Entrepreneurship involves starting and running a business.This begins with deciding on a business idea to embark on.A business idea can be developed by identifying a need and trying to meet the need.To do this,you can either be creative and innovative;that is,bringing up a non-existing,new and original idea and solution to meet the need or by being adaptive,that is,looking for a new way of using an already existing idea to meet a need.There are a numbers of skills and qualities,apart from your academic or professional qualifications,that you need to be successful as an entrepreneur.Here are some of the important ones:
Running a business involves taking risk.To be a successful entrepreneur,you must be ready and willing to take risk.However,this does not mean taking “a leap in the dark”,that is a “blind” risk,but a well calculated and though-out risk.Knowing whenand how to take a riskis a very crucial skill that a would-be successful entrepreneur must have.
Having dreams and aspirations without actually rolling up one’s sleeves and taking actions to ensure that the dreams are realized foolhardy.Vision without action is a mere illusion.A successful entrepreneur must know what necessary actions to take to make his business succeed and must be ready to take these.In other words,he must work to succeed.
It can be relatively easy to think up ideas and it may be easy to start.However,it is not so easy to continue to take actions day after day,especially if success is not instant.Successful people often demonstrate a high level of commitment and persistence.It is the staying power that counts.
A negative outlook on life is a disadvantage and discouraging factor.Successful entrepreneurs must have a “ can do” attitude and see opportunities where others only see problems.
Enterpreneurs take a lot of satisfaction in setting and reaching goals.You must write down your goals,check them daily and regularly review them until you achieve success.
One can only help himself by helping others,which includes providing people with a service they need.Think of your customers’ satisfactions first and hold them dear.
Enterpreneurs are not just movivated by a desire to earn a living.They usually have such an interest and passion for their line of business that they derive satisfaction doing them.To succeed, you must love what do.
Things change rapidly.Successful entrepreneurs must br willing to overcome mistakes,meet new changes.This can mean a difference between failure and success.
Having Marking Skills
In business,as the saying goes “Everything is marketing” .The world cannot and will not beat a path to your door to buy your product if the world doesn’t know about it.Regardless of what business you are in,marketing is the critical tool used to present the solutions that your products and services have to offer to the rest of the world.
Upholding ethics and morals
From the onset,you must define what you and your business will stand for and what lines you will refuse to cross.Many entrepreneurs run into trouble because they place profitmakig over morals.If you stray too far from your morals you will give yourself and your business a bad name.
Good time management
Schedule your day and stick to your schedule.New entrepreneurs need to realize that every minute is valuable.When first starting out,most likely you will not enough “work” to fill a day.Utilize this time to learn more skills related to your business,find ways to advertise and contact potential clients.
Good Financial Skills
In business, a proper knowledge of finance is a must.Knowing how to cost a service,track expenses,balance an accountand keep track of numbered invoices are all most small businesses need to start Entrepreneurs must know acceptable means of sourcing funds and profitable management oof such funds.