10 Essential Attributes of an Entrepreneurial Mind

Are entrepreneurs born or made? This has been the talk of the entrepreneurial world for long. And the answer is yet to be found. In start-up circles, this has been endlessly debated. It is always pleasing to see how leaders emerge from various backgrounds and with vivid traits and personalities. Different people learn from different situations and different ways.

Entrepreneurship is as important as any other part of a business. It has a big say in the growth of any company and in the success of an idea. ‘Entrepreneurs create customers and customers, in turn, create jobs and economic growth’.

Based on the way human minds work, here is a list of 10 essential attributes of an entrepreneurial mind.

1. Power punch

There is cut throat competition in the world at this point of time. So, the entrepreneurs need to be aggressive and move towards the goal without being stuck in the mid and without being injured by the impediments. The mind of theirs must be power packed.

2. Confidence

Confidence alone can do no wonders unless it is substantiated by desire, preparation and experience. Being confident is a good starting point for any budding entrepreneur. The entrepreneur must be a dreamer without limits but must be disciplined. If he/she has the confidence to dream big without faltering, the entrepreneur can grow easily.

3. Creativity

Entrepreneurship means the ability to see things differently. It can be with products or processes. The creative side of an entrepreneur must be strong and active. With that being the case, the company can grow in far less time.

4. Comfort with uncertainty

Uncertainty is the very essence of entrepreneurship. A distrust of prediction creates an environment where uncertainty rules. Entrepreneurs must feel comfortable in the state of being between raw idea and successful product. They should be able to thrive in the middle ground.

5. Business focus

The entrepreneurs must be focus on the business and give in all of themselves for earning profits. Alignment with business and tight operations is very necessary. The man in charge must also maintain that he/she doesn’t lose the sight of the customers.

6. Open minded

For an entrepreneur, it is necessary that he relishes every event, every situation and every business opportunity. They have the ability to look at everything around them and focus on the goals they have set.

7. Self-starter

If something needs to be done, the entrepreneurs must be the ones to start it themselves.  They set the parameters and make sure that the projects follow suit. They are proactive and don’t wait for someone else to give them a nod for the work.

8. Competitive

Many companies are set up because the entrepreneurs know that they can do things in a better way than they are currently done. They win at things they do: sports, business and everything else.

9. Finding new markets

The entrepreneurs are never satisfied by what they have. They keep on finding new markets for their existing products. They don’t stop at the market they have and keep on trying to find new ones. This is what separates entrepreneurs from businessmen.

10. Disappear

For every while a week, an entrepreneur needs to take a break from everything. They need to switch off the phones, stop checking any emails and should refresh their minds without being distracted from the day to day operations. The need to is choose between important and urgent.

This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for GST Software, GST Return Filing, GST Registration, Section 8 Company Registration, Nidhi Company Registration, IEC Registration, Fssai License, File ITR Online.