Entrepreneurship for the Potential Entrepreneur

An entrepreneur is a person who undertakes the risks of starting up and operating a business. Entrepreneurs provide new goods or services that will meet people’s needs and wants, or solve their problems.

In essence, entrepreneurs solve meaningful problems. This is only possible by having the right mentality, determination and by delivering an excellent execution. In fact, in business, execution is everything.

Confidence is another hallmark of the entrepreneur. Potential entrepreneurs also need to be passionate about learning. They must be keen about seeking out information, quick to learn from past mistakes, and ask questions with a view to learning all the time.

Potential entrepreneurs must take responsibility for their actions. They must own their actions and the consequences of those actions. However, an effective entrepreneur also knows when to delegate.

Potential entrepreneurs need to be dedicated. That single-minded dedication that keeps hammering at the same goal because it is committed to a positive outcome and ready and willing to do what is necessary. Hence, the need to dedicate themselves to their plans, visions, and dreams. They must have the tenacity of purpose because the lack of focus is a major reason why many fail.

Potential entrepreneurs also need to be good communicators. They have to develop their ability to listen because the best communicators are also the best listeners. Communication is the key to successful relationships, so, they need to work on their communication skills, whether written, spoken, or nonverbal through body language.

It is important for potential entrepreneurs to be team players. Team players know how to succeed by working in partnership with others. Within that context, it is equally essential for potential entrepreneurs to be system-oriented because good systems repeatedly produce great results. In essence, the potential entrepreneurs must look for system-based solutions before searching for human resource solutions. This way a business is secure regardless of any future staff changes. 

Finally, the potential entrepreneurs must not be afraid of taking risks. Indeed, entrepreneurs are not immune to fear, but they prioritize their approach to life so that the fear of failure, frustration, boredom, drudgery, and dissatisfaction, or even success, don’t become debilitating.

 

Published by

Dr. Deji Daramola

Dr. Deji Daramola is a Canadian based Family Physician with training and expertise in Family Medicine. He also has an MBA and a Doctorate in Strategic Leadership. www.drdarams.com