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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 December 4, 2020

          13 Critical Things to Consider Before Switching Careers

          13 Critical Things to Consider Before Switching Careers

          Do you have a path not taken? Maybe you had big career dreams when you were younger, but somehow they didn’t materialize.

          Maybe you took your first job, thinking it would be a stepping stone to a better job. It seemed like a good idea at the time, you recall, except the better job never came along. Or perhaps, saddled with student loans, you took a job that helped you pay them off. You paid them all right, but now you feel stuck in a career you don’t really like.

          The average person spends 90,000 hours in their lifetime at work[1]. That’s too much time to be doing anything you don’t love!

          Is it time to think about switching careers? Here are 13 things to do when making the big leap.

          Diagnose Your Current Work Situation

          Before switching careers, it’s important to figure out why you’re currently unhappy so you don’t step into another situation that isn’t right for you. Start with these considerations before making any big decisions.

          1. What Are You Passionate About?

          It’s somewhat shocking, but research shows 87 percent of workers have no passion for their jobs[2]. Passion can be measured many ways, and one person’s passion is another’s poison. Still, if you believe in your company’s core mission, it really helps.

          How can you find your passion? You may have to switch careers. Try to arrange informational interviews with as many people as you can who work in the field of your dreams to be certain that making the switch will make you feel more engaged with your work.

          Your aim: To be as happy walking into the office on Monday morning as you are leaving the premises on Friday afternoon. When you love your job, no day feels too daunting. When you love your job, it doesn’t feel like work.

          Need a little help finding your passion? This article can help: How to Find Your Passion and Live a Fulfilling Life

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          2. Can You Keep up With Technology?

          Are you keeping up with it? And is your current company supporting your efforts? The speed of technology is so fast that many companies today can’t keep up. This may result in anxiety among the company’s leadership. The sense of anxiety can filter down and impact the workers. Morale is low, and everyone fears for their job.

          When switching careers, try to find a company that will allow you to learn as you grow. It also helps to consider yourself a lifelong learner. These days, we all have to be.

          Invest the Time to Dream Big

          If you’re now sure of why you want to make a move, it’s time to dig into your dreams to find exactly which direction to go.

          3. What Does Your Vision Look Like?

          Athletes visualize their signature moves. Politicians fantasize about winning. Your task is to visualize your dream. Where do want to be working five years from now? Ten years from now? Fifteen years from now? Figure out what your titles will be at each point along your new trajectory. Will you be living in your current geographical area or will you have moved?

          Ask yourself the hard questions as well. Can you afford to switch careers right now? Will you be making more money or less than you currently do? How will you support those who depend on you?

          Once you have your vision clearly committed to paper, run your vision by a few of the people who know you best. Do your friends encourage you to pursue your vision? (If they don’t, consider finding more supportive friends.)

          4. Do You Know What to Expect?

          It’s harder to switch careers than to find a new job in your current field. You may have to accomplish the move in several discreet steps. Will making a lateral move at your current company take you one step closer to your ultimate goal?

          In addition to researching your dream field online, try to surround yourself with some friends who have recently switched careers. After you have formed a rough idea of the steps you will need to take to get from where you are now to your new career, consider committing it to an action plan. The more concrete you can make your Plan, the better.

          Should you be attending more networking events? Do you need to burnish your online profile? Commit to action steps, and then put those steps into your daily calendar. You’re going to do this!

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          If, for instance, you’ve decided to move from marriage counseling to financial planning — you’ve seen enough divorces resulting from money matters to know there’s a better way to help people — your listening skills and discretion will be an asset. Your research will reveal whether you need specialized training or licensing to qualify. If so, go online and add your name to every list you can find to learn more information. Start calculating how to pay for your courses. A bonus you’ll get with continuing ed courses: you’ll gain access to a strong peer network.

          Take Action

          Time to make the move. Start considering how you will approach these steps to get where you want to go.

          5. Who Will Support You?

          What if, early in your career, you made a job switch that you regret? Now is the time to call your ex-boss and try to get together for lunch or a cup of coffee. Let them know you are thinking of making a U-turn back to your former field.

          What if your sister disapproves of every idea you have? Either resolve to avoid her for the next 12 months or call her right now — and tell her you’re switching careers and you don’t care whether she approves! Keep all naysayers at a distance during this transition time.

