I should have dissected the mental make up of an entrepreneur long back on this blog. It is after all one of the perquisites of success in business, whether done online or off it. Thanks to my friends, colleagues and the net I have been fortunate to have interacted with a few entrepreneurial minds over the years. And being an impulsive imitator, I used to try and figure out what is the secret behind their thought as well as their general success. This post is a compiled conclusion of those thoughts.

TSF - The Seven Facts

1. Energy
2. Vision
3. Decision Making
4. Self Confidence
5. Optmism
6. Initiative
7. People’s Person

While breaking these down individually, we will see that in way all of them act as cause and effect to each other. These also pave way for a lot of other qualities that entrepreneurs imbibe which we will discuss later.

Energy

Energy and the drive for achievement is the cradle of entrepreneurship. Entrepreneurs are change agents, and it comes naturally for them to be active and driven. Most of us are not satisfied with the way work is done. This is the same case with entrepreneurs, however with their dynamism they get up and do something about it.

They are bubbling with energy to put into practice what they feel is the best way to get a certain job done. And they reap the benefits of doing it right. If you plan to start a business, make sure you stop lazing around and procrastinating. It is not important to be fast, but you need to make sure you are making the most of your time. The best part of an energetic entrepreneur is it is infectious!

Vision

Vision and foresight is critical to run a business, especially in a fast changing media like the Internet. The dynamics of leadership are founded on vision, it paves the direction your business takes in the future. More importantly, it defines

“If a man take no thought about what is distant, he will find sorrow near at hand,” so said Confucious. Perhaps he had the vision to know that people will fail in the times to come for lack of foresight.

You need vision. Thinking out of the box helps you look at problems from different perspectives so as to solve them. However, with vision an entrepreneur foresees these problems beforehand to take precautions.

Decision Making

The ability to make decisions is a natural succession of vision and energy. Vision directs you and energy helps you put vision into practice. With this in mind it becomes easy to make decisions. So while laymen can just think of consequences, entrepreneurs act. They act because they know what their actions is going to lead them to.

Business survive on decision making. Every sale is a result of various decisions.

Self Confidence

More often than not entrepreneurs set sail against the winds of convention. They do the “never”. The fact is entrepreneurs are brimming with self confidence. They have more faith and trust in themselves than anyone else. That is the reason budding businessmen quit their job to do their own thing. They often walk this road alone and against all odds. The self confidence stems from ability and foresight they within, and it grows with their ability to make decisions. Anyone looking at building their Internet business needs to build self confidence.

Optimism

I have met more lucky entrepreneurs who struck gold in their first attempt than others. However I have learned much more from those who have failed and intrigued even more by them. The first failure did not stall them from trying again. In both cases I have seen most of them to be highly optimistic people. I have seen the eyes glint in some of them when they think of the opportunities that lie ahead.

I used to think it foolhardy of them not to consider the risks involved. However it now dawns upon me that their optimism is generated from the fact they see a possibility. And within that possibility they see a challenge, a challenge to meet that possibility. It feels something like I know there is a way, and the trick is to find it. With this in mind they set out to innovate and build a business.

The fact is you cannot take a business decision if you get bogged down by doubts and pessimism.

Initiative

Initiative helps you get into the eyes of people. As a business I can’t write enough on how important it is for it to get into the eyes of someone. I personally learned the importance of initiative after just finishing my high school. A coach said these words to me, and it has stayed with me ever since.

“…wherever you end up in life, you will be successful only if you grab responsibilities. It is not enough to do any job given to you well, you have to grab jobs and do them well..”

This sort of became my magnifying glass when I began studying successful entrepreneurs. I could see how true it was. Over the years I have added my own views to these words, including opportunities and creation to them. Successful entrepreneurs create opportunities for themselves when there ain’t anything to grab!

People’s Person

Entrepreneurship is to make optimum utilization of resources. With this in mind entrepreneurs also utilize people effectively and more importantly in an optimum way. Hiring the right people, knowing who is the best for a certain job and making them efficient and productive among many others is a hallmark of a good entrepreneur ad manager in general.

A good entrepreneur knows when, where and to whom to delegate work. He understands his limitations but importantly recognizes other people’s qualities. It would be wise for any of us wanting to build a business to learn and understand how to be a people’s person. This is as vital finance to grow a business.

And so..

.. we conclude this small but to my mind an effective talk on the fundamental framework of an entrepreneur. It was in a way a profile of the mind of an entrepreneur. I personally think these facts or qualities (anything you may wish to call it) need not necessarily be natural. I feel these can be developed with practice and understanding.

The best way to do so is to study people who are good at it. Evaluate yourself as to where you lack. It is obvious that if you don’t have any of these seven, you wouldn’t be reading this blog. I suggest that you take this test , which is basically a check list of what they consider essentials for an entrepreneur. It really does put a lot of things in perspective and more importantly for you doesn’t take more than 3 minutes!

Give it a shot and also let everyone know what in your opinion is an indistinguishable fact of an entrepreneur.

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