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15 Completely Vital Entrepreneurial Qualities

15 Completely Vital Entrepreneurial Qualities

Many, if not all, of us would much rather work for ourselves than someone else. However, being your own boss and sustaining your own business or products, is a challenge not all of us are ready to face. So, what does it take to truly stand out and be successful? Many current entrepreneurs have plenty to say on the topic, and others simply live by the habits one needs. To get an idea for the qualities you could cultivate, we gathered 15 absolutely indispensable entrepreneurial qualities.

You Have Passion

Passion is easily the most common of the entrepreneurial qualities. Whether you start off rich or poor, educated or not, every business leader must be passionate. Even if you’re starting off in an area you feel is not your calling, it is crucial you follow through with your goals with passion. Take Cameron Johnson for example, a multimillionaire entrepreneur who made his money creating websites.

“I realized after the printing business, as I moved on to other businesses, that it was a real passion of mine and I knew it’d guide me in life”, he says. Embarking on being an entrepreneur in any business will involve incredible levels of competition, and passion is often a deciding factor in pulling ahead. 

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    You Work Hard. Very Hard.

    Plain and simple, hard work is another completely pivotal ingredient to true success. While some breakthroughs might require timing or well informed decisions, nearly every challenge you face as an entrepreneur will require hard work. Don’t be afraid to truly immerse yourself in your goals, and get your hands dirty.

    You Are Confident

    Along the way to success, you are undoubtedly going to run into naysayers. Regardless of how intellectual or persistent your detractors are, an entrepreneur keeps going. Even if there are bumps along the road, confidence in an idea is among the crucial entrepreneurial qualities.

    You Persevere

    Hand in hand with confidence is perseverance. Another indispensable entrepreneurial quality, an entrepreneur must persevere under all conditions. Challenges are sure to arise on your way to success, but the ability to overcome them will set you apart from the rest. Entrepreneur Jan Koum, for example, is best known as the creator of WhatsApp, which was acquired by Facebook for $19 billion. Jan created the app at age 33, but first had to overcome a childhood of scarcity in the Ukraine. Additionally, after going to university, Jan was rejected from working for Facebook, shortly before creating WhatsApp. This is proof that working through difficult circumstances often comes immediately before success.

    You Keep Your Mind Open

    If you are looking to cultivate entrepreneurial qualities, another necessary one is open-mindedness. Often times, entrepreneurs’ most successful ventures come from unexpected sources. As an entrepreneur, you need to be willing to look outside the box.

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      You Have Courage

      Sometime the challenges entrepreneurs face are downright terrifying. In order to succeed in an uneven, ever-changing atmosphere, entrepreneurs must be able to pursue good ideas and decisions, even when their gut screams no. Being able to overcome fear is a sometimes daily skill an entrepreneur must use.

      You Are A Forward Thinker

      Much like keeping your mind open, another crucial entrepreneurial quality is forward thinking. To be successful as a leader, one must pursue ideas that bring them into the future. Once a need is obvious, other businesses will be eager to fill it. By thinking into the future, entrepreneurs identify opportunities before others. Self-made mogul Jessica Huie, for example, felt typical card companies ignored racial diversity. She created a card company to fill the gap, and quickly found success. By identifying a need others didn’t see, Jessica moved forward. In pursuing opportunities first, an entrepreneur can start a step ahead of competitors.

      You Ask For What You Want

      Whether it’s an improved contract or a start up investment, entrepreneurs eagerly go after what they want. Don’t wait around for others to show interest in your ventures, entrepreneurs go after what they need. An entrepreneur must know what will drive their business forward, and actively pursue it. As an entrepreneur, by simply asking for what you want, you will be more likely to find it.

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        Vision

        Along with being forward thinking, entrepreneurs tend to have a strong vision. By knowing what you want, from beginning to end, you will be better able to break your venture down into achievable steps. Having a strong vision will also help inspire the people who partner with you and work for you. Just as crucial to a business’s success as a leader who knows where they’re going, are employees who eagerly pursue the dream too. Vision, and committing to your vision, are important entrepreneurial qualities.

        You Are Flexible

        Flexibility is another crucial entrepreneurial quality. As anyone knows, things don’t always go as planned. This is especially true in business, as leaders and entrepreneurs must be able to adapt. When something unexpected throws a wrench in your venture, an entrepreneur is responsible for getting things back on track. If you are willing to compromise and quickly adapt to new situations, you will be more likely to keep small bumps in the road small, instead of growing them into failures.

