There are a variety of factors and circumstances that go into the making of a great entrepreneur. ‘A’ might not always lead to ‘B’, nor ‘B’ to ‘C’. However, there are a few personality traits that will help you make the most of any and every situation you find yourself in, and that could prove the difference between success and failure.
See if you have these 3 P’s, which have been found to be the hallmark of all Great Entrepreneurs.
Passion is the prerequisite for success in almost any aspect of life, more so when you start out on something which comes with the promise of long hours, no assured returns and a truckload of problems to deal with every day. Only passion can motivate you to keep at your dream in spite of all the hurdles in your way, day in and day out, with no more than the promise of realizing your dream at the end of the journey. Then again, as an entrepreneur, the journey can be never ending, and your passion is what will see you through it all.
Luckily passion also means that work will not feel like work, just the way of life; and happiness at doing what you love will enrich the experience.
What is the reason 90% of startups fail to continue beyond their initial years? Lack of persistence could be the answer. It takes persistence to survive the critical early years and overcome the challenges that every entrepreneurial initiative is bound to go through as it finds it’s feet. Many believe that securing your funding and starting out is IT. But reality proves that that is only the first step. Unless you keep at it through all the hiccups and hurdles that you face, you will only be a statistic in the course of history.
You passion will guide your ability to persist. So the greater your passion for your chosen idea, the higher will be your ability to persist at it till you succeed.
The third most important thing that can make a difference to your success is your attitude towards problems. A lot has been said about this, but it might not be enough. As an entrepreneur, one thing you will find yourself doing again and again is solving problems, and the experience of most great entrepreneurs has shown that unconventional thinking and ability to take calculated risks is what matters at critical junctures.
Only if you are good at this yourself and able to find the right people along the way to help you, will you ever be successful.
It is important to reiterate that there is no sure guarantee to success. But with the 3 P’s in your arsenal, failing will not remain an option.