There are qualities that entrepreneurs have that make them who they are. These qualities are the hallmark of their success. Without these qualities ingrained in them as they go about their daily business they would be like any other ordinary person on the street.
I believe it would be worth the while to know what these qualities are that make entrepreneurs successful so that you too can be successful in your endeavours. If my incline is correct, then let us consider 10 of the must have qualities that make entrepreneurs successful.
Successful entrepreneurs have a knack for dreaming. They have a compelling vision that propels them on a daily basis. You could describe them as prophets of some sort because of their ability to see what others do not see. They see opportunities where majority others see impossibilities. They have short, medium and long-term visions for their personal and business lives. This vision keeps them focused and disciplined as they do not waste their time on things most ordinary people do.
What is the use of a vision if you cannot achieve it? Successful entrepreneurs set goals; a systematic programme of thoughts and actions targeted at specific activities and bound by time for the purpose of measurement of landmarks reached. Successful entrepreneurs are not wanderers. They don’t behave like Alice in wonderland. They are not generalists, rather they are specialists, laser-beaming their efforts at specific targets.
Successful entrepreneurs have the quality of staying through hard times. What you might call staying-ability or stability in one word. Everyone goes through hard times and challenges, but what makes successful entrepreneurs succeed is their unwavering stamina to push through. Never say never attitude. They have an ‘if I fall, I must bounce back’ disposition towards life.
4. Networking skills
There is no successful entrepreneur out there who has done it alone. Success on the field of entrepreneurship requires the collaborative efforts of others. This every successful entrepreneur knows. They know how to connect with people of like minds. They know how, when and where to ask for support to get the things they need to get done. That is what makes them successful. Therefore, an aspiring entrepreneur must know that no worthwhile vision can be accomplished alone.
5. People management/leadership skills
When you bring people together to work with you, they will be people of different backgrounds, orientations and dispositions. You will require a lot of people management skills to be able to harness their differences and abilities to get the result you want. Successful entrepreneurs are masters at this game.
6. Good customer service
Any business venture that is not customer focused is bound to fail sooner or later. Successful entrepreneurs know that “customer is king”, hence they do all they can to connect with their customers and ensure that the customers are adequately served, because one unsatisfied customer means ten or even hundred lost customers and vice-versa.
This is the hallmark of true prosperity. While there are entrepreneurs that believe in being dubious in order to make maximum profit at the expense of their customers/clients, really successful entrepreneurs know that cutting corners will eventually cut them short in the long run, so they stay on the path of integrity, knowing that eventually, posterity will be the judge.
8. Ability to delegate
Most entrepreneurs have diverse skills and are able to multi-task. This is one reason why they are entrepreneurs in the first place. But the really successful ones know the importance of delegating responsibilities to their subordinates. They delegate to others in their areas of strength while they focus energy and attention on more critical matters to move the business forward.
9. Financial management skills
This is the most important quality of a successful entrepreneur, the ability to manage finances and make and run with budgets. Another important financial skill is the ability to separate personal finance from business finance. For example, for an entrepreneur who is just starting out, it may be okay to ride in public transport system when necessary and instead of buying cars when the business is not yet ripe for that. Also knowing the importance of ploughing back profit into the business for growth, rather than spending on frivolities.
10. Work-Life balance
Successful entrepreneurs know the importance of balancing their work-life with the other areas of their lives – family, recreation and so on. It is only in most cases when these other areas are in place and intact that an entrepreneur can really and truly be successful. What is the use of business success when the family is in disarray? What is the use of business success when one’s health is in shambles? Successful entrepreneurs strive to create balance in all the areas that matter so that none suffers at the expense of the other.