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With the boom in technology and the internet, there is an aspiration for most youth to become an entrepreneur. Being an entrepreneur starts with the idea of solving some problems and helping others. According to surveys, 90% of startup fails in their first year only. Thereafter, apart from a million-dollar idea, it becomes very important to know the key features ahead of the time. These features are discussed in systematically depending on the phases of any entrepreneur.
1. All Entrepreneurs Sail Through Uncertainty
In their early-stage, most of the inspiring entrepreneurs sail through uncertainties. They seem to be passionate about something and uncertain too whether it will work or not. Our society, financial situations, and relatives feed these doubts and questions in the mind. The first important thing is taking the risk to initiate something. Taking the first step is the first important thing, which makes the entrepreneur ahead and carries further. It is uncertain because they know that they are never going to lose and continue learning from mistakes.
2. Being Passionate
Being passionate is one of the most significant characteristics of entrepreneurs. Through the journey of entrepreneurship, passion is the one key factor, which makes entrepreneurs moving despite all the setbacks. An aspiring entrepreneur should only focus on the work and discard all the distractions and negativity coming along.
3. Being Persistent
Being persistent is the key to the idea of entrepreneurs to become reality. Everything takes time to happen. Players, athletes, businesspersons, or any successful had always prioritized persistence to be their best. By being persistent and doing the thing regularly, be it organizing, planning, creating, and discussing by meeting helps to build the trust and develop credibility factor for the people. Practicing persistence with your idea makes you the master in that. Eventually one day they become the consumers of your service.
4. Knowing Your Ideal Customers
For entrepreneurs, knowing their ideal customer is curtail to become successful. Most of the entrepreneurs struggle at this stage despite doing everything perfectly. Because, once you know your target audience, you can easily develop strategies, make planning to present, and make yourself visible in front of the right people effectively.
5. Being Action Oriented
There are many entrepreneurs, who just preach things. The things are theory-based, not action-oriented. This becomes a big problem for upcoming entrepreneurs. They should have believed in the idea, product, or service for which they are stepping into entrepreneurship. They should have to believe what they and saying and what they are doing. The idea they pitch should be coming from the bottom of your heart. Those impactful words should blow their mind and shake up the heart of the clients and customers.
6. Investing in Technology
Lot entrepreneurs stuck at some level after starting. The most common reason observed is they make the mistake of not investing technology. Investing in technology is very important for any startups to grow and efficiently manage the team. For example in today’s internet world people spent most of their time on smartphones. It becomes very important to learn, how to display your product or service in the smartphones used by the majority of people most of the time. Therefore, the product goes to the right audience in the right format.
7. Enhancing Skills by Up-Skilling
It is not very important to invest in technology but also important to upskill the team member. Technologies are improving and changing very fast. To sustain and grow it become curtail invest learning new skill regularly. It is just like sharpening the axe as a woodcutter dose. Depending on the sector and nature of the startup, the teams need to be upgraded and trained for the future.
8. Never giving up Attitude
The attitude to never giving up is one most important factors, which makes an entrepreneur successful. Most of the time many entrepreneurs give up very near to their goal and they even don’t realize that. Failure is natural but they never lose, either they learn from their mistakes and improve or they win. Because of this, sometimes the final output changes from the original one.
9. Being Prepared and Continue to Hustle
Nothing comes with a golden spoon. Change is not easy but it happens with continuous effort, dedication, and time. Hustling means the idea to be prepared for anything that ever comes one the way of entrepreneurship. It is vital to keep trying for new and innovative things regardless of fear of failure. Being prepared all the time to do anything that is required will lead you to garb the excellent opportunities. Since you never know what kind of opportunity, you might miss because of your lethargicness. As it is well said that “opportunities and the gift of God but only for those who avail them”. Many people don't even realize that an opportunity has come and gone back.
It the developing the attitude of thinking that, this is worth doing just go for it and do it now. because as for a human mind if we start thinking more about the particular things we start focusing more on the negatives than the positives. This is all about being initiators and action takes.
10. Fake it Until You Make it
Faking it does not mean that one has to cheat someone. It is all about making your mind fool and playing with your subconscious. It is about building a strong belief with all the team members that, things are going to be good whatever the circumstances are.
If something, go wrong doing the right thing whatever needs to be done and dealing with the situation bravely rather than dwelling over the mistakes and worrying about the mistake. Because as an entrepreneur in front of your team members as leaders you have to motivate them to do their best even if you are going through a state of depression and difficulties. Since you are the engine and your team members will follow you.
To be a successful entrepreneur, you must build a team of people experts in a different area, and split the task and responsibilities accordingly. For example, if you start with an innovative product start-up then there should be one expert from each area in manufacture and production expert, accounts and financial expert, marketing, and sells expert, support, and logistic expert, etc.
These points are worthless until implemented. As an aspiring entrepreneur, you must be having some of these qualities, and the qualities you don’t have you must try to develop them to be successful. These characteristics will not only the entrepreneurs but also individuals and professionals to excel in their workplace. There are many other characteristics, which make an entrepreneur successful but these are the undeniable one.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2020 Abu Talha Sohail
Sayeed on September 29, 2020:
The way you explain the thing are really awesome for understanding the current and future perspective.