An entrepreneur is a person engaged in a business or in the formulation and implementation of an idea and hence reaps full benefits from its success or suffers when it fails.
The word “entrepreneur” is borrowed from the French language and it is believed to have been coined by the celebrated French Economist Jean-Baptiste Say in the year 1800. He defined an entrepreneur as “one who undertakes an enterprise, especially a contractor, acting as an intermediary between capital and labor.”
Essentially, entrepreneurs are those who start a new businesses or ideas and implement it according to the plan until it becomes a success story that can be embraced or copied by others. But are there any personality traits of an entrepreneur or for that matter a successful entrepreneur? Yes, for one to be a successful entrepreneur, he/she must possess certain unique traits that are a prerequisite for the success of the enterprise.
The key personality trait if an enterpreneur is that he must be self-driven and motivated to achieve the utmost in any endeavor he lays his hands on. This motivation should sometimes be to the point of being an obsession. Once he sets goals to be achieved, they must be achieved at any cost.
There is nothing that can be achieved without somebody breaking a sweat. Another important personality trait of an entrepreneur is that he must work hard to realize his goals. Working your socks off and setting your eyes on the prize is the only way to come out successfully as a businessman.
To embrace a business idea and work to implement it to fruition, one has to be a visionary. This is one of the very important personality traits of an entrepreneur. An entrepreneur must be farsighted and creative when laying the groundwork for his idea. This way, he/she focuses on the bigger and overall picture of the idea to be implemented and the vision brings the passion that drives the successful implementation of the initiative.
Another of important personality traits of an entrepreneur is that he has to be a strategist to implement properly an idea that has fermented well in his mind. This involves proper planning and figuring out that everything is in place and is done according to the laid down plan.
Entrepreneurs should be independent minded and always think outside the box. They should not be conformist who will be easily swept to toe the line for the sake of agreeing with conventions but rather self-thinkers who follow personal intuition at the expense of popular opinion.
Achievers are inundated with endless supply of resilience and oozes with commitment to achieve “to whatever it takes” attitude. Sometimes it takes a short time for an idea to be embraced or to sell to the intended clients but at other times, the entrepreneur must wait a little bit longer before the idea is accepted. Thus commitment and resilience are two other must have personality traits of an entrepreneur.
Any engagement has equal chances of succeeding or failing. Entrepreneurs must be risk takers who are aware that their ideas stand to succeed or fail because of reasons that are sometimes beyond their control. The higher the risk, the greater are the benefits. Although entrepreneurs need not take bigger risks as long as they have planned well what they want to do and roll it out as per the laid down plan.
These are the personality traits of an entrepreneur. Most famous and successful entrepreneurs have been found to posses these traits
The most important factor that determines the success of any business venture is visibility. The more visible your brand is, the better your chances of attracting consumers will be. And to increase your visibility, you need to have an effective marketing strategy in place. It is no different in case of online business. In the tech crazy world of today, almost everything is being done online. The online world has opened a vast number of oppurtunities for those who always thought of being an enterpreneur but lacked the finances to do so. Doing an online business requires minimum of capital investment and can give you the maximum results. But as with any other business, you require investment in terms of time while doing it over the internet.
Internet marketing is an essential thing if one is to succeed in the over crowded online market. The most basic and perhaps the most important internet marketing advice which anyone who is a someone will offer you is search engine optimization. Search engine optimization is the technique used while building and promoting a website so that the website gets displayed on the first page of a search engine. A effectively done search engine optimization can give you the essential visibility which all the businesses crave for. Another vital internet marketing advice which has evolved over the last three to four years is the use of social networking websites to market your product or service.
Social networking sites have become a rage over the last couple of years with everybody from celebrities to MNC’s using it as a platform to build their brand. Using social networking sites to build your consumer base is a sure shot way to gain eyeballs. Another foolproof internet marketing advice apart from the social media optimization is the use of discussion forums. Though social networking sites are the evolved form of discussion forums, but there are still a lot of discussion platforms over the internet which have a huge number of active users and visitors per day.
Tapping into this field, by posting related links to your website can help you garner traffic to your website. Apart from all this, the most essential internet marketing advice, which I purposely kept for the end is PATIENCE. It does not matter how much effort you have put into the above mentioned techniques, if you are not patient enough, you won’t bear the fruits of your labor. As they say- “Good things come to those who wait”.
There has never been a better time for the smart internet enterpreneur to make money online. Earning income online is sometimes like shooting fish in a barrel and anyone can take hold of one of the many business opportunities offered ? whether they have a lot of business experience or next to none ? and build a successful residual income business with little or no financial investment.
Owning a business with residual income is offers a huge advantage over one- time only businesses. While for -one time only businesses your profit ends with each sale, with residual income businesses you continue to profit from each sale long after the sale has been made.This is because each sale triggers a series of other profit generating activities with the result that the marketer continues to benefit from a sale long after it was made. Infact the earnings from such sales can continue to accrue even after the business is closed down. The result is that a single sale is worth much more than the initial value.
The most successful internet marketing enterpreneurs have discovered the power of residual income and will not market products that do not offer this benefit. If you desire to earn residual income you”ll be happy to know that using the Internet to do this is surprisingly simple. For instance, if you already owned an online business, all you need to do is joining some of the available affiliate programs that market products with residual income. This is an excellent way to create a separate income stream that requires little or no work from you and boosts the business you are already running. Becoming an affiliate is usually free and all you have to do is place a merchant”s link onto your website.
As visitors or customers click on your website link they are taken to the merchant and when they make a purchase, you get paid. As you become more successful, you will become qualified to be paid not just for sales made through your link but also for a program that will pay you for sending visitors to the merchant”s website, whether they make a purchase or not.
If you are just starting your internet business, success requires a little patience. This is because getting traffic to your site takes some time and does not happen instantly,inspite of claims of instant success by some people. Infact anyone who promises to give you instant internet success has lied to you. True success comes only by spending time, energy and sometimes money to promote your site and optimise it for search engine listings.
It has been found that the best way to consistently make money online is to generate several residual income streams. Little streams eventually become overflowing rivers and a what looks like modest income source when combined with other revenue sources can prove to become a decent online income.
It is better to join reputable affiliate programs and build long term relationships with them rather to hop from merchant to merchant in the hope of quick gain. Residual income works best with consistency, and short term affiliation produces short term income which is very limiting.
When you first start earning money online, consider reinvesting part of it in your business and increasing your share of the daily visitors to the internet. You can do this by adding more products to your website and joining more affiliate programs. Remember,with the huge potential of the internet there”s almost no limit to strength of your web presence and the revenue you can accrue from online residual income.
Jasmin.N. is owner of Infoconnect79.net and writes on a variety of subjects. To learn more about starting your own home based business earning 6 streams of income.