Monday, July 25, 2011

Entrepreneurial Qualities


            Dozens of articles have been written on what it takes to be a successful entrepreneur. Some list three essential characteristics, some as many as twenty-five. Oddly, few agree on the mindset one needs to succeed in a business of one’s own. But, because an entrepreneur must take the lead in starting a new business, I’ve adapted a favorite definition of leadership from Stand up, Speak out, Take the Lead by Mary Ann Livingston and applied it to create a profile of an entrepreneur. 
     “A leader must have:
·      A vision;
·      A concrete plan or road map to achieve that vision;
·      The ability to communicate that vision, and to persuade other people to buy into the vision.
·      And the persistence to lead them step-by-step through tough challenges until the vision becomes a reality.
Above all: Leaders must care.”
            Certainly an entrepreneur has to have a clear vision for his business. He has to have a concrete business plan to achieve his vision.  He has to communicate his vision and persuade others to back his plan.  He has to have the persistence to keep on through tough challenges – leading others – until the vision becomes a reality.  And above all, an entrepreneur must care about his business.  He must care enough to work hard and work smart – sometimes around the clock.  He must care about his customers. He must care enough to be willing to listen, adapt and change to meet customers’ needs better than anyone else. He must care about the product or services he offers.  He must care enough to be always working to improve.
                 And extremely important, as Charley Gould reminds us, “Entrepreneurs must have access to adequate financing.”
                 If you add to the mix the mindset that learns from failure, insists on success, and enjoys the journey – you’ll find a business owner who is unstoppable.

2 comments:

  1. "If you add to the mix the mindset that learns from failure, insists on success, and enjoys the journey – you’ll find a business owner who is unstoppable."

    Sounds like a good recipe for life.

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  2. Yeah it definitely is Virginia. The same qualities that bring success and meaning in our personal life also help us succeed in business. Very thoughtful!

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