The paper " What It Takes to Be an Entrepreneur" is a great example of a Management Essay. Entrepreneurship requires a delicate balance between skill and qualities, and the right attitude. It is not as simple as it is made out to be, but with hard work and the right approach, becomes one of the most fulfilling experiences. It is important for an entrepreneur to realize what it takes to succeed. First, success in business, especially when starting off, is all about finding a gap in the service sector and filling it.
Entrepreneurship is about thinking about a problem and thinking about how to solve it. It might be an obvious problem or one that not many have thought of. The success of the enterprise depends on how potent the solution the business provides. Some problems have many dimensions, though. It is important for the entrepreneur to focus on just a single dimension of the problem. Entrepreneurship requires passion and a strong work ethic. At the beginning at least, the days will definitely be longer than the conventional working day (White & White 2014).
There will be challenges, anticipated and otherwise. It requires a strong work ethic, dedication, and commitment. The reason the most successful startups achieved the astronomical levels of success is the fact that their founders were doing the things they loved the most. Only ideas and topics one is passionate about can have them working 80 hours a week. The best entrepreneurs think about and plan for the future. Even when they start small, they must think about their long and short term plans for the future. Thinking about the future involves the set goals, realistically achievable goals, and being able to track the progress of the business.
Planning for the future involves being progress-oriented. One must not simply work for the sake of starting the business but must think about moving forward. Goal setting and progress require a sounding board. The best way to go about this is to have a strong business plan from the beginning, a point of reference that one can use to gauge whether they are going in the right direction. Even for those who go into business in a field that they are passionate about, the business landscape often has many lessons.
It is important for the entrepreneur to be open-minded when they get into the business. They must realize that even though it is their baby, they will likely not be able to do everything, and must seek the help of others. The best entrepreneurs understand the value of looking for the best help they can find. In the course of the startup process, mistakes will happen. The entrepreneur must be open to these and learn from them. One of the most important attributes of a successful entrepreneur is adaptability.
Entrepreneurship is a difficult journey, and being non-conventional does not always receive support from everyone. The entrepreneur must have the ability to block out the naysayers and take in constructive criticism. It is almost a guarantee that not everything will go according to plan. Not all the plans or prototypes will receive as much reception as anticipated. However, the entrepreneur must be adaptable to their business environment. In the same way, they will likely stumble upon things that work that they did not expect.
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