Ben's Place

I believe you can put a loser into a great business and it would fail miserably, but a winner may turn a failing business into a very successful one.

Successful entrepreneurs are normal people that share some high qualities. Does it mean that anyone can “do it”? No, but many that haven’t done so certainly could have. Many people that could have been successful entrepreneurs took a decision to be hired workers or freelancers, building professional careers bottom up, taking the less risky route. Later in time, when they started to take obligations and liabilities upon themselves (building a family, buying a house, new car, etc.) it was sometimes too late to take the high risk approach even if they were capable and wished to do so. If you haven’t read the “Rich Dad Poor Dad” story by Robert Kiyosaki and Sharon Lechter, I highly recommend it, even just the first few chapters to get the general idea.

Many friends and colleagues whom I had the honor to work with, told me about a great idea they had, and a few weeks later, they found out that it already existed or being implemented by someone else. If you had a great idea once, that’s a superb sign, I can assure you that it won’t be long before you will have another one. In addition, the fact that someone else is working on something in an early stage, does not mean you can’t do the same thing, better. There are endless examples for that. It is important to acknowledge that ideas are usually subject to your exposure to certain topics, so if you are uninterested in chemistry, chances you will come up with an idea in this area are slim. An Idea for a startup is in essence an attempt to solve a problem or answer a certain need.

If you seek being an entrepreneur, keep in mind that a great idea is crucial but not enough. You are going to need an excellent team, funds, faith, hands-on approach and true leadership just to name a few. You will have to go through many hurdles. The way to success in the real world is long, tough, tiresome and complex. There are no miracles.  If you are in a great business, others would like to be there too. Luck won’t bring you there (if you feel lucky, fill out the lottery, go to Vegas or hit the “I’m Feeling Lucky” button in Google).

It is als0 important to acknowledge that entrepreneurs are distinct from freelancers. While freelancers are getting paid for work they do, usually according to a “Time and Material” model, they think in terms of “getting more work or projects”. Entrepreneurs on the other hand, think in larger terms; they think in terms of creating value. That means identifying opportunities, producing results and making profits.

It is important to find an appropriate initiative, one you are passionate about, one that suits your skills well. Not every initiative can work out and create value; hence it is critical to have faith in those that have high potential rather than fearing to skip those that do not have potential even if the idea is great. I believe timing plays an important role, and I believe it should accompany your decisions along the way.

Although not all entrepreneurs are best-sellers, technologists, have the ability to grow with the business, top-notch negotiators, know how to delegate or how every single bit works in their business, they do share many high qualities. Creating an initiative takes a lot, much more than just having an idea, the desire to get rich, being responsible or smart. Entrepreneurship is a long process. It is not a move at full speed for a short distance, it’s a prolonged marathon, so prepare to devote things in your life, even some that are important to you. Always keep in mind, that even if you have it all, the initiative may still fail since not all parameters depend on you. Remember the famous quote: “Success has many fathers, while failure is an orphan.”

If so, is there a clear way to be sure you will be a successful entrepreneur? Not necessarily. There are many recipes for success. But in my opinion, there are some qualities that are critical for success. Some of them are based on natural talent, others on your real desire.

Infinite ambitiousness Incredible confidence in your ability to perform A Winner personality Ability to change Passionate about things Risk taker High IQ and EQ Common sense Creative thinker True leader Opportunities identifier Autodidact Optimistic view Hands-on approach

Additionally, these qualities may turn a good entrepreneur into a great one:

• Complete devotion
• Strategic thinker
• Quick Recovery from failures
• Great understanding of the business
• Path finder
• Nonconformist at times
• Coachability
• Know where, how and when to delegate
• Constantly re-invent yourself

Outstanding entrepreneurs learn to quickly identify their own weaknesses, and find ways to compensate for them. They never stop learning from their own mistakes, and mistakes of others. Remember, successful entrepreneurs aren’t super humans. If you find many of these qualities in yourself and if you desire so, have faith, never stop believing in yourself. You are on your way to become a successful entrepreneur.