THE CHARACTERISTICS OF AN ENTREPRENEUR
Advice on franchising by Pieter Scholtz, Master Licensee for ActionCOACH SA. ActionCOACH is one of the fastest growing and most successful business coaching franchises in the world today.
There are certain traits that are common to all successful entrepreneurs. Here we explore ten of those traits without which most people will fall short of what it takes to succeed in a franchise.
1) ConfidenceConfidence is a hallmark of an entrepreneur. We are not all born confident, but that does not mean we are not capable of it. Many confident people gain their sense of self esteem and faith in their ability to meet challenges by acting.
2) Communication skillsTrue entrepreneurs recognize that the most important element of any business is the human element. Human resources, whether referring to clients, employees or strategic partners, are what makes or breaks a business. Communication is the key to successful relationships and whether it is written, spoken, or the non-verbal messages conveyed through body language, entrepreneurs continuously works to hone their communication skills.
3) Dedicated to ongoing educationEntrepreneurs are often “autodidactic” learners, meaning that much of what they know was not learnt in a formal classroom setting, but on their own by seeking out information, asking questions, reading and research. They are also quick to learn from their own mistakes and less prone to repeating old mistakes resulting from arrogance, ego, or turning a blind eye to their own faults and shortcomings.
To teach is to learn. By leading, training and sharing experience with others the entrepreneur is constantly striving to become better educated about their field.
4) Team playerAn entrepreneur understands the concept of being ‘a team player’ and successful entrepreneurs leverage teamwork to get the heavy lifting done without breaking stride. A single twig can be easily snapped, but a bundle of twigs is stronger than the sum of its individual parts and can be impossible to bend, much less break. The same applies in business.
Those who go into business for themselves, but fail to leverage the power of teamwork and shoulder the burden themselves, are really just trading their old job for a new, more demanding one in an attempt to be self-employed.
5) System-orientedLike mathematical formulas, good systems allow us to reproduce outstanding results with the minimal exertion of energy and resources. Entrepreneurs rely on systems rather than people and they look for system-based solutions before searching for human resource solutions. A person may get the job done, but if he/she falls sick or leaves, the job is threatened. However, if a system is created to get the job done anyone can step in and follow the blueprint to realise the desired result.
Similarly, when troubleshooting and problem solving, the entrepreneur will first examine and study the system, because a flaw in the system will produce a flawed outcome each and every time. Designing, implementing and perfecting systems is one of the most useful and rewarding skills an entrepreneur possesses.
6) DedicationOne of the biggest reasons companies fail is because they lose focus. Target a goal, clarify the objective, refine the brand, and narrow the margin of error.
Entrepreneurs dedicate themselves to the fulfilment of their plans, visions and dreams. They are committed to a positive outcome and are single-minded in their dedication to the task, regardless of the effort required. It is their tenacity of purpose that galvanizes the organisation.
7) GratefulBeing grateful opens us up to receive more to be grateful for. Those who are grateful appreciate what they are given; they respect it and nurture it. They do their best to make it grow instead of allowing it to dwindle away due to neglect.
Because they know not to take anything for granted, entrepreneurs are flexible and capable of adapting to the changing demands of their environment. They also understand that riches and wealth is not about “stuff”, but about fulfilment, satisfaction and the pleasure that comes from their accomplishments and contributions.
8) A leader by exampleLeading by example, entrepreneurs are enthusiastic self-starters capable of motivating themselves and others. They understand the need to appreciate others, support them and reward them accordingly and never squander the potential of those working under their guidance.
True leaders are never indispensable. If any part of their business is threatened by their absence it will limit their ability to rise to the highest level of entrepreneurial freedom and prosperity. As renowned business consultant and retired United States Air Force Major General Perry M. Smith once wrote: “Leaders who share their power and their time can accomplish extraordinary things. The best leaders understand that leadership is the liberation of talent; hence they gain power not only by constantly giving it away, but also by not grabbing it back.”
9) Risk takerEntrepreneurs are not immune to the fear of risk, but they balance their approach to life so that the fear of failure, frustration, boredom, drudgery and dissatisfaction outweighs the fear of risk. Many more people could be successful if they took more chances.
Employees on the other hand lack the perseverance and ambition of an entrepreneur. The employee mindset is preoccupied with a need for security; clinging to the familiar even if it means the denial of their dreams.
10) GregariousBecause business is all about people, entrepreneurs tend to be socially outgoing. They get excited about sharing ideas, products and services. That excitement is contagious to their employees, clients, friends and other contacts within and beyond the business sphere.
Entrepreneurs also relish the unique opportunity to have fun doing something they love as their primary vocation. Human resource experts, career counsellors, and business psychologists all agree that those who do jobs they enjoy and are good at have higher rates of success and broader measures of satisfaction.
In conclusion, entrepreneurs view setbacks as bargain-priced tuition for the valuable business lessons gained through firsthand experience. Any shortcomings, failures, or disappointments are relegated to the past so that they cannot continue to haunt the present or obstruct the future.
