Entrepreneurship no doubt is a very beneficial ideal when it comes to making money through individual talent. This is perhaps the most attractive feature which compels many of the pros in different industries to shun their trivial jobs and enter into the grand race. Just like every other competition, entrepreneurial competition is not an easy battle to win. You need to invest yourself fully in the accomplishment of goals set by you.
The pivotal principle of entrepreneurship
Though entrepreneurship is composed of various tenets, many big and few small. However, some of the principles are so important that without acting upon them, you can never expect success in the business market because these are the deciding factors that decide your fate. One of the many pivotal principles of entrepreneurship deals with the mastery of leadership skills.
Leadership and entrepreneurial world
Apparently, the word seems easier when we describe it in terms of an individual who takes the lead and shows others the right direction in which they reach their due destination. However, leadership in the business world, specifically in the entrepreneurial environment is quite complex because here the path is not composed of the unifying ladders which end in one certain direction but here the path is full of twists and turns.
One careless step and all the reputation of your venture can become tarnish and the innovation ends at some deepest corner of the entrepreneurial circle. So, being a leader over here is more difficult than one can expect.
Significance of leadership skills
An entrepreneur is the main mind behind an entrepreneurial venture. That also means that he is the one who is having a closer look at all the affairs of the venture, delegating duties to the team, monitoring their respective performances, organizing the team, arranging the resources, and taking decisions that are logical and beneficial for the startup. Everything cannot be done by everyone, however when you become the head of a venture, it becomes essential for you to master all these arts, otherwise, you won’t be surviving a day in this competitive atmosphere.
10 most essential leadership characteristics
Among the macroscopic and microscopic precepts of entrepreneurship, it becomes more than essential to find a balance between both so that the duties of an entrepreneur as a leader won’t compete within the organization and outside the organization. Equal balance between both is the key to success. A good entrepreneur is one who always looks at the internal conditions and then decides for action in the world outside the organization.
In this article, we have listed the ten most important entrepreneurship leadership characteristics which should not be neglected at any cost or else it will cost a lot to the venture.
- Be visionary
- Think wisely
- Decide justly
- Observe keenly
- Talk confidently
- Work supportively
- Grow slowly
- Learn gradually
- Share openly
- Praise honestly
- Â Â Entering with a vision
When you were a child, you must have dreamed about a lot of things and you had worked hard somehow to get them even if it was a good grade, a bicycle or some ambition. A vision was there all along with you which traveled at its fixed pace and observed you working in silence for its achievement. This is what entrepreneurship actually means: i-e working for something that you have dreamed of, something of which you had a fixed vision in your mind and you never stopped, no matter if the path was short or too long.
A good leader has always a specific vision in mind for which all the efforts are done. It is essential for every business venture that a specific mission should be right there in the mind so that as a leader you would be having an idea about the direction in which you are leading your business. Remember that! Directionless business ventures mostly fail because of the lack of spirit which should be present in the first place.
- Â Â Wisdom as the food of your thoughts
You are an innovator, the creator of the entire business idea. This means something huge is expected from you. You cannot take the risk of stepping over the idiotic bricks after coming a long way. One single failure from your side and all the company would turn into a disaster. You all must have seen many grand ventures turning into a tale of bygone days in no time because of one foolish mistake from the leading head.
It is very essential for you to plan every step carefully and minimize the chance of failure. Business ideas are never easy to actualize. Only a person with a staunch level of wisdom can turn mere plans into reality and the reality which stands with all its glory for decades, setting an example for those who are yet to come.
- Â Â Justice among your team decisions
You are not just a leader but an individual who is holding a great burden of deciding justly amid the team. A lot of entrepreneurs commit these mistakes of sidelining one specific individual or giving priority to a particular one. This creates a negative image of yours among your own team who will silently arrange the demise of the entire venture by their own hands.
It is necessary for you to do your best to prevent such Brutuses in your own company because then you can’t blame a single person but the entire organization would automatically become liable for accusations.
- Â Â Keen observations
An entrepreneur is the one who looks for opportunities, but a leader is the one who observes the possible benefit of every single opportunity. It is this observation that takes one to the top among the rivals. When you start observing every opportunity from the perspective of your business venture, you are evaluating the possible chances of success if you grab that very opportunity.
In the business world, opportunities might be a lot but the fruitful ones need utmost keenness and activeness to be sorted out. So, once you are able to pick the fruit of your own choice, the need for fretting further over the opportunities ends here, and work on the action plan starts right there.
- Â Â Confidence and communication
Charismatic entrepreneurs are amazing speakers and amusing individuals. They are the ones who are credible in taking entire credit for the success of a venture. It is because they are the ones who have actually talked to the world about their ideas, they have preached the innovation far and wide with such unshaken confidence that even the rivals agree to their agendas.
The confident leaders are the sole assets of a successful business venture because for them the potential they possess is the biggest wealth. They never let someone raise a hand on the credibility of the ventures because they know they have all the answers one needs to listen to.
- Â Â Being the support system
Just the way a good general is the soul of an entire army, a good leader is the support system of the entire team. It is because the passion of the leader is one thing that reflects in the blood and the bones of the team. When a leader is passionate to serve for as long as he can, the members of the team imitate their very leader. This is the secret of the success of the biggest entrepreneurial setups in the world because their CEOs are working 24/7 with resilience and zest. So, we have the results coming from their teams in the form of their successful businesses.
- Â Â Step by step growth
Whenever a setup is established, the foremost priority of the entrepreneur is to become successful in the blink of an eye. No one understands the reality that as a criterion of organic growth, success will come slowly but impressively. A fine reader is well aware of that so no hurry is shown towards taking the throne of the business hierarchy because the belief of perpetual success and ultimate authority lies there with all its might.
- Â Â Learning through the entire journey
Learning is such fun that the leaders take full interest in it. They know that learning will never end at any step and they don’t even try to stop this. They know that this learning will help them build their confidence and is going to grant them more than profit. A learned leader is a golden hen for the company. The pros know that already. They shape themselves into leaders who are interested in doing new experiments, for they know that every time the end result would be teaching them something necessarily required for the business throne.
- Â Â Sharing is caring
All the star leaders of the world are so generous that they do not hesitate to describe their journey from being nothing to the master of the world. They know that there are many who need to learn from their experiences and they are not reluctant to do one such thing. This attribute makes them not just a loveable leader of the very company but their idealization is universal. People wish to take their place because they know that these are the people who have tasted failure, success, and patience.
- Praise the praiseworthy
A leader is someone who knows the difference between competition and healthy competition. In the business world, healthy competition is their preference, setting aside personal grudges. They are open to appreciate every single entrepreneur who needs to be encouraged.
Their belief is that from the success of others, one should never become envious but rather try to learn a thing or two which could turn the individual into the successful one in the professional world. Hence whenever they find a competition, they never get afraid but rather praise the tremendous idea which is trying to beat them.
Who can be an actual leader in the end?
There is not a specific set of codes or conduct which authorizes one to be a leader for all. An individual who believes his/her inner potential and knows that the real power lies in the effort is the one worthy of being called a true leader because this effort is what actually turns out to be the effort of the entire team due to the passionate nature of the head. At the end of the day, all you need to remember is that a leader is the one who knows to lead, and to lead one needs nothing but the sense of direction through a set vision in mind.
The author is an M.Phil scholar conducting her thesis in Literature. As a sucker for literature, she swoons over Greek and South Asian fiction while reviewing books in her spare time. Her love for writing has made her expand her subject matter and now she pens her opinions frequently on business, finance, entrepreneurship, lifestyle, history, and literature. For a special connection with entrepreneurship, she opens up the details occasionally about it.