As an entrepreneur, there’s a lot you have to manage. It doesn’t work just to have a great idea and roll with it. You also have to be good at delegating a team. But it is more complex than simply being tough on your employees. It is often debated whether entrepreneurship is something you are born with or something you can acquire. Whether or not you need to be born with the qualities, there certainly are a few qualities necessary to being a top notch leader in the world on entrepreneurship. Here are three of the essential qualities of an entrepreneurial leader according toTodd Warren.
1. Dissatisfaction with the present and visions for the future
Anybody who wants to lead change has to be dissatisfied with the present. After all, isn’t that why one would want change? To be a great entrepreneurial leader, one needs to have something he or she wants to change and have a vision for the way things should be in the future. It is also essential that a good leader has an idea of the first steps that need to be taken to achieve this change. One example of a leader who operated this way is Bill Gates. Gates began in the late 70’s with the radical idea that software itself could be a business, and he expressed his dissatisfaction that it wasn’t. He also had the idea that software could impact the world. He saw the potential of PC’s and of software a business and he took the first steps, building software for the hobby computer market of the time. If an entrepreneur sees a problem with the current world, envisions a better future, and takes the beginning steps to get there, than that person is meant to lead.
2. Being aware of your unfair advantages and using them
Many successful entrepreneurs use their unfair advantages as a stepping stone to build their expertise. This process is referred to as “Effectuation”, a term coined by Dr. Saras Sarasvathy at the University of Virginia. For example, Bill Gates used BASIC and then extended to operating systems when the opportunity arose. Then he branched into productivity and server software. Instead of looking elsewhere, strong entrepreneurial leaders look at what they already have as a means to move towards their goals.
3. The ability to get people on board who can contribute to the vision
A strong entrepreneur should be constantly recruiting. A dream cannot come to fruition unless the person behind the dream gets other people behind it too. Every new idea needs a number of passionate people working to make it a reality. This doesn’t just mean employees. An entrepreneur needs to recruit talent, advisors, consumers, and investors. Getting people from your company is just as important as having an innovative idea, if not more important.
Entrepreneurship may be partially about luck, but there is also a lot that an aspiring entrepreneur can do to improve his or her chances of reaching success. One important aspect of entrepreneurship is leadership. Each successful leader is a little different, but the three qualities outlined above are key to becoming a successful leader in the entrepreneurial field.