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15 Qualities of Successful Entrepreneurs

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It is my pleasure to welcome you on board on this entrepreneurial journey this week and I am persuaded that against all odds ,you will succeed!.Are you already an entrepreneur or you intend to be your own boss soon? Do you have what it takes to be an entrepreneur? It might be disaster to hurriedly assume such responsibilities, without clear understanding of what it takes to be a successful entrepreneur.

In one of my conferences, someone once asked me if it is possible for everyone to be an entrepreneur.Sincerely, it is not everybody that is cut out for starting their own business, even though everybody loves to be their own boss. I am glad to provide you with possible checklist to help you discover the business owner within or without you. Distinguished world entrepreneurs who have made name for themselves, no doubt possess common attribute which have granted them visible success. To be successful in today’s business world, there are highly ranked qualities you must possess as an entrepreneur or would-be wealth creator.

1. Desire to solve problems: you must have a strong Desire to solve problems. You will begin to succeed as an entrepreneur when the problems and challenges of others begin to matter to you. Your success depends on the problems you solve for others. Dangote solves construction problems, he produces cement,Mike adenuga solves communication problems with Globacom. School owners solve educational challenges. What problem are you solving or what challenges or gaps are you planning to fill?

2. Strong Passion: Do you have  passion and love for what you’ll be doing, and strongly believe — based on your findings, business plan, education, study and investigation that your product or service would fulfil a real need in the marketplace? If you start a business with sentiments, you will soon close it with burnt fingers.That they say a business is lucrative does not mean it is meant for your kind of person. Know yourself.

3. Physical Fitness: You are physically fit and possess the needed mental stamina to withstand potential challenges. Often overlooked, less-than-robust health has been responsible for more than a few bankruptcies. You see supposedly entrepreneurs with failed health conditions.starting your own business is a lot of work. This is where several retirees find problems.

4. Confidence and good Risk taking; this is the ability to have faith in once abilities to actualize goals. It involves exercising boldness and assuming responsibilities for business initiatives and risk taken. Self-confidence requires taking calculative bold steps on business ideas to maximize profit. So do you have the drive, determination, patience and a positive attitude? When others throw in the towel, are you more determined than ever? To have a lion share in life, you need a lion’s heart. If you don’t have a lion’s heart don’t expect the lion’s share.

5. You are not afraid of Failure: if you have resolved that Failures can’t defeat you, then you are on your way to wealth. Successful entrepreneurs learn from their mistakes, and use these lessons to succeed the next time around. Studies of successful business owners attributed much of their success to “building on earlier failures;” on using failures as a “learning process.”So failure is not final,they are school lesson in the hard way.

6. Self- reliance. This is the ability to exercise independent mind in taking decisions. You don’t have to rely on people to suggest and control your stand on business related issues. This might even arouse conflicting opinions which sometimes leave one indecisive and confused. Do you thrive on independence, and are you skilled at taking charge when a creative or intelligent solution is needed. How do you rate? Self reliance does not relegate professional advice and mentorship, but in spite of these resources you still need your own mind for final decision.

7. They are relational. You like — if not love — your fellow man, and show this in your honesty, integrity, and interactions with others. You get along with and can deal with different types of individuals. If you are not too good relating with others, you are about facing a huge hurdle. You cant do without people. Starting from suppliers to your workers, related agencies, clients, the list goes on and on.In this regard you must learn to relate well.

8. Committed to responsibilities. The success story of most entrepreneurs have always been associated with personal scarifies and committed to business responsibilities, this means less hours of sleep and sometimes unproductive investment of business hours. To become a successful entrepreneur, it must be business first before pleasure. You pay now and play later or you play now and pay dearly later, whatever the case you will always have both.

9. Professional approach to business; to make progress in business, there are certain business concepts that must be adopted. Avoid sentiments and treat your business as a separate entity from family and social relationship. Keep adequate records of income and expenditures and show disciplines in appropriating business fund.

10. Pressure management. The ability to handle multitasking responsibilities is a commendable virtue for successful entrepreneurs. This tenacity to cope and deal with several arising business issue as well as personal challenges of life, with much composure is a hallmark for wealth creation.

11. Mind-set for improvement. To be of relevance in the business world, you must take advantage of every opportunity to improve technologically and information-wise. To achieve a remarkable success in business, an entrepreneur must continuously adapt to influx of current trends in his line of business. Normally it starts within before it shows without. If you refuse to change you may be chained.

12. Competitiveness. Healthy competitive attitudes is one of the rare qualities for successful entrepreneurs. Competitiveness demand strategic creation of market for your products or services. It involves initiatives for withstanding business competitors and ensuring the sustainability and growth of your business. Can you stand all kinds of competitions?

13. Self-motivation; the best source of motivation and sustenance of your business enterprises is “self”. Business goals and sales target should form the basis for self-motivation.  Are you a self-motivated person?

14. Creativity and initiatives: these are continuous input of exceptional business ideas that are capable of disrupting market demand in your favour. Everything that exists in the business world today was once a conceived idea. Creative and innovative business initiative gives you an edge over business competitors. It places one at a greater advantage of marketing more sales than similar products or services already in the market.

15. Goal driven and focused; this entails determination and being persistent towards actualizing business target. This means being result oriented and exercising unwavering attitude toward preliminary set blacks. As an optimist, you see the opportunity in every difficulty and never accept failure as an option.

With all these you are sure to become a great entrepreneur with remarkable success. I do hope they will serve as a useful guide to you .I will like to hear from you again and again .Once again, note that this year you will be celebrated and not tolerated, so keep breaking records and keep succeeding like success.See you next week !

•Lapinni E Akinyemi is the author of  Rich Youth,Poor Youth- Becoming the next Billionaire and the Executive Director of World Changers Development Initiative, an NGO into Entrepreneurship and Leadership Development with the sole aim of raising  Change Makers and entrepreneurs as global asset . Contact 08036453724, E -mail: akinyebose@yahoo.com

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