Businesses have always been in existence. There are various forms of business organisations, and over time, they changed. The world moved from proprietary firms to partnerships, ventures, companies and LLPs.
In this fast-paced and ever-changing world, we don’t need business only for doing business. We need people who can create a business, lead it, and uplift the employees and society. These days we often come across the words entrepreneurship, entrepreneur etc., to denote people who do business.
However, not all people in the industry are entrepreneurs, and entrepreneurship is not merely business. It’s a lot more. Let’s delve more into this.
Table of Contents
What is Entrepreneurship?
Entrepreneurship means a person who has the capability and willingness to create, manage and cater to a business enterprise. It also needs patience to handle the business when things feel vague and uncertain.
Who is an Entrepreneur?
An entrepreneur is an individual who comes up with a business idea, develops it, makes it into a business model, arranges the resources that the business requires and leads that business to earn profits. There are many perceptions of an entrepreneur.
Qualities To Be a Good Entrepreneur
1. Passion
Passion is the foundation of a good idea. It is the engine that drives the greatest of minds and holds curiosity. Passion is the life of the belief with which one starts a business. Thus, to be a good entrepreneur, one should be passionate about their business idea.
2. Creativity
Ideas stay only ideas if one doesn’t touch them with creativity. Ideas are raw thoughts and vision. To put them into execution, one needs creative touches.
3. Discipline
No matter how smart or talented one is, they are far from achieving their glows if they lack discipline. As an entrepreneur, you owe to your business and not just the other way round.
4. Dedication
Along with discipline comes dedication. That means you show up on the good days, even more when winds are against your sails. The patience and work to keep striving and thriving, no matter what.
5. Communication Skills
Communication is key – in all aspects of our lives. An entrepreneur may have to deal with many people having diverse behaviours, and effectively communicating with all to get work done is a skill an entrepreneur needs.
6. Risk-Taker
When a person executes an idea into a business, they do not know beforehand whether it will be successful or not, not proportionately. Though there are calculations and estimates, there are always uncertainties and risks. And one needs to be courageous enough to take the chances that the business may require.
7. Flexibility
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.”
Charles Darwin
And indeed, an entrepreneur needs a flexible approach to sustain their business. Change is constant. It is a necessity too. But knowing how to respond to change determines the business’s future.
8. Awareness
Another thing, even when an entrepreneur delegates work amongst various people or teams, they should have cognizance and knowledge of what is going on in and around the organisation. Besides, an entrepreneur should possess good knowledge about his business and not shoot a vague idea into existence.
9. Learner
An entrepreneur should be a learner. No person knows it all. We learn along the way, be it while doing the job, business or even art. But if one is willing to learn as time demands, one can go a long way.
10. Sporting
An entrepreneur may possess the spirit of a sportsperson. Even though they are their business owners and may be leading it, they don’t do it all alone. There are many people because of whom the business grows. Thus, an entrepreneur should display a sportsperson’s spirit when working with people.
Entrepreneurship means different things to different people. Some see it as a sole proprietorship, and others see it as a business person. But when you say entrepreneur, it is a person who can run and create a business idea from seed and has the patience to wait for the fruits to bear. Besides, it requires other qualities such as being a good leader, expressive, knowledgeable, courageous, dedicated and disciplined.
No person is a good entrepreneur from day one, and no entrepreneur is perfect. But the best one is the one who shows up each day and strives to be better.
