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What does being an entrepreneur mean nowadays?
The entrepreneur is âan individual who starts and/ or manages a business, assuming the risks and responsibilities thereby entailedâ.
But what does it really mean? Over the years, entrepreneurship has changed, just as the tastes of consumers and markets have changed. And with globalization, competition has intensified.
Faced with these changes, entrepreneurs have to tweak the kind of product or service they provide, devising new strategies and identifying new markets; in other words, they have to innovate their company by intuiting how a given market may or may not evolve.
This comports risk, of course, but the meaning is much deeper.
Entrepreneurs are madmen, visionary children who most of the time are imagining a reality that doesnât yet exist, and they donât give a damn about those who invariably root for them to fail. They doggedly push forward.
Itâs a very crowded category â everyone wants to be an entrepreneur, at least of themselves, but only 10% manage to realize their visions in a concrete way, and a mere 2% succeeds on a significant scale.
Here are the traits that characterize a true entrepreneur, in my view: Passion: nothing can happen without passion. An entrepreneur without passion is like a car without gasoline â it canât go anywhere.
Creativity: the meaning of creativity has been distorted by the artistic notion of making abstract things that are difficult to realize. Being creative for an entrepreneur means seeing every situation from different points of view. Creativity is life!
Optimism and Resourcefulness: although the difficulties will be many, donât let it get you down. If what youâre doing were easy, everyone would be doing it. Itâs vital to take risks. If you donât try, youâll never know what could have been. And remember, without investment there can be no return.
Tenacity and Flexibility: keep believing all the way. This trait has made the difference in many cases between successful entrepreneurs and those who âgave it a tryâ. Donât give up at the first obstacle.
And you need to be flexible when the rapidity of response can mean the difference between success and failure.
Idea/Dream: itâs essential to never stop dreaming or believing in the idea. Pragmatism is just setting concrete goals without ever allowing the dream component to threaten each step.
Objectives: these give you a framework for avoiding the pitfalls of navigating blind, a way to program you dream and turn it into reality.
Therefore, you always need to have your short, medium and longterm objectives clearly established.
Discipline and Study: Continually honing skills and staying informed is essential. And the resulting knowledge must be disciplined. Without discipline, itâs like swimming with no particular stroke, which costs energy and breath.
Dear readers, being an entrepreneur is a tough job... but someoneâs gotta do it.