What is Entrepreneurship? It's not what you Think!

And do you have the most of the characteristics to be successful!

What is an Entrepreneur

Entrepreneurs are all around us, we see them in our daily lives but they go by many different titles.  We all have heard of the big name entrepreneurs such as Steve Jobs- founder Apple, Bill Gates-founder of Microsoft, and Jeff Bezos the founder of Amazon. But, we have family and friends that are entrepreneurs too, I know that this might surprise you, so to prove my point I will first define what an entrepreneur is. Wikipedia defined as Entrepreneur as a person who organizes a venture to benefit from an opportunity, rather than working as an employee.  To clear the picture up a little more here’s a very small list of job that is entrepreneurial and you probably don’t think about it.

  1. Freelancer- A person that is self-employed and is not committed to a particular employer long term. Examples (Independent contractor, Temporary agencies, Fiverr, graphic design, translating, computer programming, web design)
  2. Uber Driver- You’re using your car, which means that you’re a private driver, which means that you have a business.
  3. Real Estate Agents- although a realtor works for a broker, they are really an independent contractor. The agent doesn’t get W2, they are treated as 1099’s which means that they are in business for themselves,
  4. Hair Stylist- Which includes barbers, work for themselves. Although they work at a particular location, they have to pay booth rent to the owner. So, they are also in business for themselves or an independent contractor.
  5. E-commerce store owner- Selling on Amazon or eBay, well your also a entrepreneur because of you’re in business for yourself.
  6. Child Caregiver- That family member or friend that you pay for child care while you work. They are also considered an independent contractor or entrepreneur
  7. Baker/Caterer- If you bake or sell food out of your home, then you are an entrepreneur.

I know that this list of people that are considerate entrepreneurs might surprise you. But, keep in mind that this is on a very small sample size  of the many jobs that you see your daily environment, that you never realized were entrepreneurs.

Entrepreneur Characteristics

Now, that you have a better understating of what is an entrepreneur. If you think that you’re ready to just the ranks of being a successful entrepreneur. Then you need to ensure that you have the right personality and attitude to meet this requirement. Here are 8 essential characteristics to be successful as an entrepreneur:

1.) Resilience – All entrepreneurs will face ups and downs while trying to achieve their dream. In order for them to be successful, they can not be a victim of the situation. They have to face the problem head-on and come up with solutions. Remember when you’re at one of your low points. “ You have to see failure as the beginning and the middle, but never entertain it as an end” -Jessica Herring founder and CEO of Stella & Dot

2.) Clarity of Purpose- This has to be the strongest characteristics of an entrepreneur, they have to have a big picture of what they want and where they are heading.

3.) Self Belief- You have to have to totally believe yourself! There will be periods of self-doubt, fear and self-esteem issues. When you’re going through this storm of doubt, this is when you have to be your own biggest cheerleader. Although it will be hard, never stop believing in yourself.  “The most painful mistake I see in first-time entrepreneurs is thinking that just having a business plan or a great concept is enough to guarantee success. It’s not. Business success is 80% psychology and 20% mechanics.” – Tony Robbins

4.) Continue to grow- This isn’t an option, this is a must-have! You have to realize that what you are trying to do is a first for you or it’s never been done before. In order for you to reach your goals, then you have to become a new you. You have to be always willing to add new and better tools to your toolbox. If this means going to conferences, read books or finding a coach or mentor.

5.) Focus- You have to know what is the most important things that you need to get done at any point in time. A good book that I recommend for any entrepreneur is Brian Tracy’s book Eat That Frog! This book will help you realize that you can’t do everything, but you must learn to focus on the most important tasks to grow your business.

6.) Problem Solver- Entrepreneur has to always have on their opportunity glasses. It doesn’t matter the situation or place if they are able to identify the opportunity can be something to improve their current business or it can be a future opportunity for another business.

7.) Creative- Everything starts with an idea, to be a successful entrepreneur you have to continually search for new and better ways of doing things.“The best businesses come from people’s bad personal experiences. If you just keep your eyes open, you’re going to find something that frustrates you, and then you think, ‘well I could maybe do it better than it’s being done,’ and there you have a business.” -Sir Richard Branson

8.) Passionate- Passion is essential to any entrepreneurs business success. Without passion, there is no reason to start a business, passion is the engine to what you’re trying to achieve. If there no motor than you then you don’t have a reason to be in business.

9.) Don’t Waste Your Time Avoiding Failure- You can not try to avoid failure to the point that it paralyzes you from making decisions.  Although you do need to walk the world of entrepreneurship with your eyes wide open, knowing that nearly  75% of all ventures fail within 10 years. The only way that you’re going to be successful is to get out there and make mistakes. When you make mistakes, you have to look at them as lessons. Once you have made that mistake then don’t make that mistake again. Remember the words of Thomas Edison “I have not failed. I’ve just found 10,000 ways that won’t work.”  When a thing gets bad, just remember this quote.

Now that you know what characteristics make up an entrepreneur are you ready to take the next leap?  If you are we invited you to review the next article in this series ( How to start a home-based business that will be successful”)