You have a vision
It’s easy to look at Steve Jobs or Bill Gates and think that being an entrepreneur is all about making millions and becoming the biggest brand in the world. While that’s a worthy ambition, a successful business has to start with an idea. Entrepreneurs are skilled at recognising gaps in the market for a new product, identifying a demand that hasn’t been met or developing a new solution for an old problem.
You can focus on the future
While the present is important, successful entrepreneurs will also keep one eye on the future at all times. They anticipate upcoming challenges, opportunities and trends in order to ensure that they stay at the forefront of their industry and can respond quickly to changing customer and consumer needs.
You can take (calculated) risks
One word can be the difference between a successful and unsuccessful entrepreneur: calculated. Entrepreneurs take a risk based on careful thought or planning, not on emotion. Establishing and growing a business requires a certain amount of risk taking, but it’s important to distinguish between this and recklessness. A successful entrepreneur knows when to take risks, but also when to avoid them.
The ability to adapt to change is vital for success in the business world. Markets are unpredictable, as are people, and if an entrepreneur can accommodate and adapt to unexpected situations (rather than fight against them), it will only help him/her to succeed.
You have empathy
When people think of a successful entrepreneur, they sometimes imagine a ruthless figure who puts their own goals above the feelings of others. In reality, this is rarely the case. It’s important that employees, customers and shareholders feel that their voices matter and are being heard. The most successful business owners are those who can take the opinions and feelings of everyone involved in the business into account, and clearly communicate to them how they are working towards a shared vision.
Being your own boss means motivating yourself and not relying on others to do it for you. Entrepreneurs don’t have a manager to check on their progress, ensure they keep to their deadlines or lecture them if they’re late in the morning. It’s their responsibility to make sure that everything is running smoothly and work is delivered on time.
The key to staying motivated is passion. If you love your idea, then you’ll be even more determined for it to succeed.
You can embrace failure
Failure is an inevitable part of starting a business and becoming an entrepreneur. Those who can overcome it, and apply the lessons they learned to future experiences, are those who will succeed in the long-term. Instead of viewing failure as negative, entrepreneurs see it as an opportunity to improve.
There you have it: 7 signs that you could be an entrepreneur at heart. We hope this helps you identify the entrepreneur in you!
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- Publication date
- 2 August 2019
- European Labour Authority | Directorate-General for Employment, Social Affairs and Inclusion
- Business / EntrepreneurshipHints and tipsYouth
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