The Six Must Have Elements of a Great Entrepreneur

The Six Must Have Elements of a Great Entrepreneur

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As an entrepreneur you have to have a million and one skills, abilities, knowledge and experience, it is really feasible to think you as one person can do it all?

Making the move from the constraints of “a job” and your terrible boss, to choosing when, where, with whom you work seems like paradise; but like my mum always told me, “if it seems too good to be true, then it usually is.”  Being an entrepreneur is by no way an easy choice, nor is it for everyone, but to give yourself any change of success you must have six key elements.

1 – Time management – Even working 18 hours a day, seven days a week, will not ensure your success if you are getting distracted with this, that and the other, each and every day.  Especially as most entrepreneurs start working from home, you have to be disciplined with your times and your activities.

2 – Self development – Starting a business everyone is short of cash, prioritizing where you spend is hugely important, but knowing your personal strengths and areas that need work, is vitally important.  Finding a suitable mentor who has successfully walked the path you want to walk can save a huge amount of headaches, anxiety and wasteful spending.  Be teachable and a sponge, learn along the way.

3 – Team player – This may seem strange as most entrepreneurs are sole traders or small business, but as mentioned before one person cannot be master of all, you need to build a business network and find like minded and supportive people.   Exchanging information, ideas and calling on mutual strengths is very cost effective and productive.

4 – Your business – Get your idea/message/client group clear in your head and stick to it, one size does not fit all.  Finding your niche, is your gold mine, get focused and build your road map to your destination.  Know where you want to be, in how much time and work your route out.  Stick to SMART goals (Specific, measurable, attainable, relevant, time bound).

5 – Be professional – Never, get friends, family or acquaintances to do major elements for you in your business as favors.  It may seem a great idea at the time and save you some money,  but it will cost you dearly in the long run.  They are not motivated by your business, they are not accountable if they are doing you a favor and many relationships have been broken and lost this way.

6 – Be accountable – Again, you may think I am in my business, I am the boss, I do not need to answer to anyone.  Nobody builds a business alone,  you may not have a board of directors to answer to, but you should use your mentor to keep you on track, be creative and help you stick to deadlines, if not your business will not survive very long.

Entrepreneurs are the cornerstone of our very mixed societies these days, there are more support systems and organizations in place than ever before, but none of them will ensure your success, you are the only one that can do that.

Personally I do not know any entrepreneur that has not taken some knocks, losses and known defeat, what makes them keep coming back for more?  Their dream, their desire to make a difference, financial freedom for themselves and their family, the prospect of what is possible, all are great reasons, but the reasons of others do not make you get out of bed in the morning, only your dreams and your reasons can do that.

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