What makes a successful entrepreneur?

We need entrepreneurs for countries to experience economic development. But who exactly is an entrepreneur?
An entrepreneur can be defined as someone who is willing to take the risk in a new venture if there is a significant chance for profit.
An entrepreneur possesses certain traits that makes him stands out from the crowd. Some of these traits are inborn whereas others are learnable.
An entrepreneur has that desire to discover new things. He is curious to learn new things and has a questioning mind.
He wants to know why certain things are the way they are or why things are being done in one way and not the other.
As a result entrepreneurs are always bursting with creativity, coming up with new ways of doing things, introducing new solutions and willing to think of new possibilities.
Entrepreneurs are very clear as to what they want to achieve, where they want to be at some point in the future and how they will get there. They have a vision. They will work to achieve that vision.

They have clarity of this vision so that when they communicate it they do it very effectively to their followers.
Ability to communicate what you believe in is one of the critical traits that an entrepreneur should possess.
If you have to convince your team or potential funders you need to be able to communicate your vision clearly both verbally and in writing.
Communication helps the entrepreneur influence followers, build relationships with customers and suppliers and produce results. To be a very good communicator one needs to practise often.
As an entrepreneur you are not going to be a “solopreneur”, where you do everything yourself. You need to work with others. You need a team. This therefore calls for leadership acumen. You should be able to lead.
This skill can be learned. Dave Allen said “You can do anything but you can’t do everything.” An entrepreneur focuses on those things that they are good at and they delegate the rest to those who have the expertise.

Sometimes they have to outsource certain functions. This needs good leadership to be able to lead other professionals or partners in other business.
An entrepreneur is someone who is willing to take risks. They are prepared to move out of their comfort zones. You cannot progress if you don’t take action. An entrepreneur is prepared to take consistent action.

“Do not wait till the iron is hot to strike but make it hot by striking.” said William Butler Yeats. You need to take action even though you don’t know what the outcome will be.
In some cases you will lose but that’s the whole game of being an entrepreneur. You should not be afraid of failure.
When you fall don’t remain floored get up and move on. Failure is part of being an entrepreneur. Learn from your failure.
An entrepreneur is passionate about what they do. Passion is the fuel that drives you even when the situation is untenable, when the business is not making profits and there seems to be no light at the end of the tunnel. It’s passion that makes successful entrepreneurs.

Entrepreneurs think outside the box. They think differently and sometimes they are mistaken to be crazy. You have to think outside the box if you have to make a difference in your world.
Jeff Bizos founder of Amazon said “Entrepreneurs must be willing to be misunderstood for long periods of time.” Be willing to take chances regardless of what other people think.
Eleanor Roosevelt said “You wouldn’t worry so much about what others think of you if you realized how seldom they do.”
So don’t worry about what people say or what people think. Keep your focus on your goal until you have achieved it.

Entrepreneurs possess a competitive nature. They have a no-losing spirit. They do not accept a no for an answer. They keep on pushing until they achieve what they want. As an entrepreneur you believe you can do better and so want to win against all odds.
An entrepreneur is a self-starter. You don’t need anyone to push you to do things as an entrepreneur. Your goals will drive you to wanting to achieve.
The desire to achieve motivates entrepreneurs to do their work very early in the morning when there is minimal disturbance. They ensure that every project they start is completed. They don’t need anyone to be pushing them to finish their assignments.

An entrepreneur is prepared to meet challenges head on. An entrepreneur never quits. You need tenacity, the spirit of persistence, doggedness and drive.
Whatever the hurdle that comes your way you need to continue moving forward. An entrepreneur has that sheer will to keep going even though the situation looks impossible.
Winners never quit.

Stewart Jakarasi is a business and financial strategist and a lecturer in business strategy and performance management.
He provides advisory and guidance on leadership, strategy and execution, preparation of business plans and on how to build and sustain high-performing organisations.
l For assistance in implementing some of the concepts discussed in these articles please contact him on the following contacts: sjakarasi@gmail.com or +266 58881062 or on WhatsApp +266 62110062