        You Can Throw Out the Rule Book

        While learning the rules is often the first step in becoming an expert, a successful entrepreneur knows when to break them too. A healthy disregard for the rules can sometimes make the difference between success and failure. Colin Thornton, a South African entrepreneur, started his successful company after dropping out of post-secondary school. Colin didn’t let leaving school hold him down however, and is now worth around $10 million. By ignoring the right rules when the time comes, you may be in a more advantageous position.

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        You Are An Expert At Money Management

        No business or venture can be successful if more money is spent than earned. It’s absolutely necessary then, that an entrepreneur can manage money well. Especially if an entrepreneur is starting out with little funding, it’s likely a professional accountant will be too expensive. If you’re trying to improve your entrepreneurial skills, money management is a necessary key.

        You Study 

        It doesn’t matter if you are formally educated or not, an entrepreneur never stops learning. The better a person is informed, the better their ability to make strategic decisions. Whether you feel knowledgeable about your venture or not, new developments happen every day. Keeping utterly up-to-date on new techniques and competition is often the difference between moving forward and falling behind. Studying is another one of the crucial entrepreneurial qualities.

        You Immerse Yourself in New Technology

        Oftentimes, the best entrepreneurial opportunities lie in emerging markets, where there is less competition. Pulling ahead of the pack is often best achieved by concerning yourself with new technology. No matter the industry an entrepreneur pursues, there is undoubtedly new ways of doing things. Experiment with new technologies to deliver your business to your customers if you want to gain an edge. 

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          You Are Ambitious

          Ambition is another essential entrepreneurial quality. Not only will ambition bring you new opportunities, ambition is crucial for overcoming challenges. If you don’t have established goals as an entrepreneur, you are more likely to grow comfortable and settle for surviving, instead of thriving. Ambition is an entrepreneurial quality that provides momentum to your ideas and passion. Let your drive move you forward, and there’s no telling what you can achieve.

          Featured photo credit: Philippe Put via flickr.com

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          Alicia Prince

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          Last Updated on August 16, 2019

          15 Smart Ways to Approach Interpersonal Relationships at Work

          15 Smart Ways to Approach Interpersonal Relationships at Work

          Once you have embarked on your professional life, whether it is after college or high school, you will be making a transition to the workplace. If possible, it is good to find an employer that is flexible. In other words, one that possesses a culture that is diverse and tailors to the needs of its employees as a bottom line.

          But, even if you don’t land your dream job right away, there are many ways to improve your experiences within the workplace as you climb the career ladder.

          In the subsequent sections will be looking over ways to engage your relationships at work, including 15 ways to effectively approach interpersonal relationships at the workplace.

          1. Open Up Cautiously

          Depending on if its a startup, a small business, enterprise or corporation it’s important to be aware of your surroundings.

          Be mindful of how much you open up about yourself, specifically regarding your personal life. You do not want to give the wrong impression, so be careful how much or what details you divulge about being in a relationship or having children.

          You have to reach a certain comfort level and rapport with the rest of the staff to be able to engage in transparent conversations. A good general guideline is to stick to small talk.

          2. Observe Your Surroundings

          There will be times when we are summoned to have a leadership role or to undertake a project to lead a team.

          Try not to be too bold or overcompensate at every turn when there is a meeting or an interaction among other staff or employees. The last thing you want to do is to be the person who wants to monopolize every conversation and every interaction.

          Be a passive observer at first, and more often than not, you will learn a lot by letting others talk a lot about themselves.

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          3. Listen Actively

          It may seem redundant, but it is essential to practice the art of really listening to the other person.

          Developing interpersonal skills and connections with others at work comes down to listening. It is not just paraphrasing what your superiors or colleagues are trying to communicate; it is about understanding what is at the core and reading between the lines.

          Phrases like “I can see what you are saying” or “I can acknowledge your insight” are just some examples. Learn to empathize and relate with people with whom you have a genuine connection.

          4. Consolidate All Feedback

          When you learn to listen to others and to allow them to finish their thoughts you are on your way to be being a great communicator.

          One of the toughest tasks to accomplish is to include everyone’s voice. Don’t rely on shout-outs or trying to come up with the best answer. Including everyone’s voice is about listening to all suggestions and putting together an entire picture. When everyone feels part of the process there is great cohesion.

