Entrepreneurship is a unique field of business. It is practiced by many and mastered by few. It can be learned by anyone, but only certain people have the ability to be successful at it.
Entrepreneurs are unlike other people in business. Entrepreneurs are people in business who actually provide employment and opportunities to other business people. Their views on cash flow and income differ from fundamental theories in finance adhered to by finance executives. To entrepreneurs, risk is everything, and rather than working for money, money works for them. Entrepreneurs are emotionally attached to their companies, often referring to their businesses as their “babies”, while most people in business see their companies as financial tools or merely as paychecks.
No matter how disparate their reasons and motives for starting a business or their business ideas are, all entrepreneurs have entrepreneurial spirit, or motivation used to better themselves and/or others on their quest to achieve success.
Usually, entrepreneurs have both business sense and creativity. While there is no absolute list of qualities that describe the entrepreneurial spirit, common characteristics that entrepreneurs believe to be important in their own triumphs are:
- Ambition. Entrepreneurs often set lofty, yet attainable, goals and have the impetus and commitment to accomplish them.
- Focus. Entrepreneurs have a vision of what they want and are able to focus on the big picture.
- Perseverance. Most entrepreneurs do not have a “get rich quick” mentality, and they generally plan to reach their business goals in 10 or more years of starting their companies. They push for their goals with tenacity and perseverance despite any obstacles that may arise.
- Self-determination. The capability to control their own successes or failures drives entrepreneurs to work hard and do whatever it takes to achieve their ultimate dream.