(By Rene Skaflestad)
“As an entrepreneur you have to be able to sit down with people and understand their problems in order to come up with a solution. In other words, entrepreneurship is about identifying problems, coming up with solutions and executing your brilliant plan. If you can recognize yourself doing this chances are that you are already great.“
What is entrepreneurship and what makes a successful entrepreneur? If you look at the pure definition of entrepreneurship it is described as ” the capacity and willingness to develop, organize, and manage a business venture along with any of its risks in order to achieve profit”. I believe that what distinguishes a mediocre entrepreneur from a great entrepreneur depends on the following 10 skills.
1. The ability to execute (hugely important!)
2. Great interpersonal skills
3. Willingness to take risk
4. Must have a vision
5. Eagerness to create a fundamental change in an existing market or new market
6. Confident in own abilities
7. Can-do-approach to work
8. The ability to identify consumer’s “pain points”
9. Money and power should be secondary, creating a great product or service should be primary
Arguably, it is possible to improve some underlying skills like interpersonal and work-related skills, but the majority of the skills mentioned depends on an individual’s personality. While there are many mediocre entrepreneurs, there are very few great ones such as Aliko Dangote, Mike Adenuga, Elon Musk, Reid Hoffman and Jack Dorsey. What these great entrepreneurs have in common is that they wanted to create a fundamental change in the market and they were willing to take the risk. LinkedIn provides a professional platform for users worldwide, Twitter connects like-minded individuals, and PayPal enhances online transactions. What do they have in common? If you read the this article properly you will immediately notice that all of these billion dollar companies have solved a problem. As an entrepreneur you have to be able to sit down with people and understand their problems in order to come up with a solution. In other words, entrepreneurship is about identifying problems, coming up with solutions and executing your brilliant plan. If you can recognize yourself doing this chances are that you are already great.
“Opinion pieces of this sort published on RISE Networks are those of the original authors and do not in anyway represent the thoughts, beliefs and ideas of RISE Networks.”