And when things go right and business prospers, this further fuels the optimism and positive mindset of the entrepreneur, giving them even greater impetus and momentum for further accomplishments.
www.actioncoachsa.co.za
pietercholtz@actioncoach.com
086 122 6224
There are certain traits that are common to all successful entrepreneurs. Here we explore ten of those traits without which most people will fall short of what it takes to succeed in a franchise.
1) ConfidenceConfidence is a hallmark of an entrepreneur. We are not all born confident, but that does not mean we are not capable of it. Many confident people gain their sense of self esteem and faith in their ability to meet challenges by acting.
2) Communication skillsTrue entrepreneurs recognize that the most important element of any business is the human element. Human resources, whether referring to clients, employees or strategic partners, are what makes or breaks a business. Communication is the key to successful relationships and whether it is written, spoken, or the non-verbal messages conveyed through body language, entrepreneurs continuously works to hone their communication skills.
3) Dedicated to ongoing educationEntrepreneurs are often “autodidactic” learners, meaning that much of what they know was not learnt in a formal classroom setting, but on their own by seeking out information, asking questions, reading and research. They are also quick to learn from their own mistakes and less prone to repeating old mistakes resulting from arrogance, ego, or turning a blind eye to their own faults and shortcomings.
To teach is to learn. By leading, training and sharing experience with others the entrepreneur is constantly striving to become better educated about their field.
4) Team playerAn entrepreneur understands the concept of being ‘a team player’ and successful entrepreneurs leverage teamwork to get the heavy lifting done without breaking stride. A single twig can be easily snapped, but a bundle of twigs is stronger than the sum of its individual parts and can be impossible to bend, much less break. The same applies in business.
Those who go into business for themselves, but fail to leverage the power of teamwork and shoulder the burden themselves, are really just trading their old job for a new, more demanding one in an attempt to be self-employed.
5) System-orientedLike mathematical formulas, good systems allow us to reproduce outstanding results with the minimal exertion of energy and resources. Entrepreneurs rely on systems rather than people and they look for system-based solutions before searching for human resource solutions. A person may get the job done, but if he/she falls sick or leaves, the job is threatened. However, if a system is created to get the job done anyone can step in and follow the blueprint to realise the desired result.
Similarly, when troubleshooting and problem solving, the entrepreneur will first examine and study the system, because a flaw in the system will produce a flawed outcome each and every time. Designing, implementing and perfecting systems is one of the most useful and rewarding skills an entrepreneur possesses.
6) DedicationOne of the biggest reasons companies fail is because they lose focus. Target a goal, clarify the objective, refine the brand, and narrow the margin of error.
Entrepreneurs dedicate themselves to the fulfilment of their plans, visions and dreams. They are committed to a positive outcome and are single-minded in their dedication to the task, regardless of the effort required. It is their tenacity of purpose that galvanizes the organisation.
7) GratefulBeing grateful opens us up to receive more to be grateful for. Those who are grateful appreciate what they are given; they respect it and nurture it. They do their best to make it grow instead of allowing it to dwindle away due to neglect.
Because they know not to take anything for granted, entrepreneurs are flexible and capable of adapting to the changing demands of their environment. They also understand that riches and wealth is not about “stuff”, but about fulfilment, satisfaction and the pleasure that comes from their accomplishments and contributions.
8) A leader by exampleLeading by example, entrepreneurs are enthusiastic self-starters capable of motivating themselves and others. They understand the need to appreciate others, support them and reward them accordingly and never squander the potential of those working under their guidance.
True leaders are never indispensable. If any part of their business is threatened by their absence it will limit their ability to rise to the highest level of entrepreneurial freedom and prosperity. As renowned business consultant and retired United States Air Force Major General Perry M. Smith once wrote: “Leaders who share their power and their time can accomplish extraordinary things. The best leaders understand that leadership is the liberation of talent; hence they gain power not only by constantly giving it away, but also by not grabbing it back.”
9) Risk takerEntrepreneurs are not immune to the fear of risk, but they balance their approach to life so that the fear of failure, frustration, boredom, drudgery and dissatisfaction outweighs the fear of risk. Many more people could be successful if they took more chances.
Employees on the other hand lack the perseverance and ambition of an entrepreneur. The employee mindset is preoccupied with a need for security; clinging to the familiar even if it means the denial of their dreams.
10) GregariousBecause business is all about people, entrepreneurs tend to be socially outgoing. They get excited about sharing ideas, products and services. That excitement is contagious to their employees, clients, friends and other contacts within and beyond the business sphere.
Entrepreneurs also relish the unique opportunity to have fun doing something they love as their primary vocation. Human resource experts, career counsellors, and business psychologists all agree that those who do jobs they enjoy and are good at have higher rates of success and broader measures of satisfaction.
In conclusion, entrepreneurs view setbacks as bargain-priced tuition for the valuable business lessons gained through firsthand experience. Any shortcomings, failures, or disappointments are relegated to the past so that they cannot continue to haunt the present or obstruct the future.
And when things go right and business prospers, this further fuels the optimism and positive mindset of the entrepreneur, giving them even greater impetus and momentum for further accomplishments.
www.actioncoachsa.co.za
pietercholtz@actioncoach.com
086 122 6224
Comments
Post a Comment