Entrepreneurship holds the same importance which innovation holds for national as well as global economic development. Innovation is something very essential and we all need it. Although, the genuine fascination initiates with the entrepreneurs believed by Gallup Poll’s Jim Clifton and Sangeeta Bharadwaj Badal. Entrepreneurs are responsible to create customers, customers created opportunities (jobs) as well as economic growth. Countries require thinkers as well as doers. According to Clifton and Badal, entrepreneurship is the horse, and innovation is the cart. They also suggest that creativity, discovery, ideas as well as innovation are considered to be one side of the growth coin and commercialization is the other. The greatest venture entrepreneurs, as well as CEOs, mostly share identical traits or qualities, although there are various views on which is the most crucial as well as valuable.
Few traits of an Entrepreneurs:
- Takes pleasure working with people. An entrepreneur who works independently, do not trust people, comfortable to work alone, will give stress on micro-management, hence will not be able to satisfy people.
- Manage themselves. Good entrepreneurs are those individuals who possess confidence in their abilities, are willing and capable of making their own decisions accountable for their very own actions and capable to supply leadership, instead of seeking leadership.
- Suitable work habits. Many entrepreneurs work for longer duration as well as on weekends to complete a particular task. In case his/her team members or staff does not like to get up from sleep until late and keep the week for leisure activities other than work, then there will not be any consonance.
- Common aim and obligations. A person’s real commitment or aim can be understood after a certain period of time also his/her desired outcome to a joint venture. Employees, as well as the owner, should have a common goal which would help both coming out with flying colors.
- Identical values and goals. If amongst many ones of the core values is growing your customer belief for quality as well as service, on the other hand, the potential partners give importance to the low cost, high profile tune, a successful association is not going to last for a longer period.
- Degree of integrity. A business must have higher degrees of integrity, although it is way more crucial than the degree of comfort with the associated partner’s integrity. This is a very critical component of a fair bonding, but difficult to maintain. This is expectedly the finest place to put forward one’s gut feeling.
- Complementary skills or expertise. In case both the parties are skilled at developing the software, even if one likes the designs and the other one likes coding, there will still be challenges related to marketing. One has to look for bigger pictures starting with development, marketing/sales, and finance.
- Passion. An entrepreneur is nothing without a strong passion for what he/she doing. The passion should be in terms of business which means result-oriented, sensitive towards competition and customer-oriented as well. In various scenarios, expertise having academic or research-based credentials are not being considered suitable partners for business.