Entrepreneurship is both the study of how new businesses are created as well as the actual process of starting a new business – the term is used interchangeably. An entrepreneur is someone who has an idea and who works to create a product or service that people will buy, by building an organization to support those sales.
Qualities of a successful entrepreneur:
Successful entrepreneurs possess huge doses of discipline. Discipline is important to stay focused on their objectives and vision. The process of building an idea into a business entails working on a lot of details — some of which the entrepreneur may not want to deal with — but it is a discipline that makes the entrepreneur work on completing every task. As an entrepreneur, it is easy to go off strategy, including the allure of not working (for home-based entrepreneurs, that mean sleeping or watching TV instead of working), and discipline keeps them on the right track.
Knowledge and Skill
Do you possess the relevant skill that can convert your idea into revenue? If you want to start a software developing company, you should understand the software business.
Work Overtime without pay
Yes, there is no 8 am to 5 pm anymore. Sometimes you will work till 1 a.m. to meet deadlines. I not also proposing that work-life balance is not important at this stage.
Self-Discipline? Time management, cost management is discipline issues in all types of business. Successful entrepreneurs are always conscious of time, spending and relationship management.
They hate playing politics
Entrepreneurs can’t stand playing politics–and to some degree, people who play politics. They don’t care about jockeying for promotions or trying to be “right” in a meeting.
The risk is an integral part of an entrepreneur’s life. You cannot always be certain about the outcome of every business decisions you make, most times you need to analyze the opportunity before you and make an optimal decision. A successful entrepreneur makes optimistic and rational decisions, they are charismatic, confident, and have the will to win. They can deal with complexity and are comfortable with uncertainty.
They see opportunities where others do not
Those who succeed in business have finely honed business skills based on their environment, education, experience and innate intuitive abilities. What sets them apart is their inherent sense of what is “right” for a business. They have the ability to spot opportunities for growth, with loads of courage to pursue these opportunities. They love the challenge of pitting their resources and skills against the environment.