Reality is totally different from what is perceived to become a Successful Entrepreneur of your Startup. It is indeed a rewarding experience to be an Entrepreneur , but its tough to survive too. If it wasn't , everyone would have become a successful entrepreneur by now. Just being in a position of power, however, doesn’t necessarily mean an individual is a successful Entrepreneur.
A true Entrepreneur has a disposition to motivate, inspire, facilitate dialogue and implement strategy. Startup Entrepreneurs need to work harder and put in longer hours than their employees. It's not just the hours but also the amount of risks they take must be higher than others . It is the Vision, the effort and the ability of the Entrepreneur which defines success of their Startup in the longer term.
We have outlined some traits here. If you have these within you, You Are indeed going to be a successful Startup Entrepreneur.
- Vision & Passion : A clear vision of what the Startup would be with a concise calculation of the purpose of the startup, the goal & the market position backed by the Passion in terms of hard work, longer hours & love for what they are doing are the basic qualities which a successful Entrepreneur possesses. It is the passion within such Entrepreneurs which drives them to keep working , to achieve their vision.
- Tough to Break / Quit & Quick to Bounce back :
When things don't work their way or times get rough , Entrepreneurs remain tough and never think to give up easily. Accepting rejections is their daily routine . They are quick to learn from their mistakes & thereby adapting and modifying their plans in order to be successful in the next opportunity they foresee.
- Nothing But Hard Work :
A life of an entrepreneur is harder than of an employee. Entrepreneur is willing to put in the time and effort required, often for little or no pay at the beginning. Successful entrepreneurs recognize the risk and necessary work that shall bring them closer to their goals set.
- Being Flexible in Approach :
Nothing goes always as per plans. Running a startup is like sailing a boat in the ocean of uncertain winds. Hence Entrepreneurs need to flexible in implementing their plans. Change they say in inevitable in the life of an Entrepreneur. They are not just flexible but also open to new ideas & approaches in order to achieve the goals for their Startup.
- Awesome Sellers:
The Basic thing which an entrepreneur must be comfortable in is nothing but Selling. The Entrepreneur must be an expert at networking and be able to promote themselves and their Startup Idea / Product / Service to Investors , Bankers, Potential clients , Vendors & stakeholders in general.
- Good Money Managers :
Successful entrepreneurs are good money managers. They prudently invest in overhead and always keep track of the money and manage their cash flow.
- Good to Delegate their work :
Every successful entrepreneur knows their Limitation & realize that they cannot do each type of work, even if they are skilled enough to do so. Hence they are willing to delegate work to others who are experts and apt for that type of work. Entrepreneurs often resort to help of expert advice from people on whom they count on. They can also have a Mentor to help them out in certain areas where decision making is crucial.
Hence its easy to be an Entrepreneur, but its really tough to survive as one if you are not aware of what it takes to be a successful one . Every Startup is different from another so is the Entrepreneur. Not everyone possess such traits. Some may excel in one & lack in other. Finding a right balance in few of these is the key to become a successful entrepreneur