As a entrepreneur you should be physically resilient and in a good, fit condition, not in the athletic sense of the word but in stamina and strength. There is not much time to rest when you build your own business, and certainly Monday and Friday sickies are not an option at all as this time its at your expense and not of some other employer.
In small businesses at the beginning there are no management layers so you must be there. You have not or cant afford a lot of support staff so that admin will have to be covered by you as well. So days are long and weekends short. The morning after at tough night is still yours to cover.
Entrepreneurs rarely function well in structured organisations and do not like someone else having authority over them and will strive for maximum responsibility and accountability. They enjoy creating business ideas and opportunities and want to control their own future by their own design and not others. Autonomy is required by creativity and latter cannot strive in a controlled environment, so by default entrepreneurs do not exist where there is no autonomy. At the same time you have to love autonomy to be able to become an entrepreneur.
As for real mastery one must accept never ending apprenticeship as one will never be 100% perfect. It's a constant path of learning and improving, a live of curiosity, paired with awareness of your surroundings. Mastery without ability (judgment on you – more important than that of others) and the search for excellence in everything you do cannot happen. This is no reason for frustration but should be an allure that drives one forward as the sheer attempt is the source of the joy. It's attractive because it eludes.
Purpose is a key companion of mastery and autonomy. People without purpose are floating and directionless. The purpose should be a good purpose and not a selfish one. Having significance and meaning for others is key as otherwise one becomes insignificant or irrelevant, not missed essentially. Only purpose will unleash passion as one can only be passionate about something one believes in.
Entrepreneurs are self-confident, want to be in control of what they’re doing, tackle problems immediately and are persistent in their pursuit of their objectives. They seldomly waiver in the face of adversity or uncertainty. There is a border to watch, the border leading to the land of arrogance.
A never-ending sense of urgency is key to make progress. Idleness is not an options and inactivity should make you impatient, tense, and uneasy. Endless debates and dancing around in circles should take your patience close to breaking.
Awareness of complex situations that may include planning, making strategic decisions, and working on multiple business ideas simultaneously is important. But besides the complex and strategic nature, awareness of small things around you, such as the mood in a room, or the staffs perception of decisions are equally critical to sense. Farsightedness, constant observation of details and developments and immediate adjustments to variations are other traits nice to have.
There is no entrepreneur who has no visions or dreams. Often you find them talking about things they wish would happen or exist, they are constantly flirting with possibilities and dancing with the abstract. One cannot improve if they cant envisage what could be.
As an entrepreneur you need to see and accept things as they are and deal with them accordingly. You need to change direction when you see that change is needed and improves the desired outcome. Factual and timely information is crucial to observe at all times and needs to be verified before you use it in making a decision.
Realism might seem contrary to the visionary trait but isn’t and both have to coexist at the same time in the same body like in quantum physics. It presents itself in the form of the “Conscious Freak” that masters the two domains in a balanced way.
You need the ability to identify relationships quickly in the midst of complex situations and deal with problems faster than other people. Ambiguity and uncertainty should not trouble you as you are well happy to live and work in grey spectrum of situations. You need to be a natural leader and identify problems to be overcome swiftly and if the proposed approach is questioned by others for valid reasons, a new approach needs to be developed as a priority.
As an entrepreneur you do not seek status, recognition or surround yourself with material items reflecting status, but find satisfaction in achievement of your goals only. You appreciate your business creation to be praised, but show humility when praise is directed at you personally. Your ego does not prevent you from seeking facts, data, and guidance from others and offer help whenever needed. You always want to be where the action is, roll up your sleeves and get your hands dirty and prolonged periods in the office are a necessary evil you want to avoid as much as possible.
Symbols of achievement have little relevance to you and you find satisfaction in the performance of your business, not in the appearance they present to your peers and to the public.
You should generally avoid becoming personally involved with your people and favour one person over the other nor value rank over file. When needed do not hesitate to sever relationships that could hinder the progress of the business or become harmful to the organisation. Even during the business-building process, when resources are scarce, you need to devote time to dealing with satisfying people’s feelings beyond what is essential to achieving your goals. Otherwise you risk frustration and turnover which can be far more harmful and costly than time spent dealing with them. You need to be courteous and well mannered as your behaviour will be reflected in the assumed culture of the growing business and evolve in an undesirable direction, impossible to correct.
You need a considerable amount of self-control to handle business pressures. You need to be comfortable in stress situations and challenged rather than discouraged by setbacks or failures. You get bored or suspicious when things are going well and well enough is just not good enough. Don't act or react to pure emotion without thought and consideration, nor out of pure intuition or gut feel, as it tends to be little substantiated a lot of times. Except in an emergency.
For any decision people will look to you and your judgement will set the tone of the companies culture, values and ethics structure.
As for the core purpose of the business which is coming from you, so is the rest of the organisational composition, perception and behaviour. You cannot outsource this to HR or let any other person deal with these matters. They are an equal part of the equation and creation, its success and failure.
STILL NOT DISCOURAGED then get on with it and may the two other most important factors for success, that you cannot influence, be on your side. Timing and Luck!
IF YOU THINK you have a great idea, you want to be your own boss and run your own business, here are a few pointers to what is needed from you besides that idea.
They are obviously not all inclusive, nor all together required but a good part of them are certainly a must. Of course the reflect my personal view and are not based on scientific research, if that exists, but on my observations and experience in a variety of situations I have been in, companies I worked for or ran myself and countries or regions I have worked and lived in for many years.