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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

          A writer, filmmaker, and artist who shares about lifestyle tips and inspirations on Lifehack.

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          Last Updated on March 31, 2020

          How to Use Visual Learning to Work More Effectively

          How to Use Visual Learning to Work More Effectively

          Knowledge is essential to become successful in life, your career and your business. Without learning new concepts and becoming proficient in our craft, we cannot excel in our chosen careers or archive knowledge to pass down to the next generation.

          But content comes in various forms, and because how we learn influences how much we know, we need to talk about learning styles. This article will focus on how to utilize visual learning to boost your career or business.

          The Importance of Knowing Your Learning Style

          Knowing your learning style enables you to process new information to the best of your ability. Not only does it reduce your learning curve, you’re able to communicate these same concepts to others effectively.

          But it all starts when you’re able to first identify the best way you learn.

          As a college student, I soon figured out that taking online courses without visual aids or having an instructor in front of me led to poor retention of concepts.

          Sure, I got good grades and performed excellently in my online exams. However. I discovered that I couldn’t maintain this performance level because I forgot 80 percent of the course content by the end of the semester.

          There are several types of learning styles known to mankind. To give an idea of how visual learning stacks up against other learning styles, here’s a brief mention of some of the different types of learning styles we have.

          The four most popular types of learning styles are:

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          • Visual learning style (what this article talks about).
          • Aural or auditory learning style (learning by listening to information presented).
          • Verbal or linguistic learning style (learning that involves speech and writing).
          • Tactile learning style (learning by touching and doing)

          But for the purposes of this article, we will be focusing on using visual learning to boost your career or business.

          How to Know If You’re a Visual Learner?

          When it comes to boosting your career, business (or education), a visual learner is one who would most definitely choose shapes, images, symbols, or reading over auditory messages.

          I’m talking about preferring to read an actual map when navigating to a new place over listening to verbal directions. I’m talking about discovering that you actually have trouble remembering what your manager said at the meeting because there were no graphs or illustrations to support the points raised.

          Most people who struggle with learning probably aren’t leveraging their best learning styles. The earlier you identify how your learning style can boost your success, the less struggle you will encounter with processing new information throughout your career.

          However, visual learning in particular CAN 10x your career or business whether it is your preferred learning style or not. And here’s why:

          Several studies have arrived at the conclusion that the brain retains more information with the help of visual aids. In other words, images are directly processed by our long-term memory which helps us store information for longer periods of time.[1]

          While some lessons can be performed orally, several concepts can only make sense if you have an image with an explanation of sequences (i.e learning about the human DNA).

          Visual learning does use a different part of the brain and visual cues are processed by the part of the brain known as the occipital lobe.

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          By engaging more parts of the brain during learning, you’re able to have a fuller understanding of concepts and facilitate better interaction with your immediate environment.

          How to Use Visual Learning for Success

          Here’re 4 ways to use visual learning to boost your career or business:

          1. Bring back the to-do list. Then add shapes and colors to boost productivity.

          We live in an age where computers have taken over virtually every aspect of productivity and most human functions. But written lists are making a comeback, and with an endless number of important tasks to complete, having a to-do list of tasks in order of importance can improve your productivity.

          While coming up with a list is initially challenging, adding colors and shapes to written lists that you personally write and manage gives you an extra layer of assurance and boosts aids recall so that you actually get stuff done.

          I have tried this technique in my work as a registered nurse and discovered that adding shapes and colors to to-do lists helps me delegate tasks, recognize where more work is needed, and makes it easy to cross off completed tasks at the end of the day.

          2. Add graphs, charts and symbols to your reports.

          Yes, it seems like more work cut out for you. However, graphs enable you monitor the heartbeat of your business.

          Graphs and charts help you trend your finances, budget, and pretty much any data overtime. With the help of free and premium software available on the market, it has become easier to take plain data and in a matter of seconds, have relevant information displayed in different shapes and images.

          As an entrepreneur, you can make predictions and allocate funds wisely when you’re able to see whether your efforts are rewarded. You can use colors and charts to delegate actions to members of your team and track performance at the same time.

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          And when broken down into monthly, quarterly, bi-annual or annual goals, graphs and charts communicate what ordinary text cannot.

          3. Effectively brainstorm with mind-mapping.

          Mind-mapping is not new but I don’t think it’s been talked about as often as we do to-do lists.

          With mind mapping, you’re organizing information accurately and drawing relationships between concepts and pieces from a whole.

          Think of a mind map as a tree with several branches. For example, the tree can symbolize healthcare while each branch stands for nursing, medicine, laboratory science, and so on. When you look at nursing, you can further branch out into types of nursing; pediatric, women’s health, critical care, and so on.

          It’s an interesting relationship; the more ideas you’re able to come up with for your chosen subject, the deeper you get and the stronger the association.

          Mind maps really show you relationships between subjects and topics, and simplifies processes that might seem complicated at first glance. In a way, it is like a graphical representation of facts presented in a simple, visual format.

          Mind mapping isn’t only limited to career professionals; business owners can benefit from mind mapping by organizing their online learning activities and breaking down complex tasks into simple actions so that you can accurately measure productivity.

          4. Add video streaming to meetings.

          What if you could double the productivity of your team members by video streaming your meetings or adding flash animation to your presentation at the same time?

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          When you offer video as an alternative method of processing information to colleagues, there is a greater chance of retaining information because we recreate these stories into images in our minds.

          For organizations that hold virtual meetings, it can also be an effective way to enhance performance during if people can see their colleagues in addition to flash animation or whatever form of video is provided during the meeting.

          Is Visual Learning Better Than Other Learning Styles?

          No, that is not the point. The goal here is to supplement your existing dominant learning style with visual learning so that you can experience a significant boost in how you process and use everyday information.

          You might discover that understanding scientific concepts are much easier after incorporating visual learning or that you’re able to understand your organization’s value when projected on a visual screen with charts and graphs.

          The overall goal is to always be learning and to continue to leverage visual learning style in your career and business.

          More About Learning Styles

          Featured photo credit: Unsplash via unsplash.com

          Reference

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