What it takes
I agree that entrepreneurship is not for everyone. Some of us are fiercely hungry while others are merely the help to run the show. However, once in a while, you will find that one individual ready to leave their cushy office-hour job and run wild, by being their own boss.
But what does it take to take that leap? That leap of faith and achieve success?
We have seen many eager beavers take that leap and have grown to be bigger than what we can imagine. They don’t just sit on an idea and deliberate, they act on it, no matter the circumstance because opportunities don’t come knocking every day.
As our very own clients, we are proud to have seen these entrepreneurs grow. And by paying close attention on their modus operandi, we have identified these 5 similar traits the successful entrepreneurs share. (The following was compiled via a pool of 20 clients, each with a yearly revenue of more than SGD $1 million and had only incorporated within the last 3 years.)
Determination is the most important skill that an entrepreneur should have, in our opinion. These folks are determined creatures. Stubborn as they may be, their business stops for no one, not even themselves.
Being able to communicate well and persuade others, be it to lead or sell, is another important skill an entrepreneur should have. Steve Jobs is a perfect example. Though he was an introvert and a geek, he had to step out of his shell to persuade and he excelled in it. So learn from one of the best persuaders in history and sell.
Having a rock star team is a necessity for any start up, and who better to lead the team than a great leader. Being a great leader allows the team to complete any task quickly and exactly the way it was planned, leaving little margin for error. A great leader will readily give a hand to the team when in need, guide and mentor.
Having a little luck on your side definitely helps in most cases. Not everything can be planned nor always be in your favour. There is no guarantee that an entrepreneur will ever break their lucky streak but our advice is to ride the wave once you see an opportunity coming, never waste it.
By having a certain amount of knowledge on finance will definitely be a bonus for any entrepreneur. Our clients had some education on finance and were careful with their expense and operating capital. They were against unnecessary spending and had learnt to obtain the relevant grants that a Singapore company entitles them to.
Ultimately, even with the above 5 traits, you won’t know how awesome you are without first taking that leap of faith. Here at HCCS, we guide and offer the best professional advice one could seek. So why not take that leap and we’ll be by your side.