The Secret Entrepreneur: 5 Things To Look Out For

Starting and running a successful business requires many things such as an innovative idea and startup funding. Perhaps none of these ingredients, however, is as important as the entrepreneur themselves, who takes charge of the idea and turns it into a fully operational business. 

Here are 5 signs that you might be an entrepreneur – and not even know it!

You like to tinker

The propensity to tinker is a characteristic shared by many entrepreneurs, and involves both tactical and intellectual experimentation. Building castles from lego, restructuring the filtration system for your fish tank, and creating new website pop-ups are all examples of tinkering. Because there is no fear of getting it wrong, and no financial or personal risk involved, tinkering is entirely self-motivated and highly engaging. The instinct to use your imagination, daydream, build and explore without a particular outcome in mind is one sign that you might just be an entrepreneur! 

You strive to be efficient

At the end of the day, entrepreneurs are problem-solvers. They want to create products and services that solve problems for consumers more efficiently than current market offerings. Striving for efficiency is a characteristic that some, but not all, entrepreneurs possess. Luckily, it’s a skill that can be cultivated with a little bit of elbow-grease. Developing strategic thinking skills, along with tinkering, can go a long way towards equipping you to spot opportunity. 

You care more about output than input 

Being an entrepreneur is hard work: it usually involves long hours and unpredictable work schedules, as well as financial and personal precarity. At the end of the day, however, they consistently put in whatever work is necessary to get their idea up and running. Ultimately, entrepreneurs are successful because they are propelled forward by the prospect of achieving their goals, and are willing to fully commit to their ideas. 

You are more interested in long term goals than short term gain

Although the early stages of running a business are crucial to its success, the process doesn’t end once the business becomes fully operational. Remaining passionate about your company and involved in it’s processes can help you discover new opportunities after your launch, and contribute to long term profitability and growth. 

You feel like you could overcome failure or see rejection as an opportunity to do better

In addition to caring more about output than input, and focusing on long term goals, entrepreneurs require a certain level of comfort with failure and rejection. It’s estimated that as many as 75% of new startup companies fail. The reasons these companies fail are varied; an ill-thought out business plan, a lack of motivation, and decreased funding are all possibilities. While some of these risks can be mitigated or avoided, some of them are unavoidable. Entrepreneurs that are successful are prepared for failure, and aren’t held back by fear. 

Becoming an entrepreneur and starting your own business is an incredible opportunity, but also a tremendous challenge, and it takes certain qualities to achieve success. Time, experience and training can help you to amass the skills you need to develop important characteristics and behaviours.