Have you got what it takes to be an Entrepreneur?

Everyone has read tales about how rich a lot of entrepreneurs are striking it these days so as you will expect many people are joining the bandwagon. Everyone wants to build a web 2.0 company or the next 1-800-flowers. I like your thirst and yearn for success and financial security, however not everyone is cut out for it. Not everyone is designed to be an entrepreneur because there are certain traits you must possess to succeed doing this. If you lack one or two of those, you might be wasting a lot of time and money.

Certain qualities will set you aside, so not to doubt anyone or put anyone off, you should ask yourself if these are qualities you believe you possess. They always come in handy.

An entrepreneur is a leader: Marc Andreessen of Netscape once pointed out that an entrepreneur is one who makes things happen. ” If you don’t assign people and tell them what to do, it won’t get done.” An entrepreneur must be one who can take charge and make decisions, if you lack these qualities then it is hard to see how you will succeed in this industry.

Are you a visionary? The most successful entrepreneurs and those that find the most luck with investors are those that see beyond others and know where “the ball will arrive at even before the pass is made, the destination of the game”. Popular investor Chris Sacca said in an interview that he was always looking to put money into ventures but he only wants ventures that are born out of vision, solving problems that affect millions on a daily basis that have yet to be pointed out. A true entrepreneur can see an opportunity and take it.

Are you a trooper or ‘give-upper’: It is in our nature as humans to get frustrated whenever things are not going our way so I am not going to sit here and say if you get frustrated then you will succeed or fail. I get frustrated a lot, but I keep going. If you are one to give up after a set back or two then you should start questioning your career path. As an entrepreneur you will receive a lot of NO! No from potential employees, no from investors, no from potential customers even before you get any yes. If in all of this you know how to tough it out and press on then thumbs up to you. Thomas Edison failed with the lightbulb 1,000 times and on the 1,001th try it lit up. When he was asked, he said he didn’t fail, he just discovered 1,000 times not to invent a light bulb. Always view your challenges in a similar light, don’t consider you setbacks as failures, instead look at them as lessons and please DO learn!

Really, are you lazy? No BS, are you? Ask yourself this question before you try to start anything. If you are lazy, you may need to change your habits and become more useful to yourself and hardworking too. I can tell you that I have had more all-nighters since being an entrepreneur than I did when I was in college. And trust me I did have a lot in school. I was a chemical engineering major, go figure. You must possess the zest and fight to want everything to work because the business is yours, if it fails you fail. Unlike in the corporate world where your coworker can pick up your slack and cover for you, it is not the case here…if you drop the ball, no one else can call the shots so your venture is shattered. If your goods need to ship by 7am and your team is not done packaging by 1am, you don’t leave until they are done. It is up to you to make what you want to make of your business.

Teach yourself some discipline mate: If you will rather go drinking/clubbing with your buddies on Thursday-college night or thirsty Tuesday while remixing your version of Asher Roth’s I love college than finish coding your iphone app, then discipline is top of your worries. I am not saying I don’t have a remix to that Asher Roth’s hit record, infact I have 3 but I write, record and sell them to myself in the shower or in the car. I have set priorities for myself and my business is first on that list. You must teach yourself to focus on the things that matter, if you want to be an entrepreneur then act like one. Prioritize and know when it’s time for work to take precedence.

Confidence: Confidence is key when building a startup. No investor will invest in you if you don’t seem confident in what you are offering. These investors have seen hundreds of people come in asking for money and they have learned to immediately tell those who are confident and those who aren’t. It’s just like a guy going up to an absolutely stunning lady and shivering in his spine at the sight of her utter beauty. When he starts to speak, a girl can tell if he’s confident or not, if he thinks he’s good enough or not and this is what typically triggers the first stage of attraction. It’s not any different with investors, believe in what you are selling then they can believe in you.

Set goals early on and fight to achieve them: If you are able to set goals and fight tooth and nail to bring your dreams to reality, this is what you are made for. Goals usually change a bit during the pursuit but ultimately your dreams are in the same path. If you are prepared to go all the way to succeed then you can beat your chest and be proud.