5 Characteristics of an Entrepreneur You Need to Know
Working a 9 to 5 job turns out not to be everyone's dream. Many people feel restrained and need a change from a work system that feels so monotonous. In the end, they start their own businesses to gain freedom and something new every day. So, what exactly is an entrepreneur? Learn the characteristics of an entrepreneur and some examples below!
What Is an Entrepreneur?
According to KBBI (the Great Dictionary of the Indonesian Language), a wirausaha is the same as a wiraswasta, namely a person who is skilled at recognizing new products, determining new production methods, marketing them, and managing the capital of their business. From this definition, it can be concluded that to be an entrepreneur, you must have the ability to keep evolving and renewing both yourself and your business. After all, in the end, the businesses that last are those that can adapt while continuing to bring new elements to life within them.
Also read: Basic Concepts of Entrepreneurship You Must Know
Characteristics of an Entrepreneur
There are five characteristics of an entrepreneur that you can recognize. Do you already meet all the criteria? Read the explanation below so you have a clear picture!
Innovative
An entrepreneur must have an innovative spirit. This innovative thinking comes from thinking critically about everything, from products already available on the market to business systems that other companies may be running. When someone thinks critically, they will know what gaps exist in competitors' companies. As a result, they can build a different company to meet market needs, and likewise when they have to sustain that business. They must keep innovating as times change.
Has a clear orientation and goals
You have probably often heard that business planning is an important preparation before opening a business or while running one. That is why an entrepreneur must have a clear orientation and goals. When someone has a definite goal, they know exactly what to do and how to approach their business. A clear orientation also lets a person stay on the same track and quickly get back on it when earlier decisions go astray.
Willing to take risks
No business is without risk, so an entrepreneur must have the courage to take risks. Just imagine: when you run a business, you will likely face all kinds of choices and have to make decisions that can affect the company's future. Armed with the research already done, an entrepreneur must decide which step to take. On top of that, the predictions in that research may not be something that is certain to happen in the future.
Able to grow dynamically
The next characteristic of an entrepreneur is being able to grow dynamically, which is why they usually can't stand working under someone else's orders and doing the same tasks over and over. However, if you are someone who can tolerate a monotonous work rhythm, business may not be the right fit for you. Entrepreneurs must keep observing their surroundings, stay critical, and develop themselves whatever the context. This process can be very tiring for people who like a 9 to 5work system, but it will be satisfying for those who want to keep exploring.
Leadership spirit
An entrepreneur must be a leader both for themselves and for the business ecosystem they will manage. There are many criteria for a good leader, among them having good communication skills, being committed, being able to share and delegate tasks well, and being good at time management. All of these aspects will greatly influence the growth of the business they build.
Also read: Want a Smooth-Running Business? 7 Entrepreneurial Characteristics You Need to Have
Examples of Entrepreneurial Businesses
There are many examples of entrepreneurial businesses you can pursue. Here are some common ones we see around us.
- Fashion entrepreneurship – This line of business sells clothing, footwear, bags, and various other accessories to complete one's appearance;
- Culinary entrepreneurship – This entrepreneurial business offers food and drinks. The target market is naturally broader because everyone needs to eat and drink;
- Healthcare entrepreneurship – Healthcare can also be turned into a business, for example when you open a pharmacy or provide other health services;
- Education entrepreneurship – Schools, universities, and course institutions can also be considered businesses in the education sphere;
- Technology entrepreneurship – In an increasingly digital age, businesses in the technology field (such as electronics stores) offer equally attractive opportunities.
Although it seems to offer freedom, entrepreneurship has its own challenges in growing a business, for example when you have to maintain customer satisfaction. Fortunately, Midtrans has tools that make it easy for growing businesses to accept payments from various sources with just one account. Come on, register your business with Midtrans to enjoy the benefits, such as transaction anomaly detection and a dashboard containing complete transaction information and customer data!
