Top 3 Essential Traits Every Entrepreneur Should Possess

By Steve Biko Wafula / Published April 25, 2023 | 8:29 am




KEY POINTS

Courage is essential for entrepreneurs because starting a business involves taking risks. Entrepreneurs who are willing to take calculated risks are more likely to succeed than those who are risk-averse.




KEY TAKEAWAYS


Creativity is a key trait for successful entrepreneurship because it allows entrepreneurs to differentiate themselves from the competition.

Creative entrepreneurs are able to see opportunities where others don't and come up with unique solutions to problems.


As an entrepreneur, you must possess three key traits that are essential for success: courage, determination, and creativity.

These traits will help you overcome challenges and achieve your goals.

Courage

Courage is essential for entrepreneurs because starting a business involves taking risks. Entrepreneurs who are willing to take calculated risks are more likely to succeed than those who are risk-averse.

Courageous entrepreneurs are not afraid of failure and are willing to learn from their mistakes. They are also able to make difficult decisions, such as pivoting their business strategy when necessary, and are able to handle uncertainty.

Taking risks is an inherent part of entrepreneurship, and having the courage to take those risks is crucial. Without it, you may not be willing to step outside your comfort zone, which can hinder your business’s growth. Courageous entrepreneurs are willing to face uncertainty, take calculated risks, and seize opportunities that others may overlook.

One example of a courageous entrepreneur is Tabitha Karanja, founder of Keroche Breweries, a beer company based in Kenya. She faced many challenges when starting her business, including opposition from established breweries and a lack of funding. However, she persisted and now her company is one of the largest breweries in Kenya.

Determination

Determination is also critical for success in entrepreneurship. Starting a business is not easy, and entrepreneurs will face many challenges along the way. Determined entrepreneurs are able to overcome these obstacles and stay focused on their goals. They have a strong work ethic and are willing to put in long hours to achieve success. They are also able to adapt to changes in the market and are constantly seeking ways to improve their business practices.

Entrepreneurship is not for the faint of heart. It takes perseverance and determination to see your vision through, especially during tough times. Determined entrepreneurs don’t give up easily and are willing to put in the hard work to achieve their goals.

One entrepreneur who exemplifies determination is Vimal Shah, founder of Bidco Africa, a consumer goods company based in Kenya. Despite facing many setbacks in the early days of his business, including a fire that destroyed his factory, he persevered and now his company is a leading manufacturer of household products in Africa.

Creativity

Creativity is a key trait for successful entrepreneurship because it allows entrepreneurs to differentiate themselves from the competition. Creative entrepreneurs are able to see opportunities where others don’t and come up with unique solutions to problems. They are not afraid to think outside the box and take risks with new ideas. Additionally, creative entrepreneurs are able to pivot their businesses in response to changing market conditions and customer needs.

Innovation is a cornerstone of entrepreneurship, and creativity is essential for coming up with new ideas and solutions. Creative entrepreneurs are able to see things from a different perspective and develop unique products or services that stand out from the competition.

Chris Kirubi, founder of Capital FM and a prominent Kenyan businessman, is a great example of a creative entrepreneur. He saw an opportunity to provide quality radio programming to Kenyans, and his station quickly became a popular source of news and entertainment.

In addition to these three traits, successful entrepreneurs also need to be adaptable and willing to learn from their mistakes. They should be able to pivot their strategies when necessary and continuously improve their business practices.

Furthermore, successful entrepreneurship requires a combination of courage, determination, and creativity. Entrepreneurs who possess these traits are more likely to overcome obstacles and achieve their goals. By cultivating these traits and constantly improving their business practices, entrepreneurs can increase their chances of success in the competitive world of business.

In conclusion, entrepreneurship requires courage, determination, and creativity. Successful entrepreneurs in Kenya, such as Tabitha Karanja, Vimal Shah, and Chris Kirubi, have embodied these traits and achieved great success. By cultivating these traits and being open to learning and adapting, you too can succeed as an entrepreneur.

Related Content: Why Your 20s Are The Best Time To Build Your Value And Bank Balance: Lessons From Famous Role Models




About Steve Biko Wafula

Steve Biko is the CEO OF Soko Directory and the founder of Hidalgo Group of Companies. Steve is currently developing his career in law, finance, entrepreneurship and digital consultancy; and has been implementing consultancy assignments for client organizations comprising of trainings besides capacity building in entrepreneurial matters.He can be reached on: +254 20 510 1124 or Email: info@sokodirectory.com

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