I am so excited to share my first article. This is about three essential qualities required for a successful entrepreneur to achieve his goal. Well, I am not an entrepreneur but many books and readings pave a way for this article. It would help young minds who have stepped in to create an impact in the world. These qualities should be injected into the DNA of an individual in order to achieve sustainable growth.
Three Essential Qualities for a Successful Entrepreneur
Round the clock process
If you work for an organization, you could delay the activities for one or two days or you could also pass it to your colleagues. At times, you may not provide 100% dedication at work. But when it comes to working for yourself, it is all about 24 X 7 process. Your success is purely based on how differently and quickly your day to day activities are planned and accomplished. No doubt, these are simple activities. Even bigger goals and achievements begin with simple steps. We cannot achieve anything big overnight. It all happens in movie.
One of my brothers, a successful entrepreneur, started from scratch in the business with merely zero financial support from family but now he owns a bigger show room at the popular location, generating crores of rupees yearly revenue. He had spent tremendous amount of time in the earlier days for thinking about the activities such as, getting new customers, developing network of people, exploring into new location (or opportunities), monitoring revenue & expenses and getting more out of the employees, etc. He literally spent most of the time to improve himself first and then the business. When it grew up, the roles and responsibilities were cascaded to the trustworthy employees within the business.
As an entrepreneur, you have to improve your thinking process continuously. You could also see that the words coming out of successful people are counted, limited and each word has a value.
Trust is a trademark
The most important quality is to build trust among relationships in the business. You may delay your monthly bills, borrowings and credits when you are on a job. And you don’t feel a huge impact. But when it comes to business/entrepreneurship, paying dues regularly, attending customer complaints, and giving prompt response play a critical role in relationships and networking.
These skills build your character. Over time, they become your attitude. Once people know that you are responsive, committed and reliable, you will get more and more opportunities. Here comes the trust. Trust trademark is not a quick win activity as it needs time but time will prove its value.
Foresee the opportunity
Many people are now thinking of current market requirements and exploring into opportunities. Ex. E-commerce, Telecom and Logistics……. These fields are successful now but remember that top giants started working on these areas 5 or 10 years before. They are getting the fruits now. So we need to predict our requirements in advance. Let's say, the need for the year 2025 or more. It may be creative education, rehabilitation centers for digital addiction, preserving air and elder care, etc. The successful entrepreneur predicts the requirements perfectly and provides solution at the right time and in the right location.
The dangerous part is when you think of an idea, remember that many people may also working on this at the same time, and they could be your neighbors, friends, colleagues or plain strangers. This is the competition. You have to win your mind and others' mind too. The successful entrepreneur initially spends tremendous amount of time for field visits, discussing the ideas with more experts and identify the best value addition method. Exploring the right opportunity and timely execution are the key factors for a great start.
In simple words, entrepreneurship is hard work in the beginning and smart work when you grow.
I hope the above three points can help readers in becoming successful entrepreneurs. Thanks for your valuable time in reading. Wishing you Good Luck.