Entrepreneurs are defined by a unique mindset that sets them apart from most business owners. While all entrepreneurs are business owners the reverse is simply not true. Why is that? Simply put, entrepreneurship is not simple or clear-cut and entrepreneurs have distinct traits that are critical to achieving success. There are a few key traits to understand exactly what separates entrepreneurs from established business owners.
Entrepreneurs have a different perspective.
It is true that business owners are fulfilling a need, however, entrepreneurs are focused on identifying a need that hasn’t been acknowledged yet. This means thinking outside of the box and having a great sense of innovation. While business owners must understand their demographic and competition, entrepreneurs must offer a product or service that people want but aren’t yet aware of.
Entrepreneurs are motivated by passion.
While it is not black and white, many business owners focus on the profit that can be produced. However, entrepreneurs are motivated by passion. Entrepreneurship takes dedication and personal discipline in a way that most businesses do not, thus the entrepreneur is more likely to care about their service or product in a more personal way.
Entrepreneurs embrace change.
It’s natural for people to resist change, however, it’s a part of life and in business, one must be able to handle the unexpected or new. Entrepreneurs embrace change. Furthermore, they develop the skills to anticipate change and are able to adapt and overcome obstacles and challenges without losing motivation. In fact, successful entrepreneurs will harness change in order to grow their passion.
Entrepreneurs build successful teams.
A major part of successful entrepreneurship is building the right team. Entrepreneurs know how to network, who to associate with, and how to create a great team. They select passionate, energetic individuals who have the necessary skills to help bring their vision to life. This means choosing people who have skill sets that they don’t possess, positive attitudes, and the ability to see things through.
Entrepreneurs take perseverance to the next level.
Business owners understand that perseverance is necessary to succeed, however, entrepreneurs take it to the next level. When you’re working on building something new there will be never-ending challenges and setbacks. Entrepreneurs are willing to accept the hard work and long hours and meet every problem with a solution and a good attitude. Entrepreneurs understand that it’s going to take major determination to get the job done and will bounce back every time something goes wrong.