          5. Never Make Sweeping Judgements

          As person and a human being with compassion never make any assumptions about anyone.

          Just because they have a certain skin color, clothes or physical features, never make stereotypical or generalizations about anyone.

          6. Keep Emotions in Check

          Work-related stress is something we all have to deal with at some point or another. Whether you work in the public or private sector you will encounter stressors or stressful co-workers. In this case, it is good to keep open the lines of communications.

          Always ask to clarify how a person feels and where they are coming from. It is better to entertain these conversations before they make a person lash out or have a negative reaction. Ask to speak privately and get feedback. When you do this it really shows you care about what your role is and that you are a true professional.

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          7. Give Help to Others

          Having compassion and empathy for others is a noble attitude to practice.

          Though, do be careful about how much you want to get involved with colleagues at the office; it could jeopardize the nature of your work relationship and the roles you both have.

          It’s best to separate the personal from the professional and lend a hand by using your best judgement.

          8. Broaden Your Horizons

          Once you have worked in a company or an organization, things can get repetitive and dull. Sometimes we need to remember that we are human and need to fulfill certain responsibilities.

          Often we want to try to change things by introducing our best abilities or perhaps our inventions, but we need to be realistic. Change does not happen overnight, rather it is a long process.

          Step back and take a look at the big picture, and, put all your cards on the table to get perspective. Sometimes we approach situations in life from the wrong point-of-view.

          9. Be Optimistic

          This is probably one you have heard time and time again.

          When we suggest to have a positive attitude it does not mean to fake it until you make it, nor to conceal your feelings. This is not the case in this situation. Overall, you want to try to be authentic in how you are feeling, because life will throw curve balls that are beyond our control.

          10. Be Sensitive to Cultural Norms

          Whenever you are around other people within a professional workspace, do not make assumptions in trying to figure people out in an instant.

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          Some cultures discourage physical contact, while others may be inviting. Always be courteous, respectful and ask questions. It will not only make you more aware of others’ needs, but show that you are considerate of the differences.

          You do not want to get off on the wrong foot by being too friendly or too touchy. Just observe how people respond to your approach and let them lead the way of what is a safe practice to meet and greet the first time around.

          11. Show Professionalism

          How you interact and carry yourself around others will be the difference between a job promotion or losing your job. No matter what, always respectful and professional towards others.

          You will have an opportunities in life and at work, so showcase an outpouring of great and positive energy in the face of adversity.

          12. Get Involved with Activities

          When you are part of a company, there are often opportunities for organized activities outside of the office space.

          Sometimes it is worth exploring uncharted terrain and to get to know people in a different environment. Plus, you will have an opportunity to be seeing in a different light.

          Even though you are off the clock, keep your professional tenure and set boundaries. You want to be vulnerable, but not put yourself in a comprising position. Use your intuition and common sense to evaluate these situations.

          13. Get to Know Your Company

          With your smartphone or your laptop, you have at your fingertips a mine of information online. Just as you would do before a job interview, conduct ample research to get familiarized with what your company does and how its branding is perceived via the media or social networks.

          Rather than just focusing on doing your job and fulfilling the duties, see what the business is up to. It is fundamental to really know what organization you belong to. Get educated on what other ventures they are involved with as well as the ones that you are directly in the know about.

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          14. Learn to Problem Solve

          Problem solving is going to be a skill you will acquire with experience and by making mistakes. Furthermore, not only will you make mistakes but you will likely also sometimes fail. This is okay and is part of the natural swing of things!

          Learn to take responsibility for your actions and decisions. At the same time, do not blame others for coming up short. When you come forward with the truth and responsibility, your supervisors or superiors will take notice of your authenticity.

          One of the greatest gifts in life is fail and once you experience you start to get a different perspective on how to move forward at the job.

          15. Do Some Prospecting

          If you have coding, computer, language or other beneficial skills, be sure to pitch these at the right time.

          When you start out new at a company it is best not to show all your cards. It is like poker: don’t let others see if you believe you have the upper hand. Take time to get familiarized with your company and organization before promoting your outside skillset.

          You will know when to put forward your amazing talents, so proceed with caution.

          Conclusion

          Learning to refine your interpersonal skills is a lifelong process. In time, you will also became more effective and skillful after accumulating work-related experiences.

          Exert humility, understanding, compassion, and mindfulness and the rewards will come!

          Featured photo credit: Brooke Cagle via unsplash.com

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