Essential Characteristics of an Entrepreneur

An entrepreneur is a businessperson who not only conceives and organizes ventures but also frequently takes risks in doing so. Not all independent business people are true entrepreneurs, and not all entrepreneurs are created equal.  Different degrees or levels of entrepreneurial intensity and drive depend upon how much independence one exhibits, the level of leadership and innovation they demonstrate, how much responsibility they shoulder, and how creative they become in envisioning and executing their business plans.

Entrepreneurial Development has five different types or levels of entrepreneurial mindsets, patterns of thinking, and belief systems.  They begin with the basic level of the employee – and an understanding that good employees often evolve into great entrepreneurs but that to become an entrepreneur one has to first adopt a perspective and seek out a role above and beyond that of an employee.

• The employee sets goals mainly to impress others, to avoid confronting fears – including the fear of personal freedom and success – and to conform to a comfort zone rather than pushing to learn more and gain new experiences.
• Because of self-imposed limitations, employees prefer to follow someone else’s game plan, and they lack the desire to become a self-motivated and self-reliant entrepreneur.
• They focus primarily on personal security and their emotional motivation derives from a fear of insecurity and a desire to be within the comfort zone of a secure situation.

Those who want a greater sense of responsibility and control over their lives and have the confidence to experiment with that possibility often rise up from the ground level of employee status to the first level of entrepreneurship.  They do this by becoming self-employed.

The Self-Employed Mindset

The emotional driving force behind the self-employed person is not security but a desire for greater control over his or her life, career, and destiny. Relinquishing that control to a boss every day from nine to five is not their idea of happiness, and they believe that they could do their job just as well without an employer – and perhaps without the need for other employees.

The Managerial Perspective

Those with a managerial outlook are often in a great position to succeed as entrepreneurs, expect for two big misconceptions that lead to massive problems. Many managers believe that if a business is not working, the solution lies in hiring more employees.

The Attitude of Owner/Leader

The entrepreneur who attains the level of an owner/leader enjoys remarkable benefits by knowing how to step aside and let the business – and those employees working in it – operate as a profit center not reliant upon the owner’s constant hands-on participation.

The Entrepreneurial Investor

With a business that generates profits, the entrepreneur who has succeeded this far can begin to accept another exciting challenge, that of managing money so that it works to produce more money. Investing for maximum returns.

The True Entrepreneur

Having learned new things every step of the way and evolved through various stages of entrepreneurial accomplishment and insight, it is possible to reach the ultimate goal and realize one’s dreams in a really life-changing  way.

If you would like any further advice then contact me here at steven@garrardslondon.com.au or 0439 964 020.