justanothersteptoknowledge

[justanothersteptoknowledge]

3 Top qualities of a successful entrepreneur 💡

Being a successful entrepreneur isn't easy, there will be ups and downs and that is where preparing your mind for whatever comes in, I will list and talk about 3 top Qualities of a successful Entrepreneur.

Three top qualities of a successful entrepreneur

Deep passion

Creativity

Robust Work Ethic

Deep passion

Work ethic and passion go hand in hand. It takes work ethic to keep the business strong, and it takes passion to feel motivated enough to maintain a good worth ethic.

I believe passion is easily the most significant personality trait any successful entrepreneur has, and for obvious reasons. They’re successful because they choose to do what they love.

Did you ever feel so passionate about a school project that you ended up getting an A? That feeling of success is priceless, and it’s how entrepreneurs feel when they see great outcomes from the effort they put into their work.

Creativity

Companies that thrive are often built from the wild creativity of their creators. With aggressive competition these days, entrepreneurs are forced to come up with original ideas that differentiate their companies from others.

Creativity can mean thinking of unique business ideas. It can also come into play when finding a relationship between two unrelated things to solve a problem. Creative entrepreneurs consider the possibility that the traditional solution isn’t good enough

Robust Work Ethic

Successful entrepreneurs know a thing or two about work ethic. Most of the time, they’ll be the first to arrive at the office and the last to leave. If there’s unfinished business, they’ll show up at the office on weekends and holidays and work until the job is complete. These are the people who always have work on their mind, even if they’re enjoying personal time.

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[justanothersteptoknowledge]

ENTREPRENEURSHIP 🌱

What exactly is entrepreneurship?

Don't get it twisted with what is an entrepreneur!!

Entrepreneurship refers to the process by which individuals/an individual exploit a commercial opportunity either by bringing a new product or process to the market, or by substantially improving an existing good, service, or method of production while an entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.

There are 4 four main types of ENTREPRENEURSHIP, "small business entrepreneurship, scalable entrepreneurship, Large company and social entrepreneurship" its up to you to select which best suits you as an entrepreneur.

As there are different types of entrepreneurs, there are also different types of businesses they create. Below are the main different types of entrepreneurship.

Small Business Entrepreneurship

Small business entrepreneurship is the idea of opening a business without turning it into a large conglomerate or opening many chains. A single-location restaurant, one grocery shop, or a retail shop to sell your handmade goods would all be an example of small business entrepreneurship.

These individuals usually invest their own money and succeed if their business turns a profit, which they live off of. They don't have outside investors and will only take a loan if it helps continue the business.

Scalable Startup

These are companies that start with a unique idea; think Silicon Valley. The hopes are to innovate with a unique product or service and continue growing the company, continuously scaling up as time moves on. These types of companies often require investors and large amounts of capital to grow their idea and reach multiple markets.

Large Company

Large company entrepreneurship is a new business division created within an existing company. The existing company may be well placed to branch out into other sectors or it may be well placed to become involved in new technology.

CEOs of these companies either foresee a new market for the company or individuals within the company generate ideas that they bring to senior management to start the process.

Social Entrepreneurship

The goal of social entrepreneurship is to create a benefit to society and humankind. They focus on helping communities or the environment through their products and services. They are not driven by profits but rather by helping the world around them.

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