There is a global surge in startup culture and this makes entrepreneurship a commonly used term today. An entrepreneur is more than just an equity-holder of a company. Before talking about the must-have qualities of an entrepreneur, it is important to understand the term in its totality. An entrepreneur is someone who initiates the business and drives it, and is accountable for its profit and growth – he/she is a leader in true sense! However, what good will all that be of if an entrepreneur is unable to influence the right people in the right manner.
A business without a suitable set of people can only expand as much. Indeed, it is an entrepreneur’s responsibility to attract and influence the right people with inspiration, motivation, and aspiration, blended with empathy, wisdom, and compassion. So, what are the innate/acquired qualities that entrepreneurs or leaders are expected to possess? How to pull the right people towards them, to follow and learn from them? After all, entrepreneurs are answerable for building the work culture that can either motivate people to stick around or discourage them to move away. Let’s find out about these most-essential and must-have qualities of an entrepreneur.
Compassion and empathy: Business leaders need to understand the value of people, their cumulative skills and contributions and in order to influence them, it is crucial to express compassion and empathy. Entrepreneurs are expected to create a value-centric work environment.
that will foster a positive sense of purpose in the employees. As the youngest generation is coming to the forefront, the future workspace will witness a behavioral shift in employees wherein companies must pay attention to build a culture based on humanistic elements. After all, a company that is run by an entrepreneur who truly cares for the employees make the most influence on them, which results in a high retention rate, improved productivity and company loyalty. At the same time, management should encourage activities that would imbibe the most essential qualities of an entrepreneur in the employees as well.
Passion and dedication: After instilling a sense of compassion and empathy, it is time to inspire your people with passion and dedication towards your business. Remember, an entrepreneur or a business leader is the most important person in the company who everybody looks upon at with respect and expectations. Imbibing the employees with the same amount and level of passion and dedication that is required to run the business successfully will not only empower them to take that extra mile but will also encourage them to sincerely help each other. A passionate and dedicated entrepreneur influence people with a sense of shared business purpose and goal, which gives them direction, clarity and common objective.
Adaptability and wisdom: Influential entrepreneurs are highly adaptable, and they usually possess the right business acumen and foresight, which gets evident in their thought-process and decision-making abilities. Only a nimble-minded and prudent entrepreneur can motivate, inspire and influence the employees to embrace necessary and constructive changes within the business processes and functions, which will ultimately speed up the company’s growth, expansion and value. At the same time, flexibility and knowledge are two of the most important mental qualities of a successful entrepreneur. This influences people to build trust and dependability on the leader and his/her business decisions. Moreover, an entrepreneur who is open to inculcate new and superior ideas and intelligence into the work culture is always believed to be a visionary.
Integrity and humility: Integrity as an entrepreneur will encourage people and customers to trust you, work with you, join your company, buy your product, become your partner, lend you a loan and help you in difficult times. It influences people instantly and inspires them to ingrain the tenets of loyalty, transparency, and trust. It is imperative for a business leader to preach and practice honesty in his/her thoughts, words and deeds. At the same time, it is equally important for an entrepreneur to stay grounded and remain modest and humble in approach and attitude. Most importantly, a company that is governed by modest and honest leaders usually fosters a work culture driven by fidelity, impartiality, and openness – ultimately achieving perfect business productivity.
Optimism and creativity: Optimistic and creative entrepreneurs instantly win over people with their hopefulness and positivity. Having said that, it doesn’t mean that they are impractical or unrealistic – it’s just that they never give up on their dreams and this makes a lot of difference to people who work with them. The entrepreneurs’ optimism always keeps their creativity, intelligence and productivity ticking, which adds to the employees’ enthusiasm, self-faith, and confidence. Optimism imbibes a sense of curiosity in entrepreneurs and this encourages them to try and execute different plans. In case one of their plans fail, they are prompt to explore the other in the list. Their creativity and zeal empower them to foresee solutions and set future goals, keeping the current resources in mind. Their ‘outside-the-box’ approach accompanied by the ‘never-give-up’ attitude influences people to rely on them until they find an answer to their situation.
Apart from these must-have qualities of an entrepreneur, they are also expected to be risk-takers, perseverant, customer-oriented, self-disciplined, persuasive, practical-minded, decisive and action-oriented. They need to possess a clear sense of direction along with a lot of knowledge. Becoming a successful entrepreneur is somehow easier than becoming a successful entrepreneur who can positively influence people to add more meaning to their life and make a difference in their existence. Try it out yourself!