Motivation
Motivation because the responsibility is yours. You are accountable for every loss and gain. Self-motivation to better yourself and your efforts so as to always keep the graph ascending.
Confidence
You have to be confident that your efforts will be paid. Only a confident individual is able to draw clients and customers, financiers and stakeholders. Your venture is solely dependent on how confident you are about it and yourself. If you are unable to prove this, the trust in you will be abandoned.
Risk-Taking
The difference between a salaried job and a business is the Risk factor. In business, the risk of it is totally on you. If you lose you will be ruined. The risk of your business, its decisions, functioning, management, and finances, lies completely on you. There is no second party to it. You have to thus be calculative and foresighted. You have to be able to make the right business decision. And in case there is a downturn, you should be prepared to bear with the loss.
Ethics
Ethics is the founding stone. You have to decide what is it that your venture stands for, what is your ulterior objective, and where you will draw the line. Your and your business’s popularity, reverence in the market, and value is dependent on your value system, and how you stand up for them.
Time Management
A schedule is essential for success in life. Every minute of the day is valuable. Study the market, your clients and their needs, your scope of betterment. Try finding and developing innovative ways of success in your free time. Allot time accordingly for respective work, based on priority, do not neglect anything. And give yourself time to relax and rejuvenate.
Persistence
The secret of long-time success is to go on, against all odds, at a pace that is beneficial and stable than rushing it.
Cautious but Optimistic
Be an optimist, and think positively about your ideas and goals. But do not at any stage get complacent or laid back. Be a dreamer, but practical. If something cannot be achieved accept it, and try a different route or strategy rather than wasting resources and time. Give yourself entirely to your venture.
See the Goal
Keep your goal in sight always.
Customer Oriented
A huge part of your success depends on your clientele. Keep them in mind – their needs, aspirations, and expectations. And fulfill them at all costs. This is a sure shot to success to retain your client base, for sustenance and growth.
Flexible
Things and business scenarios change rapidly and without warning also at times. be flexible enough to accept the market changes, and to adapt to them, if you want to survive in this highly competitive environment. But definitely not at the cost of your value system.
Leadership
A good leader knows to command people and wins their trust and respect, thus making a successful entrepreneur.
Excellent Communication
To communicate with employees and clients, to get your message across, and to understand the ones sent across to you.
Good Team Player
Learn to work in a team, delegate, and work together.
Management of Finances
In business, knowledge of finance is essential. And how to manage it, that is how to balance between earnings or resources and expenditure.
Foresighted
This is the key skill required. Why most of us are scared of being an entrepreneur and why some of us are geared towards it. This is the factor that sets apart entrepreneurs from the rest of us.
