TWO TRAITS NECESSARY FOR SUCCESSFUL ENTREPRENEURS

CREATIVITY:

This is the ability to create new ideas and ways to solve problems that provide cool opportunities. Being creative requires using both right and left side of our brain. This entails the analytical, rational, initiative and artistic capacity of t e individual. In addition to this, a creative entrepreneur must be:

·                   Bright

·                   Adaptable

·                   Challenge-oriented

·                   Idea-oriented

·                   Inquisitive

·                   Curious

·                   High self esteem

Often times, I asked if one can improve creativity, the answer is YES. You can do this by gathering as much information as you can (read, talk with experts, etc.); brainstorm over time. Just think about the problem or issue until an idea comes to you. If the solution reasonable I advise you to try it. If not, keep thinking. If you seem not to get a lasting solution, begin the process over again. Don't put barriers on your mind. Put these steps to use.

INNOVATION: This is the ability to invent or create from an existing idea or product.

Innovative ideas come from the following:

·         Complaints from an unsatisfied customers

·         Demographic changes in society

·         Luck

·         Imagination

·         Vision

·         Problem-solving

In being Creativity and Innovative, you need to look for new ideas, keep it simple and begin the process in a small way. If you fail, try gain, again and again.

Is Entrepreneurship For You?

In business, there are no guarantees. There is simply no way to eliminate all the risks associated with starting a small business - but you can improve your chances of success with good planning, preparation, and insight.

1.    Are you a self-starter? It will be entirely up to you to develop projects, organize your time, and follow through on details.

2.    How well do you get along with different personalities? Business owners need to develop working relationships with a variety of people including customers, vendors, staff, bankers, and professionals such as lawyers, accountants, or consultants. Can you deal with a demanding client, an unreliable vendor, or a cranky receptionist if your business interests demand it?

3.    How good are you at making decisions? Small business owners are required to make decisions constantly - often quickly, independently, and under pressure.

4.    Do you have the physical and emotional stamina to run a business? Business ownership can be exciting, but it's also a lot of work. Can you face six or seven 12- hour workdays every week?

5.    How well do you plan and organize? Research indicates that poor planning is responsible for most business failures. Good organization of financials, inventory, schedules, and production can help you avoid many pitfalls.

6.    Is your drive strong enough? Running a business can wear you down emotionally. Some business owners burn out quickly from having to carry all the responsibility for the success of their business on their own shoulders. Strong motivation will help you survive slowdowns and periods of burnout.

7.    How will the business affect your family? The first few years of business start up can be hard on family life. It's important for family members to know what to expect and for you to be able to trust that they will support you during this time. There also may be financial difficulties until the business becomes profitable, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk in the short-term.

There is a fiction that says to be an entrepreneur; you must be born that way while in a contrary belief,

It was regarded as fact that anyone can learn to operate like an entrepreneur.
Many successful entrepreneurs have similar traits and characteristics, these similarities are not limited to but include:

·                    Persistence

·                    Desire for immediate feedback

·                    Inquisitiveness

·                    Strong drive to achieve

·                    High energy level

·                    Goal-oriented behaviour

·                    Independent

·                    Demanding

·                   Self-confident

·                   Calculated risk taker

·                   Creative

·                   Innovative

·                   Vision

·                   Commitment

·                   Problem solving skills

·                   Tolerance for ambiguity

·                   Strong integrity

·                   Highly reliable

·                   Personal initiative

·                   Ability to consolidate resources

·                   Strong management and organizational skills

·                   Competitive

·                   Change agent

·                   Tolerance for failure

·                   Desire to work hard

·                   Luck

Many entrepreneurs also had a role model to influence them; this might be parents or someone who already built a successful business.

Entrepreneur

Entrepreneur.......definition

Entrepreneur in English is a term applied to the type of personality who is willing to take upon himself a new venture or enterprise and accepts full responsibility for the outcome.

An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome. An entrepreneur is "one who undertakes an enterprise, especially a contractor, acting as intermediate between capital and labour

Entrepreneurs choose a level of personal, professional or financial risk to pursue opportunity.

Entrepreneurs tend to identify a market opportunity and exploit it by organizing their resources effectively on outcome that changes existing interactions within a given sector.

A true entrepreneur is a man who is real and factual in his bid for success; that considers the various factor that constitute the characteristics as well as the sacrifice of the title. He is a man with open mind, a flexible reality, an individual with the skill to turn new ideas into real and profitable ventures.

Start by evaluating your strengths and weaknesses as a potential owner and manager of a small business. Carefully answer each of the following questions in the rating of Good, Fair or Bad.

THE BENEFIT OF AN ENTREPRENEUR

The benefit of owning your own business is enormous and colossal. “Owning Your Business” means you are your own boss. You design your life, service it and run your business at a gravity of the success you desire.

You define how many hours you want to serve yourself, you reward yourself accordingly. The energy and motivation to work comes from within you because you are not working to build another person’s empire, it’s also in your choice to select who you work with.

When you are an entrepreneur, you have an option of not obeying the irritating 5 am wake-up alarms. You chose when to wake, when to work and when to rest.

An Entrepreneur has a sense of ownership of the business and he thus can make decisions that suit his principles.

It will also be good to highlight that as an entrepreneur, time used in building your business is considered an” time invested” rather than “time spent” when you serve a boss. Above all the Business is yours.