We’ve all seen those TV shows from across the globe where newly fledged entrepreneurs attempt to convince a board of investors that the company or invention about to be unveiled is worthy of funds to take things to the next level. Not many entrepreneurs seem to get the investment they desire, with their only real takeaway from the panel being that a return to the day job might not be such a bad idea. If you’ve seen these shows, you will have no doubt found yourself falling into one of two categories. The first category concerns people who look at these inventions with an indifference, not knowing whether the judges (if we can call them judges) will invest. The second category concerns people who look at what’s being presented on the show and know instantly whether the investors will be queuing up or ducking out. If you are in this second category of intuitive business minds, you may have one of the characteristics required to be a successful entrepreneur. But what else do you need?
Well, you need to know how to put together a supportive workplace that is safe for workers (if you have been personally affected by an injury at work, see this personal injury attorney based in Atlanta GA). After all, a workplace that is not safe and suitable for workers cannot expect to retain staff – slips, trips, and falls, among other workplace injuries, must be the kind of thing you naturally wish to work to eliminate if you want to be a successful business owner. But as for characteristics…
Self-starter
You must understand why you wish to do something. If you don’t know why, you won’t go very far. Some people call it motivation, but at the heart of motivation is a drive towards something for a reason, and without that reason, you can’t expect to stay focused. Sure, having a million dollars in the bank is a reason we’d all like to be the CEO of MegaDollarStartup, but unless you have the passion for the in-field development of ideas, you’re going to find that you’ll be outstripped by the competition who are in it for reasons of passion for business innovation.
Risk taker
Have you ever played the game of Risk? It’s a board game based on warfare and world domination. There’s an easy way to win the game (which actually never works out – involving placing your armies in southeast Asia and staying put until everyone else fights it out), or there’s the risky way to win the game (which is the only way anybody ever wins, and that’s by taking the larger continents and playing things a bit more by ear). If you are not a natural risk taker, your abilities as an entrepreneur may be somewhat stuck in a lower gear.
Lastly, you must be flexible towards change
Things change. Plans evolve. Priorities shift. There’s an old saying that goes “if it makes money, it makes sense”. How closely you wish to stick to this reasoning is up to you, but an inability to change means an inability to adapt, and that’s entrepreneurial dry rot.
