ENTREPRENEURSHIP

Qualities That Make An Entrepreneur

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Entrepreneurs are known to possess some special qualities, these qualities are the reasons they can survive the rough terrain of entrepreneurship.

GOAL SETTING: This is the first step; here, your goals are put into writing in the form of a plan.

SELF CONFIDENCE: An entrepreneur should believe in his or her ability.

Example: From my earlier post, ” Bako the Young Entrepreneurs “, Bako believed in his ability to run a palm kernel business even as a young boy.

RISK-TAKING ABILITY: Business involves taking some calculated risks.

Example: From the story, posted earlier, Bako took some risks when he ventured into palm kernel business at a very young age, even without having a deep knowledge of the business. That was indeed a Risk!

šŸ”¹INTELLIGENCE: Entrepreneurs should have the ability to recognize businesses or investments opportunities.

Example: From the story of Bako, posted earlier; the young Bako was intelligent enough to have recognized a money making opportunity, while most of his mates were still playing around.

šŸ”¹CREATIVITY: Entrepreneurs should always think of simpler, better, and more convenient ways of doing something.

Example: A better version of old Facebook is Facebook lite.

šŸ”¹PROBLEM SOLVING: Entrepreneurs are problem solvers, and value givers.

Example: Google is a search engine which helps people find information online.

Thanks to Larry Page and co.

šŸ”¹GROWTH MINDSET: An entrepreneur should be broad-minded. Example: From Bako’s story, earlier, while in the village, he identified and ventured into palm kernel trading, and when he got to the town, he identified another bigger business opportunity in ICT.

šŸ”¹DECISION-MAKING ABILITY: Entrepreneurs should be able to make and take bold investment decisions. Bako invested in businesses and stock.

šŸ”¹NEGOTIATION : Entrepreneurs should be smart business negotiators.

Bako was able to negotiate his way into his first business.

šŸ”¹MANAGERIAL SKILLS: Entrepreneurs should be skilled at managing people, time and money.

šŸ”¹RESILIENCE: Entrepreneurs are not expected to give up so easily.

Example: The founder of Konga (the first online store in Nigeria). He attempted about five online businesses, before his final breakthrough.

šŸ”¹FINANCIAL LITERACY: Every entrepreneur should have some basic knowledge of investments, assets and liability.

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