Common characteristics of an Entrepreneur

Freelancing is becoming more attractive to individual expert these days and most of them want to be self sufficient or just taking this sector as adding extra earning to their monthly bank statement. But freelancers’ as an Entrepreneur is little different than so called freelancing. An entrepreneur, the character itself is more complex and they do have some identity that separates them from others.

Yes there are so many professional freelancers in the market, who are making money, and some of them are really shining in their own field, but it doesn’t mean they are successful entrepreneur. I personally know some experts in IT who works as part-time freelancer but they do not have the mentality which is needed to become a self driven identity that work for something new, innovative and encourage others to follow the way he made.

Well I cannot break down exact view but can discuss the common characters that an entrepreneur should have:

Etrepreneur

Entrepreneur

Innovative

They are innovative. Please do not mix innovation with invention. We often think that innovator is some sort of scientist who works all the daylong in his lab to invent something new to world. But the idea is to modify an existing concept in such way that is adopted by target groups and works for them.

For example MySpace came out before Facebook but facebook is more popular than MySpace, though both of these sites wasn’t the first SNS (social networking service) on web. Friendster was the orginal social networking site. But if we look at Mark Zuckerberg, Facebook’s founder and CEO, we can easily get the differentiate he made between services, an adoption by the people. Well there might be a debate about previous statement but I am just trying to explain the terms of innovation.

Workload

Workload

They Take risk!!

Essence of competition is that the outcome is uncertain, and hence the element of risk is the characteristic of entrepreneur is RISK TAKER. Doubtless they do have great degree of self-believe and they are self motivated and these qualities are essential part of makeup. If you have a look at corporation like big corporate, their attitude in the market is more or less same. Entrepreneur in comparison never lose their appetite for new challenges whatever it comes through. It might seem they are depending on their luck or they are just betting with control.

Entrepreneur are expected to be suffered and setback and failures as a part of the process. They follow the fundamental rules “higher the risk greater the return expected”. It often happens in majority that they do have ability to shake off failure and start with new venture from very beginning and whatever resources they do have. The simplification is they do not fear failure.

Head Heat!

Head Heat!

Workaholics

In any case work needs to be done. Sometimes it pays a lot but it is the believe they carry and that makes them different. They love work and they run towards goal forgetting other things. They do have capacity to work exceptionally hard and long. Well it is not stimulation for a short burst; it is the ability to work at same pace constantly. Moreover 24/7 working hours is quite less for these successful individuals.

Judgment and Management power

‘An excellent candidate’ will be the conclusion of such individual. An entrepreneur employ such people for them self who can constantly provide his needs. He knows how to get the work from them. They should have good people judgment quality. In many cases they can feel the pressure more than other and can take appropriate decision with proper calculation.

A self-disciplined entrepreneur recognized the need for the following:

  • Personal time management
  • Systematic communication with the key individual
  • Reliability of behavior
  • Moderation of style

The entrepreneur use very informal and direct lines of management in terms of business management. But to be a successful container he keep some other hands like professional trained managers with who take care of his lacking. He always maintains the strength of the working team constantly to insure productivity and development pace. Most of the time entrepreneurs are unconventional and untrained, which occurs problem with their management team to collaborate.

Summary

It may seem that I tried to find out the negative sides of an entrepreneur but I just explained the common characters of risk takers. To be successful an entrepreneur needs to succeed as a manager if he really needs to achieve his goal.

No related posts.