No knock on business owners, but not all people who own businesses are entrepreneurs. Like entrepreneurs, business owners risk more, take on more responsibility, and have more control over their work lives than employees. The difference, then, is the motivation. Entrepreneurs are not simply trying to make a living, but measure themselves by their achievement and success. As Peter Drucker, one of the founders of modern management, says, an entrepreneur is “someone who always searches for change, responds to it, and exploits it as an opportunity.”
And though not every entrepreneur is the same, there are core elements that many share. These qualities link together, forming chains of strength that entrepreneurs use to pull themselves forward. Here are a few:
Successful entrepreneurs have the vision to initiate actions, playing offense instead of defense. Instead of doing the bare minimum, or even underperforming, they outwork, outhustle, and outthink their competitors. This proactiveness has entrepreneurs looking ahead to where they want to go, versus constantly being stuck in regret over where they’ve been.
Is life a series of obstacles or learning opportunities? Your answer to this question might tell you if you are truly an entrepreneur. In your effort to build solutions to market needs, you will face endless vexing and seemingly unsolvable issues. If you rage and resist these challenges, you might want to find another line of work. Entrepreneurs are consistently adaptable and resourceful. This allows them to persevere when most are ready to quit, thriving on adversity that make them better and stronger individuals.
Though everyone knows that the world is constantly shifting, most try to build a wall against it, yearning for predictability in a flood of transition. Real entrepreneurs actually embrace change, because that is where opportunity exists. Charles Darwin noted that species’ survival depends not on strength or intelligence, but on adaptability. Entrepreneurs view change as a positive and know that their ability to respond and adapt gives them an edge in every situation.
Learning is Earning
An entrepreneur unwilling to learn is like a river without water: empty and with nowhere to go. A deep understanding of every facet of business and life is essential and is the only way forward. A hunger for new ideas identifies you as an entrepreneur. Every facet of your business requires knowledge, and a willingness to learn is the only way to gain that crucial knowledge.
Feeding the Machine
An entrepreneur willingly sacrifices any activities that don’t nourish the brain with quality content. Wasting time with gossip or social media is ditched. Instead, entrepreneurs favor inputs that build knowledge and experience. Personal time sustains the body and mind. Feeding the machine requires the commitment of the whole person, body, mind, and spirit to building solutions in shifting, challenging environments.
All of your energy, motivation, and hard work are fueled by your passion. If you wake up every morning, fired up about what you’re doing, passionate to thrive and succeed, then you are a true entrepreneur. If you spend your days thinking about retirement, or a beach, or some other escape from the moment at hand, then you might want to consider retiring to that beach. Entrepreneurs’ hearts beat with their lifeblood of building and achieving.