Characteristics of an Entrepreneur

Characteristics of an entrepreneur play an important part to success of an entrepreneur, but when you research the internet to find the Characteristics of an entrepreneur you will almost always find the same list of qualities such as a risk taker, smart and a leader and while yes they are super important there is another set of qualities that are also required that most people never talk about and here is my alternative list or Characteristics of an entrepreneur:

Arrogant: To exaggerate one’s own worth or importance. This may seem strange, but every successful entrepreneur believes his company is the best and his product is the best. If you think it is then shout it to the world.

Boastful: A cause for pride. Yes be very proud of who you are and what you do, but don’t ram it down people’s throats.

Cautious: Yes be very careful who you work with and check out everyone. Especially your legal advisers such as accountants and lawyers who will give you advice that will make or break you.

Day dreamer: Follow your dreams. Dream at least once a day. Never let your imagination stop. Feed your dreams and chase them furiously.

Eaves dropper: Listen to everything that is going on. The news, the staff, friends, family, social issues, competition, customers, your feelings, intuition…actually everything. Learn to pick up tips and news and use it to structure your business accordingly.

Flamboyant: Dress to impress. Act to stun. Be your own movie star and director of your movie called “your life”. Make people remember you, but don’t be too crass. You deserve the best so have it. you work hard so enjoy your spoils and give yourself the best life.

Gallant: A man (or it could be the other way round for women) who likes the company of women and is attentive to them. They say sex sells everything and if you pay attention to them, they will fall in love with you and your product. They say behind every great man (woman) there is a greater woman (or man).

Handyman: Be a McGiver or Jack of all trades. You will need to fix the car, do the books, excel in marketing, stand on stage, support your staff, lead, push, clean the toilets or just about everything that is part of your business. Learn to love it.

Ignorant: Be ignorant to the word “Can’t” or “I don’t know how”. Be ignorant to circumstances and focus on commitment. Be ignorant to the people who laugh at you. Be ignorant to doubt and fear.

Junkie: Learn to love junk-mail. Collect and study junk-mail. Junk-mail has some of the best advertising techniques known to man. Completely unsolicited advertising that gets results. Study the headlines, study the fonts, study the layout, know the tricks such as 50% off or buy-one-get-one-free, but don’t ever spam or send junk mail.

Know-all: Know everything about your product. Know it backwards. Know it upside down. Never stop studying it or thinking about different ways to use it. One man maybe happy because he sold a painting. The buyer maybe happy because the painting covers a whole in the wall. Know everything about your product and what you can do with it.

Labor-saver: Find a way to save people time and they will buy your product. Everyone was happy with a horse and cart until the motorbike was invented which went faster and then the car and then the train and then the plane and then the space rocket. Keep finding ways to save people time and effort as man is intrinsically lazy and they will buy your product.

Mean: Be mean. Don’t give money away without good reason. Don’t give discounts unless you absolutely have to. What starts of as a bonus, becomes and expectation and if you do it once you will need to do it every time. And your customers won’t keep your secret and they will tell all their friends who will expect the same and soon you will devalue your product.

Noncommittal: I was once told never be the President of your own company so that when you are in meetings and you are asked to make a decision that you don’t want to make, you can always say that you have to ask the President first and get back to them. If you are the President you have no choice but to make the decision there and then. Sometimes noncommittal to certain projects may save your business so be prepared for a back-door.

Obedient: Obey the law and do not fight them. If you ever get investigated by The inland revenue or BIR never ever tell them you will see you in court or threaten them even if you are innocent. Promise to work with them and that there must be an over-sight somewhere and let’s find a way to work it out. Keep the law so you can sleep at night. Just because everyone else is corrupt does not mean you have to. While everyone else spends loads of energy on hiding 2 sets of books, you can focus on business.

Pain-in-the-ass: Be a pain in the ass, ask questions, find out what’s going on, get invited to parties, be part of conversations, be everywhere but of course do it nicely. Don’t be vague in contracts, ask for deposits, ask for balance payments, charge penalties for late payments, deduct for damage, kick out poor service and never work with trash. Demand the best and expect to get it.

Questionable: question the need for anything. When your staff tells you that they need a new computer ask them why. When someone tells you that you didn’t get the project, ask them why. When someone wants you to do something you don’t like ask them why! Ask why al the time and you will learn so much about everything.

Radiate-energy: Even if you are about to fall asleep because you are dead tired from working all night never let your client see it. Always look like 100% energy. If you need to sleep tell your client you just have to get something and then take 15 minutes in the car. Always have energy for your product. Energy for your sales. Energy for you customer.

Selfish: Pay yourself first. So many people never do this and at the end of working 100 hours a week for a month they never have any money left for themselves to enjoy and they become completely de-motivated. It’s ok to work long hours and do great projects but at least reward yourself for it. Once you are paid then pay everyone else.

Talent-scout: Always be on the look out for new talent. New staff, new customers, new opportunities. I get lots of work looking at billboards in the street and then calling the clients up. I find staff in restaurants. Some great waiters make great sales people. Always be looking for new staff and if you have bad staff, get them a job with your competitor.

Unabashed: do not be ashamed of who you are and what you do. You contribute to society even if you only have a tiny business. Every time you buy a pen you pay a salary somewhere. Every idea you have could be the next trillion dollar idea like bill Gates had before Microsoft. Be proud of your products and hold them high.

Vendor: Never stop selling. When I get in taxi’s I sell to the driver, when I talk to my friends I sell them me! When I do anything I try in someway to sell my service, my talent, my generosity or some other product you have.

Walk away: Walk away from customers who give you a hard time. If a customer gives you a hard time before the contract is signed they will be the devil after the contract is signed. Never do business out of desperation. Keep your dignity even if you are down to your last dollar act as if you have 1 million and you just might soon.

XS: The dictionary definition of XS is “unknown quantity”. Keep people guessing. Do things that they don’t expect. Shock them. Make them laugh. Don’t get in a rut. Be confrontational and then be really nice. Lever let people know all of your cards and keep an ace up your sleeve just in case.

Zig Zag: Keep changing direction. Look to see where everyone else is going (the mass) and then go the other way. They can’t all be right so don’t follow them. Go your own way and learn to weave your way through the world of business.

Characteristics of an entrepreneur

I hope that you enjoy my alternative characteristics of an entrepreneur and while some of them may seem a little strange, they are essential, but don’t take them too seriously. Some of them are a bit tongue-in-cheek, but they are skills that keep me alive. I hope that you learn to have your own list of great characteristics of an entrepreneur.