This is one part of an ongoing series on www.entpathways.com.
Our curricula, Entrepreneur Journey, focuses on teaching high school students how to become entrepreneurs. One part of the curricula is devoted to the traits of an entrepreneur. In our past blogs, we’ve highlighted the traits entrepreneurs do have – whether they were born with them or developed these traits over time.
Now, let’s discuss some traits an entrepreneur should absolutely not possess.
Lack Of Follow-Through
90% of the work takes place in the last 10% of the task. If you can't finish a project, being successful as an entrepreneur will be impossible.
Some individuals may believe starting a company is as easy as coming up with an idea and letting the money roll in. But you must drill down into the separate tasks and steps required to accomplish a goal.
Devoted To The Idea, But Not The Action
Sometimes people talk about a plan or idea but never take the steps to execute it. The execution becomes messy, while the idea in their heads was pure. So they never fully take the leap.
Lacking Real-World Perspective
Confidence is important, but an entrepreneur can't believe big things will happen every time they act. Simply because you build a website does not mean people will visit or buy your product. You must have an understanding of the work needed to meet objectives.
A perfectionist is someone who must have their work exact (or, well, perfect) before moving onto the next step. Entrepreneurship is about moving fast to complete a task, then moving on to the next task. Although the result may not be exactly how you want it, it was the best you can do with the time and resources available.
Think about the iPhone. The first version wasn't perfect, but the product keeps improving with later versions.
Truth be told, some individuals open a business to hide taxes, undermine an associate, or hide money from a spouse. This type of entrepreneurship is likely to be unsuccessful as the founder isn't actually dedicated to his or her company or products.
Like everyone else, successful entrepreneurs want to make money. But they also want the accomplishment of bringing their vision to life.
Inventor Rather Than Entrepreneur
Inventors create gadgets, but they may lack the understanding to create a business model. Some inventors can become entrepreneurs, but they need to master the entrepreneurial skill set. Other inventors partner with someone with a business mindset.
Think of Steve Jobs and Steve Wozniak, Hewlett and Packard, and Gates and Ballmer. Inventors matching with entrepreneurs have created some of our greatest success stories.
The Great Wall Of Entrepreneurship
The obstacles entrepreneurs face when creating a business are not small – they intimidate many and keep them from pursuing new businesses. But entrepreneurs can succeed if they build their skill set, take the challenge, and come up with creative solutions.
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