ENTREPRENEURS – PERSONALITY AND MINDSET
Introduction
Entrepreneurs are innovative, creative, and business-minded individuals who often apply design thinking in their operations to achieve set goals. Individuals own certain personal traits and gained the skills required to conquer the marketplace. However, an entrepreneur’s personality is essential in effecting the gained skills and effectively running a business enterprise.
Entrepreneurial Traits
Daniel Bortz, an article writer on the Monster website-based platform introduces motivation as the premier trait required by entrepreneurs for the success of a certain entity. Business owners need to be motivated with all dynamic aspects in the daily organizational tasks. Motivation drives the entrepreneur to yearn for more productivity, through challenging outcomes as well as the beautiful side of the entity or marketplace position (Patel, 2017). Successful enterprises require one to be enthusiastic about everything going on in the company. Versatility by employees enables them to adapt to any changes or unfortunate business outcomes without any major forms of regressive development (Forbes, 2020). An employee may venture into a certain business practice or task but should be able to shift effectively once the marketplace changes. Certain business entities require many occasions of risk-taking. Risk tolerance is an essential trait for employees, not to be afraid of venturing into risky and promising initiatives.
Entrepreneurial Skills
Successful entrepreneurs exploit certain marketplace skills in achieving productivity. Workforce members should be curious about what happens across the business platform. Curiosity enables employers to discover new opportunities and learn from excelling organizations. Curiosity discovers innovation, by trying out different business initiatives (Alison, 2020). Time management is a key skill in strategic planning and careful optimization of an entity’s agendum. Project management is dependent on effective time management from simple to complex job operations (Annie, 2017). Entrepreneurs should think outside the box to conquer the marketplace. Business entities share similar approaches and tasking processes, however, deploying creative thinking enables business owners to see things differently and be profound in the market.
Mindset and Personality
A successful business is dependent on certain personality traits and general work expertise of an entrepreneur, either running the entity or simply an employee. Entrepreneurs need to be resourceful, passionate, and willing to listen to other employees in the determination of ensuring the entity is productive. However, entrepreneurial traits and skills need to be supplementing with each other concurrently for more productivity.
Entrepreneurs are characteristically creative-minded, thinking outside the box in coming up with innovative ideas for a productive business enterprise. Anyone can come up with innovative ideas, but it requires a certain mindset and personality to beat the challenges on board. Entrepreneurs’ mind-set should be creative, innovative, and be able to perform design thinking, open to risk but void of failures. At times, the success of an entity is dependent on the individual skills of an entrepreneur (Entrepreneurial mind-set, 2020). There are certain characteristics which entrepreneurs should develop in manipulating an entrepreneurial mindset. They include positive mental thinking, a creative mindset, persuasive communication ability, and intrinsic motivation and drive. On the other hand, personality refers to the natural human characteristics that may enable one to design, process, and manipulate successful business ideas. Personality dispositions are related to one’s state of proper mental health, happiness, occupational choice, as well as business field satisfaction and performance. Personality traits may influence the performance of certain business enterprises. Additionally, entrepreneurial personality traits reflect on the individual mindset. The natural consistent patterns and natural behavior influence the way one perceives certain challenges and opportunities in the workplace. Some personalities for instance being less risk-tolerant may prevent having a creative and innovative mindset. Consequently, many business-minded people aren’t fit to venture into certain businesses due to their personality dispositions (Marius, 2015). For instance, a certain business may require a lot of persuasive communications in the marketplace; it is naturally poor in such communications, it is impossible to develop a persuasive communication trait.
Motivation
Motivation comes from within someone. An entrepreneur’s personality of self and motivation drive pushes him or her to yearn and remain focused on the set goals; this means that one should be self-motivated instead of waiting for others to catalyze their journey. Great entrepreneurs have proved to have the ability to keep the focus on the final game, formulating long-range plans and keeping the fire burning (Sarath, 2020). However, those venturing into business should put in mind that intrinsic motivation and self-drive are from within and none’s natural personality.
Successful entrepreneurs have different stories behind their success. Oprah Winfrey is arguably the richest African American and considered the most influential woman on the planet today (Marshall, 2019). She encountered a tough upbringing, daughter to an unmarried teen who worked as a housemaid. She had a passion for radio and television shows which made station managers impressed. She appeared on different shows until the time she unveiled her show The Oprah Winfrey Show. To date, she boasts a net worth of over $3 million.
Hans Christian Anderson had an admirable determination and intrinsic drive which has made him one of the greatest entrepreneurs of all time. Anderson grew up in a poor background, later attended a school where he was harassed and mocked. He tried to venture into singing and acting but failed (Larry, 2015). However, after school he started writing fairy tales, which became popular over time. His tales have inspired Disney film animations, making him a renowned writer.
Katherine Minshew is an example of falling and rising entrepreneurs. Katherine disagreed with her co-founders, losing all savings and websites. However, she took the failure, turning it into power creating The Muse, alongside her former employees. Obstacles and failure are part of an entity’s growth. A handful of employees make it without experiencing challenges on the way.
References
Alison Doyle (2020). List of Skills Entrepreneurs Need. Available at: https://www.thebalancecareers.com/list-of-skills-entrepreneurs-need-2062391 (Accessed: 26 May 2020).
Annie Pilon (2017) (2020) Smallbiztrends.com. Available at: https://smallbiztrends.com/2016/01/entrepreneurs-who-failed.html (Accessed: 26 May 2020).
Daniel Bortz (2020). 9 traits of successful entrepreneurs you should develop .Available at: https://www.monster.com/career-advice/article/entrepreneur-traits (Accessed: 26 May 2020).
Entrepreneurial Mindset: 5 Characteristics to Cultivate | Accion (2020). Available at: https://us.accion.org/resource/entrepreneurial-mindset-5-characteristics-to-cultivate/ (Accessed: 26 May 2020).
Forbes (2017) What Are The Most Important Skills Entrepreneurs Need? Available at: https://www.forbes.com/sites/quora/2017/09/11/what-are-the-most-important-skills-entrepreneurs-need/#32293997106c (Accessed: 26 May 2020).
Larry Kim (2015) 11 Most Famous Entrepreneurs of All Time (and What Made Them Wildly Rich) (2015). Available at: https://www.inc.com/larry-kim/11-most-famous-entrepreneurs-of-all-time-and-what-made-them-wildly-rich.html (Accessed: 26 May 2020).
Marshal Hargrave (2019) Who Are the Top 5 Most Successful American Entrepreneurs? (2020). Available at: https://www.investopedia.com/articles/personal-finance/092315/top-5-most-successful-american-entrepreneurs.asp (Accessed: 26 May 2020).
Marius Kharlet (2015) Entrepreneurial personality | STARTIFY7 (2020). Available at: https://startify7.eu/wiki/entrepreneurial-personality.html (Accessed: 26 May 2020).
Patel, S. (2017) The 5 Personality Traits All Entrepreneurs Must Have, Entrepreneur. Available at: https://www.entrepreneur.com/article/298650 (Accessed: 26 May 2020).
Sarath CP (2020). 10 Must-Have Traits of a Successful Entrepreneur (2018). Available at: https://medium.com/swlh/10-must-have-traits-of-a-successful-entrepreneur-d46519452b0e (Accessed: 26 May 2020).