Have you ever asked yourself if you have what it takes to be an entrepreneur? Do you feel owning a business is meant for some people and not meant for others? Is it part of ones destiny to be an entrepreneur, does it run through ones blood, or is it something you can become by your will and decisions? Where do you stand in the long standing debate of whether entrepreneurs are born or made? Keep those questions in mind as we explore the concept of entrepreneurship. In this article, we are going to discuss who an entrepreneur is and the concept of entrepreneurship, the skills an entrepreneur possesses, and the qualities of an entrepreneur. Then, we are going to answer the question of whether an entrepreneur is born or made.
An entrepreneur is a person who starts his or her own business. Entrepreneurs create their businesses, take on financial risks, and employ other needed resources with the hope of making profit from the businesses. While, entrepreneurship is the process of becoming an entrepreneur; it’s the process of building a business enterprise, taking risks that may come from it, and managing the business with the aim of expansion and realizing profits. One engages in entrepreneurship when you decide to start your own business line and become your own boss, irrespective of the challenges you will face on the way, and the risk of failing and loosing all you have invested. Entrepreneurs are different from the man that works conveniently under someone; entrepreneurs have a different mindset, and often think out of the box. An entrepreneur knows that it’s either you have a dream and build upon it, or another person would hire you to build theirs; and an entrepreneur knows that no one would ever pay you what you are worth, but when you own your business, there is a possibility of getting profit which might be many times bigger than your present salary. An entrepreneur knows that running a business is 50/50, there are risks related, but if you have a unique business plan and you follow it, you are likely to become very successful. Entrepreneurs possesses skills and qualities that a common man may not possess.
Skills An Entrepreneur Possesses
- Creativity – an entrepreneur always wants his or her products or services to be unique and peculiar in meeting needs, so they creatively design their products to be different and worth it.
- Leadership – an entrepreneur has good leadership skills. He or she is not afraid to lead and take the first step. Having a goal in mind, an entrepreneur mobilizes his or her people to actualize that goal.
- Team management – an entrepreneur is a team manager. He or she can manage people and bring them together to achieve a goal. He understands their unique differences, and assign them to duties in ways that their personalities won’t clash with one another.
- Risk taker – an entrepreneur is a risk bearer. He or she knows that the business industry is not always stable and anything can happen, but this doesn’t stop him or her from pursuing goals with hope of achievements.
- Problem Solver – an entrepreneur doesn’t shrink when he or she encounters a problem, instead an entrepreneur seeks to understand the problem, and look for solutions to solve them.
- Consistency – an entrepreneur is consistent with his or her efforts. When faced with failure during the first attempts to get the business going, an entrepreneur doesn’t give up. With hope, he or she tries again and again (probably adopting a different strategy) until success comes.
- Organization – an entrepreneur is an organized person, so he or she can take bits and pieces of ideas and organize them to become something unique and useful.
- Communication – this skill is very important in every aspect of life. An entrepreneur possesses good communication skills; that is why he or she can manage people, get and retain customers, and run his or her business successfully.
- Financial management – an entrepreneur is a financial manager. He or she can identify what would be a profitable venture and what would not, can differentiate between assets and liabilities, is financially free and stable, and utilizes money in ways that would bring more returns.
- Adaptation – an entrepreneur has an adaptive nature, and is flexible. This is important because things come in vogue and goes out of vogue. When his or her line of business is not in much demand, he or she can temporary switch to a business that is currently highly demanded. For example, during the season of coronavirus, many businesses were asked to shut down exempting some that offered essential services; this decision caused some business men and women to switch from clothing to foodstuff, and from company services to cleaning services, etc.
An Entrepreneur possesses the following qualities –
- Passion for work
- Ability to lead
- Problem solver
- Hard work
- Open minded
- Decision maker
- Loves learning
- Adapting nature
- Serious minded
- Careful planner
- Ability to challenge oneself
Those are some skills and qualities that entrepreneurs possesses. Now, back to the question:
Are Entrepreneurs born or made?
Looking at the skills and qualities an entrepreneur possesses, are they something you are born with, or something you can develop? You may say yes, one can be born with those inherent qualities; then I’ll ask again, are those skills and qualities something you can develop? The answer is yes.
Inasmuch as one can be a born leader, exhibiting those qualities at a young age, one can also develop it. The truth is that everyone is born with wonderful traits, skills and qualities, some manifest at a young age, and some would not surface until you act and develop them. The skills and qualities needed to become a successful entrepreneur are something you can develop, and this development comes by experience, discipline, positivity, nurturing, and learning. It is not something you develop overnight, but you develop it with time.
If one argues that entrepreneurs are born not made, then I’ll ask you, what becomes of the future of those that are not supposedly born an entrepreneur? Is there no chance for them? As I bring this article to an end, I affirm that Entrepreneurs are made and not just born, and everyone has the potential of becoming a successful entrepreneur; all you have to do is work on yourself to develop the skills and qualities needed. Remember it won’t happen overnight, but with time. I hope this article has inspired you to dream and build upon it, and not be a comfortable employee building another man’s dream. Entrepreneurs are made.