Can you be your own boss?

Read on to find out whether you have an en­tre­pre­neur­ial spark in you

Hindustan Times (Delhi) - HT Education - - Front Page - HT Ed­u­ca­tion Cor­re­spon­dent

The abil­ity to spot busi­ness op­por­tu­ni­ties in the most un­usual places is the hall­mark of an en­tre­pre­neur. He/she should have the abil­ity to cre­ate a com­pet­i­tive busi­ness ad­van­tage by of­fer­ing some­thing which is re­fresh­ingly dif­fer­ent in the mar­ket. Need­less to say, an en­tre­pre­neur should have a life­long pas­sion for in­no­va­tion. Sharp cus­tomer fo­cus and acute com­pre­hen­sion of the cus­tomer psy­che are other es­sen­tial at­tributes.

An en­tre­pre­neur should be self-mo­ti­vated and self­as­sured. In other words, he/she should demon­strate un­flinch­ing con­vic­tion in ideas even in the face of crit­i­cism and spec­u­la­tion. An en­tre­pre­neur should also have the will­ing­ness to ac­cept de­feat. Vi­sion, drive and per­se­ver­ance cou­pled with an in­nate ca­pac­ity for risk-tak­ing are other in­dis­pens­able traits that au­gur success in this do­main. Also, ju­di­cious money man­age­ment cou­pled with the acu­men for de­tailed plan­ning never fail to trans­late to an edge.

An en­tre­pre­neur should have good peo­ple skills and the abil­ity to net­work and build upon ex­ist­ing pro­fes­sional re­la­tion­ships. Ef­fec­tive ne­go­ti­a­tion skills are also very im­por­tant. Man­ag­ing one’s en­ter­prise re­quires a lot of self dis­ci­pline and hard work. Hence, en­trepreneurs should be will­ing to put in long hours of work.

Many a time en­trepreneurs are re­spon­si­ble for build­ing or­gan­i­sa­tions in which sev­eral peo­ple seek em­ploy­ment and pur­sue ca­reers. Hence they need to be nat­u­ral lead­ers who can set ex­am­ples.

Peo­ple who are nat­u­rally in­quis­i­tive about the lat­est hap­pen­ings in the world of busi­ness and keep them­selves up­dated through mar­ket­ing books, mag­a­zines, re­ports, jour­nals, news­let­ters, web­sites and in­dus­try pub­li­ca­tions gen­er­ally do well as en­trepreneurs. An en­tre­pre­neur should also be con­ver­sant of the lat­est de­vel­op­ments in tech­nol­ogy so that he/she can ef­fec­tively lever­age tech­nol­ogy to build scale for the en­ter­prise. Last but not the least, an en­tre­pre­neur should have a strong sense of ba­sic ethics and in­tegrity.

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