The term "entrepreneur" is grossly over-used these days. Here are five ways to know if you're really an entrepreneur, or if you're merely successful in your business.
1.You were born that way.
Anyone can learn business skills, but an entrepreneur has inherent characteristics that others just don't have. These include being focused, logical, analytical, driven, forward-thinking, committed and accountable. It's easy to conceptualize a million-dollar idea, but making it happen is hard.You can write the best business plan in the world, but if you don't have the gusto to slog it out and make it a reality, it will never take you anywhere. This is where personal characteristics are crucial. Decide what success means to you and go after it.
2.You tread a new path with marketing
You would never consider spruiking your business via traditional methods if you're an entrepreneur. You communicate in new ways.
entrepreneur is someone prepared to take calculated risks when it comes to marketing. This approach can have exciting outcomes, particularly for smaller companies on a start-up budget. They value marketing and understand that it's critical to the success of their venture and are open to new ideas.
When an entrepreneur considers marketing, they put less weight on what their competitors are doing or what is accepted practice and instead considers how innovation in creative and media channels can help solve their business problems and engage customers, However, this doesn't mean defaulting to the new and low-cost marketing options, which can have its drawbacks if not properly considered as part of an overall marketing plan. The lure of interactive, with a constant feedback loop, can cause more traditional methods to be overlooked, even where they could offer traction in the market.
3.You never give up
"No" isn't a word in your vocabulary. If at first you don't succeed, you'll try and try again. If you hit a brick wall, you climb it and keep on walking.
Entrepreneurs don't understand the concept of failure, never give up and don't compromise until they've achieved their goals.
To ensure you're on the path of success, plan for the future effectively and know where you want to be in six months, 12 months, two years and five years.
It is important that you have an exit plan. You cannot run a business if you don't know where you want it to go, unless you eventually want to sell your business, be acquired, be floated on the stock exchange, purchase other companies or seek investors.
4.You're not motivated by wealth.
Entrepreneurs are motivated by the process of creation itself and want to create something where there was nothing. It's certain an entrepreneur's business must become sustainable and profitable, but that's the happy side-effect of the true, overwhelming drive of the entrepreneur.
They are prepared to quit their jobs, put strain on their family and often go for periods without a stable salary. And in return they get to see their passion become a reality. They get to see progress. Their lives gain extra meaning from the production of outcomes, rather than financial rewards of friendly words from the boss.
5.You challenge the status quo
Business people might be hugely successful and make mountains of money but, mostly, they're walking a well-trodden path created by those before them. Entrepreneurs, on the other hand, heads off the beaten track to create a new path and they love to take risks. Entrepreneurs bring new products and services to market and commercialize new technologies.
Many occupations and professions require passion and persistence, therefore, entrepreneurship is a process and a skill you can acquire. Entrepreneurs are often far more disruptive and engage more readily in a process of trial and error.