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Who rules the roost, men or women?
John Lincoln from du tells us about the art of entrepreneurship and whether its men or women that make better entrepreneurs...
October 7, 2012 11:00 by kippreport
John Lincoln is the Vice President of Enterprise Marketing at Emirates Integrated Telecommunications Company (du). You can contact him at [email protected] or tweet him via @lincolnjc, or visit http://www.johnlincoln.biz
The traits of good and successful entrepreneurs
Once you have a great idea, there is a unique set of personality traits that are required. These personality traits will separate the men from the boys, the women from the girls or even the women from the men.
Behavioural and personality traits that are required for successful entrepreneurship are:
Interpersonal and verbal communications skills
All business is about People to People (P2P). Good communications and interpersonal relationships among all stakeholders including customers, employees, partners and shareholders and suppliers are essential to the success of any business.
A keen intuitive mindset
Decisions often have to be made on the cuff. A right or wrong decision would determine whether the business will survive or not. Having a keen intuitive sense is therefore essential for entrepreneurs.
Good listening skills
Good listening skills are a must for entrepreneurs. Often what is said and intended are not the same. Understanding the nuances is especially imperative in the current age of globalisation and transmigration of cultures from different parts of the world.
Abstract or inductive reasoning is the ability to analyze information and solve problems in a complex, thought based level. Entrepreneurship requires the ability to detect patterns, trends, and understanding relationships between verbal and non verbal ideas.
Small businesses and entrepreneurs do not have the budget for an army of research consultants to identify changes in customer needs, opportunities and threats. Successful entrepreneurs have this innate ability to see at the periphery when signals are weak at best.
Good entrepreneurship requires prudent and calculated risk taking. It requires a long term view, taking into account all stakeholders, including knowledge and best practice sharing so that employees and other shareholders are well equipped to sustain in the long haul.
The Japanese concept of ‘Kaizen’, or continuous improvement, means that you cannot rest on your laurels. Good entrepreneurship requires you to be receptive to other’s ideas, and requires a balanced dosage of tampered self-appraisal and self-critical abilities.
Entrepreneurs during the early stage of a business often have to address multiple aspects of their business. Due to the innate nature of small businesses limited resource availability, good entrepreneurship requires this very important but often ignored capability.
Endurance and detailed orientation
Due to the limited resource capability of small businesses, good entrepreneurship requires that the entrepreneur be healthy and able to do monotonous tasks. Most entrepreneurs have to be independent and be able to be detailed oriented and operational. Entrepreneurs can’t survive with just ‘big picture’ thinking capabilities.