          6. What Can You Do Each Day to Accomplish Your Dream?

          Switching careers can be quite time-consuming, but if you break down the task into small chunks, tracking your progress as you go, you’ll have a better chance of success. Whether you spend a few hours today googling your dream career, or refurbish your LinkedIn profile to emphasize the skills you have that will help you land this new job — just keep at it.

          Career-switcher’s hint: Working on your new dream for one hour each day is more productive than spending 12 hours working at it on a Sunday. The more committed you are to achieving your goal, the faster it will happen.

          7. Does Your Resume Highlight the Correct Skills?

          First, research the qualifications of the position you hope to land. Then, look for ways to mesh them with your own skills. While some careers require specific degrees and credentials, there are many positions you can transition into that require no additional education. Sometimes, what you bring from your own background is perfect.

          Take inventory of all the hard and soft job skills you possess. For the skills you don’t have, put a plan in place to acquire them!

          Highlight your qualifications in a way that makes a well-argued case for your compatibility with the organization and the position you’re after. Keep in mind that all employers look for candidates with skills that show leadership and the ability to solve problems, persevere through challenges, and get results.

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          Refine the skills on your resume to incorporate these resume “musts.” Make sure, though, to only claim skills you truly possess. Unless you’re proficient in a software program or are fluent in a second language, leave any mention of them off.

          Switching Careers Shortcuts

          When switching careers, there are ways to make it easier. Look into these questions to see what can work for you in your search.

          8. Do You Have Any Contacts in Your Desired Career?

          People are remarkably forthcoming on their LinkedIn profiles. This helps when you search out employees in your dream field or a targeted company. But before you take full advantage of online networking, first make sure that your profile content is fresh.

          Curate all social media accounts to reflect your new direction. Social media can increase your networking opportunities exponentially. Comment on the posts of your targeted contacts and pose pertinent questions to get on their radar.

          9. Are You Networking Enough?

          While it may be considered old-school to tap your organically grown (offline) network, it still comes with the best odds of success. Reach out to your friends and acquaintances with industry connections who can help you make a connection.

          Make a point of meeting face-to-face with anyone who can offer you a lead or provide a reference. You never know what kind of opportunity will unfold from these offline connections.

          Learn more about networking here: How to Network So You’ll Get Way Ahead in Your Professional Life

          10. How Can You Become an Expert in Your New Field?

          Start building the skills you’ll need to make your career switch. LinkedIn and many other providers offer online courses in everything from accounting software to mastering Excel. For extra credit, see if you can find classes that award online badges for completing each course. Don’t be shy about adding these certificates to your online profile.

          Read trade magazines and study up on industry trends. Write and post articles on timely topics. Develop an online presence in the field of your dreams.

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          11. Are You Willing to Put Yourself out There?

          Nonprofit organizations often look for volunteers to help them with their outreach, social media, fundraising, and more. Once you’ve mastered the needed skills, be sure to have the head of the organization or a board member write a glowing recommendation for you.

          Depending on your desired career, it may be possible to take on a contract assignment at a company where you learn on the job. A freelance gig allows you to polish your skills, make connections, and prove you’re serious about this career change.

          For example, if your dream is to transform your knack for attracting followers through pithy postings into a career as a social media manager, don’t be afraid to pitch your services. Most companies need someone to manage their online presence and may welcome your fresh new strategy.

          Switching Careers Results

          Now that you’ve taken the steps to switch careers, bask in the success you’ve found in doing so.

          12. How Can You Reward Yourself?

          Set whatever benchmarks you need to achieve as you embark on switching careers, and think of them as cause for mini-celebrations. Find frugal ways to reward yourself.

          However, hold out for the big, pop-the-champagne celebration until you land your dream job.

          13. Has the Risk Paid Off?

          People who prefer to play it safe throughout their careers often fall short of their potential. Research shows the primary reason executives derail is an inability to change[3]. It takes a large measure of courage to pursue a new path. And when you succeed, it fuels your confidence.

          You have an air of self-assurance about you and a can-do spirit that stands out. And best of all, you’ll have moved from a dead-end or lackluster job to one into which you can pour your passion and realize the feeling of self-fulfillment.

          The Bottom Line

          Don’t be afraid to switch your career path once you’ve outgrown the one you’re in. Set out to intentionally pursue career satisfaction and you’ll reap great rewards by realizing the joys of job satisfaction.

          More Tips on Switching Careers

          Featured photo credit: Kevin Bhagat via unsplash.com

          Reference

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