The internet entrepreneur buzz is bigger than ever as businesses and organisations try and keep up with the competitive environment today. Entrepreneurs are more essential to the economy than ever and in this article, we will take a look at the qualities of an entrepreneur, types of entrepreneurship, examples of top entrepreneurs and how Sinnaps, the project management app can support your entrepreneurial endeavours.
Índice
Entrepreneurial Skills
- Creative Thinking: Creative thinking is one of the most important qualities of an entrepreneur and most definitely forms part of the list of skills to succeed. Creative thinking allows people to think outside the box and to create products and services that help to improve living standards and that are different from what is being sold already.
- Leadership: Entrepreneurs need to be able to lead a team towards the vision that they have. After all, it is very hard to reach your entrepreneurial goals alone and it is good to have a competent team behind you- with that comes the need for good leadership skills. Sinnaps project planning tool allows you to effectively organise and manage your team and the work that they are doing.
- Risk Taking: Entrepreneurs need to be more open to taking risks as much of the time their ideas have not been tried and tested and they will be the first to do so. However having said that, risks need to be calculated and with the risk management tool offered by Sinnaps, it’s easier than ever!
- Good Work Ethic: The truth is that being an entrepreneur and taking on an entrepreneurial venture requires a lot of work and dedication. Having a good work ethic is one of the most important entrepreneurial skills. In the long term, hard work will definitely pay off, so having a strong work ethic in the first place is essential to reach goals.
Top Entrepreneurs
There are many entrepreneurs in the world today that have reached great levels of success. Let’s take a look at two examples:
- Elon Musk is one of the top entrepreneurs who didn’t let the risks of entrepreneurship scare him away. He says that the main push for him becoming an entrepreneur was to change the world for the better. He has started companies such as Zip2 Corporation, Tesla and SpaceX and is regarded as one of the top entrepreneurs in the world.
- Jeff Bezos is the founder and CEO of Amazon, a company that revolutionised the nature of shopping and he is also regarded as one of the top entrepreneurs in the world. His entrepreneurial ability is centred around not being afraid of risks. Bezos has been widely admired for the daring and complex choices he’s made throughout his career.
Types of Entrepreneurship
Apart from specific sector entrepreneurship such as engineering entrepreneurship or medical entrepreneurship, the types of entrepreneurship can be broken down in terms of scale:
- Small Business Entrepreneurship: Small businesses make up a significant proportion of the different types of entrepreneurship. Examples of these include grocery store, hairdressers, plumbers etc. The main entrepreneurial process here I to be your own boss, to make a living, but not to take over an industry anytime soon!
- Scalable Start-up Entrepreneurship: These are similar but different to small businesses in the sense that they start off like small businesses, but their aim and entrepreneurial culture is centred around expansion and investment to fuel that expansion.
- Large Company Entrepreneurship: This type of entrepreneur company tends to be big and seems to last forever, thanks to continuous innovation and adaptation to market demand. Acquisitions and mergers are also hallmarks for this type of strategic entrepreneurship.
- Social Entrepreneurship: The entrepreneurial activities involved in this case are centred around social improvements rather than expanding for profitability. These types of entrepreneurship can be non for profit, for profit or a hybrid.
Traits of an Entrepreneur
The following are examples of traits of successful entrepreneurs that accompany the skills needed to be an entrepreneur already discussed at the beginning of the article:
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- Solid leadership qualities, such as good communication and organisation.
- Intrinsically motivated.
- A person with integrity.
- Not afraid to fail and start again.
- Innovators.
- Understanding that you don’t know everything and need to continuously learn.
- Having a competitive spirit.
- Ability to network.
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In this article we covered the traits of an entrepreneur, entrepreneurial skills and the different types of entrepreneurship. If you have a new idea and are trying to bring it into reality. Try Sinnaps today and see for yourself how it can help you to effectively and efficiently manage your projects!
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