
I’m speaking at the Eddie Hobbs
“You and your Money” expo on Friday on the ten steps to setting up your own business. You can see a copy of the PowerPoint presentation by
clicking here. A list of useful sources of information can be seen by
clicking here.So what personal qualities does it take to be an entrepreneur?
Well there’s no magic profile of the personal qualities required for the perfect entrepreneur. People set up in business for so many reasons, from a drive to be their own boss, to a passion for a particular idea or increasingly to achieve a better work life balance.
However we can point to some attributes successful entrepreneurs commonly display.
Relationships with peopleSuccessful entrepreneurs tend to be independently minded and are prepared to follow their own approach, often ignoring common wisdom. They will ignore the people who say “
it can’t be done” and will be very resilient. Denis O Brien, the Telecoms billionaire came within half an hour of the banks pulling the plug on his loans.
They are often persuasive, enjoying selling and changing other people’s views.
They like to control, and are happy to be in the lead.
Feelings and emotionsThey are fairly focused and career centred, enjoying working to demanding targets. For example, Bill Gates dropped out of Harvard University to focus on developing computer software which was promised to a supplier – before it had been fully developed.
They dislike losing and can be fairly competitive.
Most successful entrepreneurs are self motivated and keep going even when they’ve achieved their financial goals. Irish examples include Michael O Leary of Ryanair, a multi millionaire many times but still looking for new challenges.
Thinking StyleThey tend to take a long term view, setting goals for the future with a very strategic perspective. Jeff Bezos the founder of Amazon.com would be in this category.
They are generally innovative, generating new ideas, they enjoy being creative and thinking up original solutions.
They are evaluative, critically evaluating information, looking for potential limitations, focusing in on solutions to problems.
The most successful entrepreneurs though are very self aware and self knowledgeable. They know how they are likely to react to different situations and they surround themselves with people who have strengths they lack. For example Richard Branson who is very much a visionary innovator, has an analyst type 2nd in command who develops the detail behind his vision.
Another good Irish example is a young insightful lad (whose name escapes me right now) who saw an opportunity when contraception was finally allowed into Ireland in 1979.
The only problem was he had was no funds! Undeterred by this he backpacked all the way to mainland Europe to a pre arranged meeting with the condom franchisers. On the day of the meeting, he changed into a good suit, rented a room in a swish hotel, arranged a limo to collect the franchisers' representatives, treated them to lunch, made his pitch and was awarded the contract for Ireland.
With the contract in his pocket he then backpacked back home again.
So if you’re considering setting up your own business and wondering whether you have the necessary personal qualities why not invest in a professional personality assessment?
Keywords
personal qualities entrepreneurcareer advice Dublincareer training Irelandyou & your money expo