Anyone can be an entrepreneur, whether they are male or female, young or old, or tall or short. However, not everyone can be a successful entrepreneur. I think that to be a successful entrepreneur, one must have traits such as: determination, the willingness to fail, the ability to manage finance, the readiness to take risks, and lastly the ability to build good relationships with people.
Once someone has decided to become an entrepreneur, they should be determined to stick with their business through thick and thin. Determination can and will bring you success! Let's say that you own a small business that is in the eye of a bigger business but you were not aware. You went through a disaster during the first few months but never gave up, and the bigger business witnessed that you went through a storm and have emerged successfully. Maybe that is the kind of determination the bigger business wanted in a partner and they would be more inclined to partner with you thus forming an even more successful entity. That's just one example as to how determination can bring success.
Failure just might be one of the best things that can happen to someone. I often say to myself that most people fail twice because after they have failed the first time, they tend not to focus on the positive side of that failure and end up failing again. When an entrepreneur fails he/she should know that it doesn't mean to pack up and leave, it means that they have just found another way not to do it. If you are going to start a business, do not let the fear of failure take you over because it can have negative impacts on your confidence and determination. So grab failure by its horns, toss it aside then keep moving forward.
One of the most important traits an entrepreneur must possess is the ability to manage his/her finances. Whether someone becomes an entrepreneur just because they enjoy doing what they do, for the profit or both, they should know how to spend and invest their money wisely, otherwise, they will just be wasting their time and resources. Keeping a budget is very important because it gives you a spending limit and helps you to save some money but if you feel like you cannot manage your finances, I suggest that you hire a trustworthy financial advisory to help you out.
All entrepreneurs know this, however, if you are new in the business you must know that risk taking is a huge part of being an entrepreneur. Now, when I talk about taking risks, I do not mean that you should jump on every risk out there.You should do some homework on the risk you want to jump on first. Taking risks ties into the traits of being willing to fail and determination. If an entrepreneur does not apply those traits, they will not reap any reward because they will not make any progress. I'm still a student of entrepreneurship and I have more to learn about taking risks and the other traits of an entrepreneur but I will encourage anyone who is willing to become an entrepreneur to do a little research on the risk, get a plan A and a plan B then jump on the risk.
People people people! In order for an entrepreneur to grow his/her business they must have good relationships with people who can help them. Building good relationships with people is not only just for growth, but for building trust with your customers to gain their loyalty and respect. Just in case new competitors arise you can count on your costumer's loyalty if you have good relationships with them.
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