The economist Joseph Alios Schumpeter while talking about successful entrepreneur traits, said:
“Entrepreneurs are not necessarily motivated by profit; they regard it as a standard for measuring achievement or success”.
Here are eight entrepreneur traits that will make a better startup businessman:
1. Enjoy what you do
Let’s take the most important thing first; find your true passion!
We can only be great at things we enjoy the most! Same goes for entrepreneurship; passion is the greatest contribution in an entrepreneur’s life. Do the enjoyable work and keep on trying new things along the way.
2. Plan Like a Pro
Planning is the most important for new entrepreneurs; we must know about new researches in our domain and analyze the business situation accordingly. What is our goal and how can we achieve it should be the part of planning.
Planning doesn’t necessarily ensure perfect results. No! An entrepreneur’s life is full of risks and bumps! And we should be ready for that. Planning simply makes our path more defined more clearly. Having a plan B is an equally good idea.
3. Whatever you do, Take it Seriously!
Firstly think about the tasks, think about the type of business you can operate successfully and can sell better. People who start work from their homes often get much more success in the business world and make a good income in a single year. But that doesn’t mean you can be lazing around all day and still get the best of everything. Working from home means more dedication and determination provided the enormous number of distractions at home. Work with complete devotion and take it seriously in order to become a good entrepreneur.
4. Read Newspaper and Watch NEWS on TV
Watching business news daily and keeping an eye on the latest developments in the industry is one of the entrepreneur traits that ensures success in no time! By keeping abreast of the new trends we get new ideas about our own business!
Also, make sure to know your competitors inside out.
5. Know about the Sales
No matter if you own a corporate business or running a business at home, you must know about marketing and advertising. Get the review from your clients about your products or services. As, the ups and downs in the business are based on customer in the market, being vigilant about their needs is the best shot!
Remember the golden rule of marketing:
“People do not like to be sold to!”
When an advertisement on a social media platform or a website is seen with the words “BUY NOW” or “DOWNLOAD NOW” or similar people tend to feel they are being forced into buying! So, be polite, let them know the benefits they can harvest from your product or service in order to gain trust!
6. Manage the Money
Start your business with a small investment. Once a firm base is established, you can start investing in marketing and other business growing strategies. Next step can be to hire a wise manager who invests your hard-earned money on the safe businesses and spends on your business wisely, too. When hiring, pick a trustworthy person, especially for startups.
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8. Build a Solid Reputation
Having a small budget doesn’t necessarily mean that you have to hire uncompetitive resources or have a cheap marketing strategy. There are always resources that are willing to carry out small budget tasks for the sake of experience. You may hire a freelancer with a good reputation, for a start.
Failing to build a reputation is means a total failure of attracting high paying customers. Out of all the entrepreneur traits, making reputation doesn’t come through experience or your grades in high school. It comes with honesty; trust is then a sure outcome. If there is strong trust relationship, selling products or services then becomes a piece of cake.
9. Take care of yourself
Reduce stress, clear mind and focus on the business. Sleep well overnight, improve your thinking and increase your stamina bit by bit (trust me Facebook did not hit a billion users in the first month). Value your time! Knowing the worth of your time is one of the most important entrepreneur traits. Utilize your time efficiently and stop working when your productivity gets too low, it’s a signal that you need a rest! Find out how I increased my work capacity by 45% here.
10. ‘Human’ Traits are Still More Important than Entrepreneur Traits
Remember that in an urge to gain the best entrepreneur traits, we must not quit being a best human being! We must still be there for our parents, siblings, spouse, kids or employees in the best possible way.
Want to learn from the successful entrepreneurs? Here are top 6 interviews that are surely gonna help you in being better at what you do: 6 Ideas. 6 Lessons. 6 Reasons not to GIVE UP!
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