An academic qualification such as a degree or Masters does not make an entrepreneur. History’s most well-known entrepreneurs are school or college drop outs.Just look at powerful billionaires such as Richard Branson, Steve Jobs or Mark Zuckerberg. What makes them so unique?
Entrepreneurs have a certain mindset or characteristics that drive them to pursue their passion. Each characteristic is intertwined with each other and most entrepreneurs usually have most or all of the traits explained below.
1. Accept failure as a possibility
Entrepreneurs rarely make it ‘Big’ on the first try. The initial stages of any startups have increasingly high failure rates. More than often, entrepreneurs fail numerous times before they hit jackpot. The path to success is filled with potholes that they need to cross and stumble over, usually making several mistakes and still unwilling to give up.
2. Accept that you cannot do everything
An entrepreneur knows they cannot achieve everything alone. You possibly cannot run a whole operation alone, giving the exact amount of attention that each aspect requires. Instead, rely on the people working with them to achieve the company goals and encourage their input and ideas.
3. Constantly learn new things
Entrepreneurs are open to the world and vast knowledge base. Reading and learning is part of what makes them who they are. It isn’t about being an expert on a subject, rather having a broad knowledge or skill set about everything that if someone talks with them, it is evident that they are in fact knowledgeable.
4. Go with your instincts
It isn’t always easy for an entrepreneur to go with their gut-feeling. They are usually ridiculed and teased about their high ambitions. While business in itself carries many risks, going along their instincts when taking important decisions is one thing that ultimately bring triumph.