability to sell your product then entrepreneurship is the wrong field for you. For a good entrepreneur you must have the ability to sell and promote your product. You must have to convince others to buy your product then only you will think of becoming successful.
· Understanding of market:
For an entrepreneur market understanding is must. He or she must understand about the market for their product they must know for what they are making the product and how their product would solve the problems of others. They must know which class of people will buy their product and what would be the price of their product or service.
When you are all set to become an entrepreneur then you must have a clear idea of your product or service and you must also have a clear idea about how your product can be used to solve others problems.
For becoming an entrepreneur your observing power should be good. You must observe the things carefully, and then only you will observe others problems and make a product for that. You must understand how your product can solve their problems.
At last I just want to tell you that thinking of becoming an entrepreneur is an easy task but to actually become a good and successful entrepreneur you must have some of these qualities ideally all these.