Characteristics of Successful Entrepreneurs.


By Okello Okello

1. Fun
Work place should be a conducive environment and successful entrepreneurs learn how to have fun despite the mundane tasks they are working on. Speaking from experience as as a founder and Executive Director of an International Christian Not-for-Profit Relief Organization,  drafting our organization bylaws and doing all the paper work was the most boring part of work I have done. However, I looked at the end goal of why I was starting the organization and stayed focus on that single goal. For more than 3 months, I woke up, did research, write the whole day and go to bed. As a music lover, I enjoyed my work with R&B music in the background. If you love Jazz, Rock, Metal, Dance, Dub-step, play it and make your work environment a fan place to be in.

2. Focus
This might sound rude, but nobody is going to tell you to be serious in whatever you are doing if you are an entrepreneur. Take your work seriously and give it your best. If you get frustrated, because you will, then take a break and come back energized and give it another good shot. It is upon you to perfect your pitch and idea  before any body else give you a minute of their sweet time to listen to you. Once again, remember to focus and do it well.

3. Time Management
We are all given 24 hours in a day by God. Whether you are Bill Gates or the poorest president Jose Mujica of Uruguay. Planning your time will take you far and remember not to have more than six items on your to-do list everyday. Remember to have at least 30 minutes of exercise because your body and brain works better if your are healthy.

4. Finance Management
This is a challenge to so many entrepreneurs. As a start-up, you really do not earn a lot so track your expenditure to the penny. Simple investment rule; “Never spend more than you earn.” Remember, It takes a while before a start-up can even pay simple bill as a phone bill. Use your money wisely. I will also encourage you to give back to God what you think he deserves. I know so many people give 10% but I am not going to encourage or discourage you to continue giving. Just give what you think is worthy to give back to God.

5. Do it for Your Clients
Let me jump into my morality and ethics books and pull one of the oldest rule, “the golden rule.” Put your self into your customers shoes, if you were the customer, do you think you will be satisfied by the good or services you are purchasing? If your answer is yes, then please continue with the same spirit. If your answer is no, then I don’t think I have to tell you what to do. Always put your customers first even in background operations like accounting, promotion, designing unless you are creating your own product or service to use at home.

6. Go for Nothing Less
My assumption now is that you already have your mission, vision and value statements written. Work with those, try challenging things, pick that phone and do a cold call, send that email to customer asking them why they are not satisfied with your product, update your books, and if you are running a Not-for-Profit organization, ask that donor to support your project. Always challenge your guts and try something that gives you chills in your spine.

7. Get Impeccable Business Team.
Successful entrepreneurs never do it a lone. They have mentors, business advisers, role models, partners, and they have a broad and healthy network with people who can share the reality of the markets they are in. If you are picking your team, work with skilled and efficient team. (Check this link to know who to hire )

8. Create a Competitive Edge.
What differentiates you from any other service provider out there? What is so unique in your product that can me forget about the already existing brands just so I can have your product on my table? This can range from chemical composition of the product you are selling or promoting to price. Always have a unique identity that puts you a head of the game.

9. Educate Yourself.
They say learning never stops. Re-invent your self, learn new things, read those magazines, posters, newspapers, subscribe to this post 😉 do research online, read books, sign up for seminars, take online courses. The list is endless. It is only when you admit that you do not know a lot that you open more learning opportunities to your self. Just do it!

10. Sleep.

Most entrepreneurs and nerds are workaholics, gets frustrated a lot and easily, are night owls, and always suffer from depression. Stop drinking that coffee late at night and give your self a break. Relax, enjoy a good night rest and wake up productive and do it like you never did it before.

Please subscribe to this blog, comment, like and send me questions on what you would like to see me write about. Either in leadership, economics or Not-for-Profit Organization management.

2 thoughts on “Characteristics of Successful Entrepreneurs.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s