4 Traits That Make Entrepreneurs Profitable for Investors
A famous quote by LinkedIn co-founder Reid Hoffman, “ All humans are entrepreneurs not because they should start companies but because the will to create is encoded in human DNA ” illustrates that entrepreneurial trait exists in every human.
Unfortunately, we often ignore this fact. The nature of being an entrepreneur means that you feel comfortable being confronted with challenges frequently and welcome ambiguity confidently. To be a successful entrepreneur you need to don up lots of hats and especially if your company is a startup.
Initially, all beginners assume that investors hunt for the entrepreneurs with best business plan describing the path for growth and solid facts of the business that can make or break the business. But, another bunch of factors equally significant for most investors, all resides in your personality. An adroit personality can turn a decent idea into big success whereas the opportunities of success can breakdown if handled by a fallacious personality.
What makes a successful and extraordinary entrepreneur? Is it being born a genius? Is it carrying a Type-A temperament? Does it involve spending time on mending projects?
Everyone is not gifted a special intellect that can change the world. The huge success of Apple Inc., Drop Box proves that college dropouts are more likely to succeed than those best in academics. Steve Jobs, Arash Ferdowsi the co-founders of Apple Inc., Drop Box respectively validate the thought that it’s not necessary that only an overachiever can become a successful entrepreneur.
So, if you’re not an overachiever, what traits actually make the framework of a perfect entrepreneur? Let’s take a look what traits every individual willing to be an entrepreneur must bear beyond that perfect business plan to impress the investors;
Willingness to Work:
Entrepreneurs are not money-driven. They possess an unshakable focus on work, ability to either resolve a problem or make it simpler, strong vision to differentiate right and the wrong, robust attitude to work insane number of hours and a lot more. Excellence fuels the entrepreneur’s soul.
On observing a conversation between one of the successful entrepreneurs and an investor helped derive a conclusion that investors look for how excited and passionate an entrepreneur is about his/her idea. They look for the radiance that reflects a burning idea. Simply running down the numbers in a dry voice doesn’t help attain capital from investors.
According to research conducted by Tony Tjan and co-authors Richard Harrington and Tsun-Yan Hsieh, 65% of founders have been identified as driven by “heart.” Tjan also added that most entrepreneurs are fueled “by an unshakable sense of purpose.”
Investors will immediately show their back if you’ll fall in like a desperate salesman eager to grab capital. The investors are well-to-do and wealthy people. They have already been reached out by some of the smart alecs and swindlers in the industry. Fake presentation of your identity can turn down the success chance of that perfect business deal. It is better to honestly admit your flaws rather trying to hide them throughout your communication.
Thinking of investors as source of cash can close the doors of a great opportunity. The aim must be guidance and networking rather focusing on seizing cash. You need to show investors that you firmly believe in your business plan and can make it happen.
Investors hold a strong experience and have imbibed a lot through the school of adversities and hardships. This enables them to be great mentors. They often own a vast capital of specialized networks that may open the doors for new opportunities. Investors observe that whether the individual is skilled enough to know when thing is misled and capable enough to seize opportunities.
Failure is certain in the path of entrepreneurship. The ability to rise above any downfall without loss of enthusiasm resides in the entrepreneur’s soul. They possess ability to bounce back from hardships and are competent enough to thrive in puzzling business situations. They learn from failures and wipe out the negativity.
Every beginner faces setbacks while stepping up the ladder of entrepreneurship. Superior performance and high reliability under stressful situation builds the framework of entrepreneurs.
They don’t give up to the setbacks. How can I win next time? What mistakes occurred? How can I stay away from mistakes? They examine carefully their mistakes. They maintain persistence in stressful situation and fight back the tough times. They reconstruct operations when confronted with unanticipated situations. Also, analyze whether the plan is market-ready or not and consider the investment needs of the great “business idea”.
The hunger for success should get reflected in the eyes of entrepreneurs. They need to reflect the eagerness to make and grow money. Also, investors look out for how effectively various aspects of your business plan have been covered.
Why would a stranger invest in your plan? The willingness to implement the plan and its success rate is determined by how much money, time and effort has been invested in the “business idea”.
All the aspects of the business plan need to be documented as it helps to determine how many resources and how much capital is required for the success of plan which later on avoids the chaos associated with the management of the plan.
Wrapping it up:
Entrepreneurship changes you, however, for a better life. It’s a challenging, exciting and rewarding journey. Not everyone is born to be an entrepreneur. It pays hard to create something bigger. And an entrepreneur is born with that trait.
Entrepreneurs breathe a balanced life that is a marked by success, growth, happiness, change, insecurities, disappointments, confusion and above all contentment. Of course, this applies to everyone’s life but the entrepreneur embraces a life which is marked by much higher highs and lower lows.
Doesn’t matter even if you encounter failure while stepping up the entrepreneurship ladder, with the right approach and will you can be the next ‘Great Entrepreneur’.
Author Bio :
Shraddha Tewari, a skilled and accomplished ‘Editor’ holds a strong command of cloud technology and its endless applications beneficial to simplify the business processes. She believes in the world with least hardware, endless mobility, and interminable connectivity. This belief persuades her to explore more on cloud technology and share her experiences through TheRealPBXblogs.