Essential qualities of successful entrepreneurs

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It is important to ask oneself about one's own characteristics, one's own inclinations, desires and above all, it is important to ask oneself if one really wants to put into play.

In this article, I will show you what (in my opinion) are some necessary personal and psychological characteristics if you want to take the entrepreneurial path, highlighting some possible risks for each characteristic.

If you have the desire to create your business and become the boss of yourself, I hope this article will be a starting point for you and your future.

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1.   Self-confidence     

Let's start with self-confidence. 

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Self-confidence refers to a good personal solidity, the ability to believe in oneself despite possible difficulties or failures. Despite events or unforeseen events that may occur, despite things that will and will not go, trust is always maintained. Do you think you have self-confidence?

Ask yourself, “Do I always trust myself?”, “Do I strongly and deeply believe in myself and in my abilities?”

The risk that can occur is that maybe a person with too much self-confidence listens too little and asks too few questions. It may also be that this person tends to trust himself/herself too much and becomes a bit self-assertive and presumptuous.

Winston Churchill said: "Success is not final, failure is not fatal: what counts is the courage to move forward".

Think about this and move on to the next point.

 

2.   Positive outlook

This characteristic refers to what relationship you have with life, whether you have a more optimistic or pessimistic outlook.

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A person with a positive outlook can internalise previous positive experiences and think that he/her can find external help. The difference between self-confidence and the positive outlook is that the former refers to oneself, one's life and how you live with yourself; the second refers to how a person is towards others and life.

If you want to become an entrepreneur, it is very important that you have a positive vision of your project. For example, being positive in thinking that you will find suppliers for your project, or a suitable team that can give you good contributions.

The risk that can occur is that if a person is too positive, he/she could underestimate the external difficulties, such as the time to get the resources or think that it is easier than what it actually is, and even become superficial. If you want to be an entrepreneur, it is therefore very important to train your mind to identify all the things that could go wrong, not just those that are going well.

 

3.   Leadership

The third characteristic is leadership. 

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Leadership means personal authority, ability to communicate, ask and listen to others. A leader also has a high self-confidence, but also a capacity to represent a point of reference for the people participating in the project together with the leader and listening to the ideas of the other members who can enrich their own ideas.

There are different types of leadership in different situations. It is important that you ask yourself what your beliefs of others are, how you stand with others, when you involve others in your decisions and when you value their input.

The risk that can occur is due to becoming too authoritarian, too directive, even imposing their own decisions on the group on a constant basis. With this attitude, the leader tends to delegate little and to make all the decisions without valuing the work of the team and their contribution.

 

4.   Risk orientation

Risk orientation is the ability to take entrepreneurial risks, it is the ability to take risks, to decide what to do even if you do not have all the information you need.

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Ask yourself how you would behave in the event of a possible risk. Are you someone who after some analysis makes a decision and "gets on with it", or are you a person who does a lot of research and cannot take risks for not knowing what the future holds?

Do you sleep well at night or do you have too much anxiety?

The possible risk is due to the construction of the decision, or the reasoning that a person makes. If a person decides without evaluating multiple alternatives, he/she may have risked too much for the project and business. It is important to evaluate different alternatives and decide.

Another risk may be due to the adrenaline that manifests itself when you make a decision under stress. This can lead to having a great desire to decide and risk, rather than actually doing and getting to work.

5.   Open to the new

It is not at all obvious that we humans love new things and changes. Many of us are habitual and do not like to get out of the box. Being open to the new is linked to the desire to think that factors in life will change.

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A person with openness to new has the taste of imagination, creativity, to follow his/her intuition that leads to innovation and stepping out of the box. Do you consider yourself a creative person? What have you done in your life again? What do you feel when you do something new?

A possible risk can occur when there is an excess of innovation; this happens when you get so focused on creating the new that you forget about your market and checking whether people actually need your product.

It is important that before launching a new business you check your market, find the right target audience and build something people will love.

 

6.   Emotional hold, stress management

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A person with a high emotional capacity and stress management can manage difficult situations with more ease, predict in a clearer way and make better decisions. It is important to know how to recognise one's emotions and to be able to control oneself in different situations.

Ask yourself if in your everyday life you can manage your emotions and not fall into anxiety or fear.

The risk that can occur is to lead to excessive self-control, having little emotional involvement.

Emotions, even in entrepreneurial activity, are important and should not be neglected.

7.   Management of uncertainty

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Managing uncertainty is not easy.

A person able to handle uncertainty accepts the existence of ambiguity and then tries to avoid it or resolve it by being prepared and planning.

It is important to train yourself in identifying uncertainty, trying to understand when it is appropriate to change "course" and go in another direction.

Ask yourself if you are managing the uncertainty in a right way and if you could do differently.

The risk associated with this characteristic can be over planning, which can lead you to lose your true goal and focus on what may not be critical to your business.

These were some of the ingredients that I think a person should have to be a great entrepreneur.

Ask yourself if you have at least four of the characteristics described. If yes, start paying attention to the other three characteristics.

If you are unsure of your answers, ask help from your friends, family or other people who know you, so that you can have a great knowledge about you, your strength and your weaknesses.

Don't worry if your first business isn't going the way you have expected. You have to be persistent and don't give up so easily. Sooner or later you will see the results of your work and sacrifice.  

 

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