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Do they all have something in common?
What are the underlying traits and motivations that they possess? Do you have those same characteristics?
What is an Entrepreneur?
There seems to be some stigma surrounding the word ENTREPRENEUR like it's some kind of underhanded business model that is designed only to rip people off and sell them anything at any cost. From all accounts, after reading several biographies of successful entrepreneurs it does seem the complete opposite.
The Entrepreneurial mindset is about looking for opportunities to help people solve problems(Branson, 2008).
We hear terms like “Niche Market” thrown around like it's a label for a bunch of gullible people who are easily ripped off and will buy any old thing hoping it will work whilst an “entrepreneur” offers them the answers to all their problems in a $25 ebook. A Niche Market is when you have a unique group of people who have a need specifically for your product or service and you can narrow the audience you wish to market to.
They are in dire need of your product or service and are willing to pay for it (Wikipedia.org,2015).
This is a very smart business model which is about helping others first and doing so whilst you are following what you are truly passionate about. Money is a motivation but always a bonus…” do what you love and the money will follow”(Sinetar,1987).
So you see “Entrepreneur” and “Niche Market” are not dirty words they are just a business model that makes sense and caters to everyone’s needs. There are many successful entrepreneurs that have provided a product that has had a profound effect on the masses and everyday life. Think Facebook, think Google, think Virgin(cheaper flights so that everyday people can travel the world).
“Entrepreneurship is living a few years of your life like most people won’t, so that you can spend the rest of your life like most people can’t” (Unknown)
Common Characteristics of an Entrepreneur
So what do many successful entrepreneurs have in common?
Do you have Entrepreneurial Qualities?
1. Do you have the Tenacity to start a project commit and never ever give up? Yes/No
2. Do you have so much passion for your product or service or simply an idea that it's the first thing you think about when you wake up and you forget to eat, play, and even remember to dress for the day before you jump into it chipping away at your goals and future success? Yes/No
3. Do you have the ability to suffer fools to achieve your goals and find new paths around old obstacles on your way to success? Tolerance and Ambiguity are crucial to surviving failure and handling fear in situations where you feel that you have jumped in way over your head but you would jump anyway many times. Yes/No
4. Do you have a Vision? The ability to spot an opportunity and improve and maximise that opportunity provides a clear picture to those you wish to invest in or support your idea. Yes/No
5. Self-confidence is the key to success as an entrepreneur and you have to be filled to the brim with Self-belief not only in yourself but your product, service, or idea and its success. Do you possess this self-belief? Yes/N
6. Rule-breaking as a notion is what many would see as creating a path that no one else has taken and starting your own business of this nature compared to the masses is a great example of this. Going against what the majority see as the norm is the very nature of entrepreneurship. Are you prone to bend, twist, and snap the rules? Yes/No
7. Will you have Flexibility when a market dictates your product and ultimate success will mean you will have to adapt and accept when things are not working and have the capability to change so that they are? Yes/No
Is this how you tell if you are secretly an Entrepreneur?
Well, you would have had to answer YES to all of the above questions! Just kidding...looking at these common traits and understanding the relevance of certain characteristics within yourself can indeed help you define if you have what it takes to take an idea and turn it into a success.
The purpose of looking at these traits is simply to break the requirements down to a more relevant reference. Successful entrepreneurs like Richard Branson, Steve Jobs, etc... are not superheroes. They are just people who have these traits and understand what it takes to succeed in anything you put your mind to.
They have gotten to where they are by sheer passion and persistence. They also have been mentored to help them enhance and build on these traits that they already possess. You too can take that step and study entrepreneurship and be mentored.
Check out the nationally recognised courses that can supercharge your entrepreneurial vision here
