The race of Entrepreneurship is not for the swift. There are certain qualities every entrepreneur must possess. Some of those qualities may be inherent while the other qualities can be developed over time either through training or by experience.
This is the reason why learning is extremely important in the life of every person who is willing to succeed in their business. You cannot rely on experiences and abilioalone, you still need to be taught certain skills that can help you in the market place by other successful entrepreneurs.
These qualities may what people who are willing to invest in the business or partner with you look for when you pitch your business to them. It’s far beyond what you say, so many times, the success of your business depends on the qualities you as an entrepreneur possess.
Already deciding to start up a business shows that you are willing and passionate about it. After that, you will need funds to sustain the business. Pitching your business to investors is not exactly easy, some of them will look out for these qualities.
1. VISION – It’s is important that as an entrepreneur, you have a clear vision of where your business is going. You must be conscious of where you intend your business to go and how you plan to get there. Don’t just go with the flow, and don’t be passive about your venture. Have a business goal and put strategies in place that will help achieve them. This vision is what you talk about first when pitching to investors.
2. CONVICTION – This is about having a strong belief in your enterprise. As an entrepreneur, if you don’t believe that your business is viable, then you will not be able to convince other people that it is. Lack of conviction equals lack of input and your business cannot grow beyond your input.
3. CAPACITY – Do you have the capacity to run a business? Running a business involves taking risks. If you are scared of risks, you had better think twice about entrepreneurship. If you don’t not have a great health and you’re currently jumping from one hospital to the next, think twice again because you have slim chances at succeeding. Also, ask yourself if you have any professional or life experiences that can help you succeed. Do you have a competitive spirit? Because business is all about competition.
4. HUMILITY – An overconfident and boastful entrepreneur will not last in business. Nobody likes a blowhard. In the market place, humility is one of the currencies of exchange. People love to partner with someone they perceive as loyal and trustworthy. Be honest with yourself, your investors and employees, communicate any challenges you face at any point in time.
5. DELIVERS – A good entrepreneur delivers on his promises. Their 9 am is 9 am. The first thing you need to learn as an entrepreneur is to hold true to your word. It is better not to make any promises than to make promises and not fulfill them. It is better to under promise and to over deliver than to do the opposite.
6. PASSION – Successful entrepreneurs are passionate about their business. Passion is what keeps you going when it seems like the idea is going to fail. Doing business should be a passion and not a struggle for you. Do you have a natural flair for business? You must be enthusiastic about it. Passion is what keeps you going in the face of challenges.
7. ORGANISED – Are you organised? You probably look down on organizational skills, thinking that you’ll get someone else to do it for you. If you want your business to succeed, you must be organised. What makes you qualify as a successful entrepreneur is your ability to organize your life. This quality is probably the most important of all. You must be able to keep records, and plan your business in a very effective way. You should be able to have ten year records of your business and keep relevant documents in place while running a business.