6 entrepreneurial qualities every businessman should have
Entrepreneurs are known for taking risks, setting goals and managing themselves. But how do they do it?
Entrepreneurs are known for taking risks, setting goals and managing themselves. But how do they do it? They adopt the following six qualities. 1. They’re not scared to do everything by themselves
\nWe all complain about our bosses at some point because we all want to be our own boss. But being your own boss also means doing everything by yourself – including managing your time, setting your goals, and motivating yourself. Entrepreneurs are not scared to do that.
\nOprah Winfrey, an entrepreneur in her own right, said she never thought of herself as a poor, deprived ghetto girl who did good in her life. Rather, “I think of myself as somebody who, from an early age, knew I was responsible for myself – and I had to make good.”
2. They solve problems rather than thinking about them
\nWhile most people spend long hours thinking about their problems, entrepreneurs find ways of solving them. It’s probably why they set up their own businesses in the beginning. When you start your own business, you know you’re going to face a problem or two – if not a dozen. They’re prepared for that and keep a positive mind to solve the issue rather than think about it and allow it to drag on longer.
3. They’re passionate about work – not play
\nWhen we asked millionaire restaurateur Arkady Novikov in September what his secret to success was, he said two words: “hard work”. Novikov started his career as a cook.
\nToday, with over 50 restaurants, lounges, and bars around the world, Novikov’s favourite thing to do is work. What does he do on the weekends? Spend time with his family.
\nEntrepreneurs are not all that crazy about “play”. They prefer work because it’s a type of play for them. They enjoy work just as much as they enjoy down time.
4. They control their emotions
\nIt’s not that they don’t have emotions or feel them as strongly as others, it’s just that entrepreneurs choose to control them. Why? Because we all know emotions can get in the way of clear decision making.
\nAuthor and critic Marya Mannes said a sign of intelligent people was their ability to control emotions by the application of reason. How else would you be a successful businessperson? You can’t do that if you’re an emotional wreck, that’s for sure.
5. They don’t do it for the money
\nWe all want money - tonnes of it, in fact. Who wouldn’t want to buy the next fastest sports car or the biggest house or even just a luxurious vacation? What differentiates entrepreneurs from regular businesspeople is that they don’t start a business for money. They start it for the passion. Like founder of Facebook, Mark Zuckerberg, put it, “If you just work on stuff that you like and you’re passionate about, you don’t have to have a master plan with how things will play out.”
6. They’re not afraid of failure
\nHenry Ford, founder of Ford Motor Company, probably had the best policy when it came to failure. He said, “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.”
\nEntrepreneurs often fail. But they’re not scared of failure. They either learn from it, ultimately reach success after it, or use it for further motivation. In a nutshell, they’re risk takers – and what scares risk takers? Only regretting not taking a risk. As Ray Kroc, founder of McDonald’s put it, “If you’re not a risk taker, you should get the hell out of business.”