Entrepreneur..What words come to your mind when you see this word? Optimistic? Realistic? Passionate? Dedicated? Hard-working? Well, These are the most common ones. Entrepreneurship is not an easy ride. You should be patient while tackling problems and not lose your calm in important situations. Pursuing a career in this can prove to be life -changing and rewarding.
You can set up the business the way you want to, you can design your own schedule, you do not have to report to any superior body. Though there is always another side of a coin- you are a sole risk taker in your business, all the managerial responsibilities are on your shoulders, abstracting the best out of every person in your start up is your duty and so on. Below are the signs whether you are an entrepreneur(at heart, if not in practice)
1-You take action.
You try to fix a problem by taking actions and not by playing the blame game. Barbara Corcoran, founder of The Corcoran Group, co-star of TV’s Shark Tank and author of Shark Tales: How I Turned $1,000 into a Billion Dollar Business, says people who have a concept but not necessarily a detailed strategy are more likely to have that entrepreneurial success. Invent ways as you go through. Or else you will be stuck over-analysing situations instead of taking quick actions.
2- You’are Insecure.
Corcoran adds that many entrepreneurs judged as ambitious are really insecure underneath. Her suggestion is that if you are insecure you should try to use it for the benefit of your growth. You feel something will go wrong while cracking the deal or nervous about failing . Hyperfocus on failing will be instrumental in bringing out the best of you as you will do anything to succeed.
3- You’re crafty.
Tony Hsieh’s favorite TV shows growing up was MacGyver, Simply because he never had the perfect resources he needed but would figure it out how to make everything work out. A life long entrepreneur Hsieh has done everything from worm farm to making buttons and selling pizzas, and therefore he admires MacGyver. Even I think, every entrepreneur is like MacGyver- combination of creative and optimism along with street smartness.
4- You’are obsessed with cash flow.
Money is one thing entrepreneurs are obsessed with. As they are starting up a business, they do not have a huge amount. When you first get started as an entrepreneur, expect that you won’t bring in a steady income for a while. Before founding Brainshark, a Waltham, Mass.-based developer of technology for business presentations, Joe Gustafson bootstrapped a venture called Relational Courseware and admitted that he used to always think about cash flow and liquidity.
5- You embrace your mistakes.
Let’s be clear- Everyone faces failures sometime or the other. It’s the failure that makes one successful or de-motivated(either thing you choose). However, embracing it and constant learning can reduce the risk of experiencing a failure. If you look upto your mistakes as learning guides and try to rectify it, then I’m sure you have a very important element of entrepreneurship.
6- You’re fearless.
You are not stumbled by various difficulties that come across your road. You always try to withstand them and win over. When most avoid risk, entrepreneurs detect potential, says Robert Irvine, chef and host of Food Network’s Restaurant: Impossible. Entrepreneurs are highly optimistic and believe that their money and time will eventually pay off. They try to take risks more than anyone else, and they are not afraid of it.
7- You can’t sit still.
If you are happy with achieving small small targets then entrepreneurship is clearly not for you. Entrepreneurs are always hungry for growth and prosperity. Mere targets don’t satisfy them. They are eager, excited and energized about business in a way that makes them stand out. Irvine who owns a restaurant in South Carolina, is opening another in the Pentagon and has a line of food and clothing products, on top of hosting his TV show can be a perfect example.
8- You’are malleable.
Rosemary Camposano, president and CEO of Silicon Valley chain Halo Blow Dry Bars, cautions that if you have only one accepted outcome in mind, then your chances of making it are slim. Malleable in a sense that you and your plan are flexible. Obtaining a strict path for your plan can be dangerous sometimes as per the market conditions. Smart entrepreneurs constantly evolve, tweaking their business concepts in response to market feedback.
9- You enjoy navel gazing.
Without the presence of any superior authority an entrepreneur must love navel gazing. Self-improvement should be your motto and it can be achieved by looking forward to feedback from those who work with you. Hearing customer’s complaints and fixing them are the ways you can improve your brand’s reputation. Have a contempt view about yourself and your business thoroughly.
10- You are motivated by challenges.
Nothing is insurmountable for entrepreneurs. When employees confront any problem, they try to play the ‘blame game’ or get out of the problem quickly. Entrepreneurs are totally opposite. Instead of running away from problems they face them and try to overcome them. They are people of strong will-power and leadership.
11- You consider yourself an outsider.
Entrepreneurs aren’t accepted by all. As a result they may not be selected and this is what makes them work harder than others. Entrepreneurs are marked as eccentric, opinionated , quirky and demanding, though there is nothing bad in that. Vincent Petryk, founder of J.P. Licks, a Boston chain of ice-cream shops claims that when his former boss didn’t approve of his off-duty research into ice-cream quality, he went out on his own to develop a made-from-scratch dessert in bold flavors. Rather than copying what most other ice-cream shops were doing, including buying from the same well-known suppliers, Petryk forged his own path. His early competitors? All but one are no longer in business.
12- You recover quickly.
It’s a popular notion that successful entrepreneurs fail fast and fail often. Entrepreneurs who have potential and work with persistence always recover quick comparatively. It’s the speed,that matters when you recover after failing. Just get up, don’t morn or crib about it, but move to the next big thing ahead.
13- You fulfill needs.
Entrepreneurs are truly associated with innovation as they detect the needs in the market. They are the ones who take a step to fix it or create a new genre analysing the market needs.
14- You surround yourself with advisors.
Entrepreneurs do not hire yes men, instead they try to get people on board who are motivated by his idea in the first place and who can contribute to make it a bigger success. Actress Jessica Alba, co-founder and president of Santa Monica, California based The Honest Company, that sells baby, home and personal-care products, notes that it’s important to surround yourself with people smarter than you and to listen to ideas that aren’t yours. She claimed to be open to idea that aren’t her’s and people that know more than her because she think success takes communication, collaboration and, sometimes, failure.
15- You work hard and play hard.
Entrepreneur would never give a no as an answer. They always tend to work harder. Entrepreneurs fall down and pick themselves up until they get it right claims Micha Kaufman, who snowboards and sails in addition to running Fiverr, the fast-growth online freelance marketplace he co-founded. Rather than focusing on number of potential challenges, Kaufman and his team focused on sole challenge which every marketplace has : building liquidity.
Even if these points seem easy and effortless, entrepreneurship is a ship that is always in danger of hitting an iceberg. Getting back up and standing on one’s feet is what makes an entrepreneur different from others. having read all the points, now I can ask a question…Are you an entrepreneur(at heart, if not at practice) ?
– Vatsal Doshi
- Watch Alia Bhatt’s Hilarious Response To Internet Jokes On Her Intelligence - August 27, 2014
- Interesting Facts About Google - August 27, 2014
- Amazing Tips For Your Next Rocking Presentation - August 27, 2014