Mind Your Business: Becoming an entrepreneur

Columns January 22, 2014

What do Hugh Hefner and Martha Stewart have in common? While one’s famous for his centerfolds and the other for her centerpieces, they both share a passion for entrepreneurship. This issue we’ll explore the personality traits needed to become a savvy business mogul.

Goal-oriented

All dreams but no action does not an entrepreneur make. If you’re hoping to make it as a business owner, an important guideline to remember is to peel your dreams off the pillow and onto the drawing board. Setting a goal places a deadline and expiry date on ideas, thus making them come to life.

Strategic planner

Here’s when all those arduous hours spent playing Settlers of Catan will come in handy. Successful entrepreneurs are constantly strategizing for their next moves and decisions. When problems arise, how quickly and confidently can you formulate a solution?

Resilient

It’s important to remember that while some choices may soar, others may scorch. Successful business owners realize that failed ventures shouldn’t be taken personally. When faced with adversity, hold your head high and bounce back from the blows.

Creative

If one idea fails, it’s time to use another. If you’re having difficulty tapping into the world of innovative options, researching and brainstorming can sharpen those creativity skills. Being a creative person isn’t limited to holding a fine arts degree; sometimes the most creative minds simply find original ways of beating their competition.

Flexible

And this doesn’t mean being a double-jointed contortionist, unless, of course, that’s your business venture. Since owning a business is such a labour-intensive task, it will require long hours and inconsistent sleep cycles. If you’re addicted to the 9–5 grind, perhaps it’s time to wean yourself off the routine.