Page 123 - IT-802_class_12
P. 123

4.1.3 Qualities of a Successful Entrepreneur

            There  are  many  striking  qualities  of  a  successful  entrepreneur.  However,  the  following  qualities  are  regarded  as
            essential:

                                                           Initiative
                                                                          Willingness to
                                          Decision                         take Risks
                                        Making Ability
                                                                             Ability to Learn from
                                                                                Experiences
                                     Hard Work
                                                         Qualities of
                                                        Entrepreneurs          Motivation



                                    Business Strategy
                                                                                  Focus


                                                Sales            Communication



            Ð Ðinitiative: Taking the initiative is seizing an opportunity. To be a successful entrepreneur, one has to think and act
              proactively. It’s about going the extra mile and getting the task done, crossing all the barriers, complications, and
              risks to launch and maintain the business. Therefore, taking initiative is an important quality of an entrepreneur.

            Ð ÐWillingness to take risks: Taking risks requires enormous courage. Only an entrepreneur who is willing to take risks
              can proceed. It is not necessary that every risk taken will be fruitful, but taking a risk is the only possible option that
              can lead the business to its next level. It depends on the entrepreneur to lessen the risk that has been taken.

            Ð ÐAbility to learn from experience: The ability to learn from experience is one of the most important skills. In any event,
              setting, or even failure, entrepreneurs must have this skill or at least the desire to learn from their experiences. This is the
              only way through which they can minimise future risks and complications while still performing effectively in their business.

            Ð ÐMotivation: It is said that if a person is motivated, it will help him achieve his goals and maintain goal-oriented
              behaviour.  There  are  biological,  emotional,  social,  and  cognitive  factors  that  activate  motivational  behaviour.
              Motivation helps a person exert a high level of effort to achieve their goals.

            Ð ÐFocus: Focus compels an individual to be disciplined and stick to the main course rather than deviate from it. A
              focused entrepreneur can achieve much in less time. There are a few tips through which an entrepreneur can
              remain focused, especially in difficult times:
              i.   Talk to a business mentor
              ii.  Save time with better tools and software
              iii.  Remember to take breaks
              iv.  Reconsider the priorities
              v.     Just say ‘no’ when required

            Ð Ðcommunication: A successful entrepreneur must be able to communicate effectively. One can network with other
              people and expand their business by having good communication abilities. It is essential to maintain cool and
              communicate the necessary information to address the problem rather than react to the circumstances during
              challenging moments.

            Ð ÐSales: The soft skills, viz., communication and sales, go hand in hand and are sides of the same coin. An entrepreneur
              must be able to sell anything and everything. Communication not only helps in selling but also helps in handling
              scenarios that are tough.



                                                                                         Entrepreneurial Skills-IV  121
   118   119   120   121   122   123   124   125   126   127   128