What factors I do / don't posses that make / do not make me a Business Entrepreneur
In my current line of work, I have met and know a lot of entrepreneurs. Some started from small and became bigger. Somehow I was able to observe their qualities that make them successful entrepreneurs. Among all those qualities, here are the ones that I can relate to mine.
1. Passion
Passion is one of the most important characteristic of a successful entrepreneur. This is the driving force behind why entrepreneurs start with their business. Entrepreneurs love their work and they put in extra effort and time to make their business succeed. As for me, I always put in extra effort for what I do because being of service to others and seeing our client SMEs become successful with our assistance is something that gives me joy which goes beyond the money that I could have earned if I had worked in a multinational or a big company.
There are others who would ask why I have stayed that long with my job and would tell me to apply in higher-paying organizations like ADB or other international organizations. But sometimes people don't understand that life is not all about money. The knowledge and experience that I get from my work will surely help me to become a successful entrepreneur someday.
I am passionate in wanting and making our clients become successful. What more if I had my own business, I'm sure I will be more passionate for it to succeed.
2. Discipline
One of the qualities that entrepreneurs should have to become successful is discipline. To transform an idea into a business, you have to have the discipline to spend time in learning how to run a business and learn even the least fun parts. When you are the business owner, only you can keep yourself at work and there is no time for playing around. You should exert more effort in accomplishing your targets and your vision.
As for me I always see to it that I accomplish our targets if not exceed it despite our limited resources. I push myself to work even if there are times when I don't feel like doing it especially the type of work which I am not so keen about like coordinating and following-up with our clients. Discipline gets me going.
3. Determination
Determination enables you to keep on trying. Entrepreneurs keep on going when the going gets tough. Entrepreneurs did not get to where they are by chance. They are not discouraged by defeats because they look at failures as an opportunity for victory. Determination provided the dream that success was a definite possibility. As for me, I always believe that something can be done. I don't get discouraged easily. I always look at better ways to do things and would always think of solutions to problems. If I have started something I am determined to finish it no matter how hard it is and how long it takes.
4. Hard Work
Most successful entrepreneurs are multi-taskers. They have the ability to cope and deal with several ideas and projects at the same time. With various programs and projects that we are implementing, I am used to do multi-tasking. Being a mother, a wife, having two subjects in MBA Regis and working full time all at once really requires multi-tasking and hard work.
5. Open to New Ideas and Willingness to Learn
Entrepreneurs are open minded and prepared to listen and learn from everyone even from their suppliers and customers. They will always keep on searching for new ways to make their business better. Entrepreneurs know the importance of being on top of their industry and the only way to be competitive is to attain the best quality of product or service. They're updated with the latest technology or service techniques and are always ready to change if they see new opportunities. Like them I am always hungry for new knowledge and implement what better methods I learned and share it with the others. I am always open to new ideas and willing to upgrade my knowledge by knowing how to listen. I am never satisfied with my level of success so I continuously improve myself.
6. Intuitiveness and Innovativeness
Entrepreneurs are intuitive. They recognize the niche markets and business opportunities that others do not see. They also innovate and are able to start a business from scratch and devise ways to make something profitable out of what others might consider "nothing at all."
Sometimes during initial talk with our clients, I could already tell by the first look or taste of their products that they have the potential to become successful. Also in order for us to provide consultancy service (e.g. during cleaner production assessments) to these clients we should also think of innovative ways on how to improve their operation or reduce their waste. We are trained to look for ways to continuously improve the process and to innovate.
7. Focus
Entrepreneurs are driven and focused on making their businesses work, and eliminate any barriers or distractions in achieving their objectives. Successful entrepreneurs take every step toward the achievement of their goals. For me I lay out my plans and think of strategies to achieve my goals in life. I would know which to prioritize in order to achieve my short term goals. I am focused on my goal so I do my best to achieve the best way I can.
8. Connections/Networks
Entrepreneurs know how to build connections and are aware of the importance of networks. Successful entrepreneurs know their strengths but they also know their limitations and utilize people who have the skills that they lack. Entrepreneurs also know how to build relationships.
I know my strengths and my weaknesses so I surround myself and work with people whose strengths are my weakness. When we visit companies that are not in line with my expertise, I bring with me experts of that certain field. Also, due to lack of sales experience, I know that I am not good at it. But sales and marketing is one of the major aspects in order to have a successful business. So when I create my business I know that I have to partner with somebody that is skilled in sales and marketing. But I can also use my current connections and networks now which I am continuously building and strengthening in case I would need it someday.
9. Resourcefulness
One of my strengths or shall I say advantage is my exposure to different SMEs and knowing what government agency to approach and get assistance from when I am ready to become full time entrepreneur. Many entrepreneurs have already enjoyed this government services. All you need to do is to be resourceful and know what programs are available and applicable for you.
I tried three assessment tools from the internet and I passed two of it that tells me that I have the qualities of an entrepreneur. Starting with the qualities that I have and currently developing what I don't have, I am confident that I will become successful entrepreneur someday. My goal is to provide employment to Filipinos especially in the countryside. All I need to do is look for capital, assess the market potential of the business, study its viability and then I'm ready to start. I now have a business in mind, and hopefully this entrepreneurship subject will be the catalyst for me to start becoming an entrepreneur in the very near future.
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