Important Characteristics Every Young Nigerian Entrepreneur Should Have

This Article was originally published on and was written by Olodu Keonyedi.

Every entrepreneurial characteristic is learnable. So many young Nigerians wants to become an entrepreneur, start a business and get financial freedom but may not know how. To be a successful young entrepreneur, there are various skills and characteristics you must have.

Successful entrepreneurs are frequently thought of as national assets to be cultivated, motivated and remunerated to the greatest possible extent. Entrepreneurs can change the way we live and work. If successful, their innovations may improve our standard of living, and in addition to creating wealth with their entrepreneurial ventures, they also create jobs for a prosperous society.

Success does not happen overnight, it takes hard work, perseverance and continual self-improvement. Every highly successful entrepreneur has a great story to tell. There are a great number of common characteristics that are shared by successful entrepreneurs.

It will interest you to know that all those characteristics are learnable.

 Being an entrepreneur is achievable

There’s one thing that every aspiring young entrepreneur needs to keep in mind, and that is entrepreneurship comes with a price.

The price may come in form of a lot of learning, work, time, energy and occasionally money.

Here are several powerful insights concerning the skills and traits that an aspiring entrepreneur should present while entering the game of business.

Do what you enjoy and passionate about

What you get out of your business in the form of personal satisfaction, financial gain and enjoyment will be the sum of what you put into your business. If you don’t enjoy what you are doing, chances are you won’t succeed.

Passion is the most important characteristics of the successful entrepreneur. You must genuinely love your works. You must be willing to put in extra hours to make the business succeed because there is a joy your business gives which goes beyond money.

Every successful entrepreneur will always research ways to make his business better.

You must have high determination and willpower

In order to win at business, your determination and willpower need to exceed every initial setback.

Entrepreneurs are not thwarted by their defeats. They look at defeat as an opportunity for success. They are determined to make all of their endeavors succeed, so they will try and try until they are successful.

Be consistent

Starting a business is one of the toughest things you can do in your life. Often, you will find that the key to starting a business is just getting a little momentum going, but how do you build that momentum? The answer is consistency.

Things take time to grow, and that includes businesses. Very few people will produce mass amounts of profit within just weeks or even months. Great entrepreneurs know how to balance time and capitol to keep a project with great potential growing until it can sustain itself.

A diminished fear of failure

Fear of failure is an illusion developed and nurtured by us, and us only. Whether you consciously perceive it or not, the fear of failure comes whenever we are faced with something challenging or almost impossible. We get scared that we are going to fail as if our lives were at stake. Fear of failure is one of the biggest and deadliest obstacles that young entrepreneurs face. Those whose who can overcome it by perceiving it objectively through a different scope stand a chance at attaining business success.

Working on their personal and professional development

A young entrepreneur who wishes for excellence has to continuously develop themselves both personally and professionally. We are experiencing a digital era in which information is everywhere. The standard education you are getting at school will never be enough for an entrepreneur. Entrepreneur can’t be taught in theory. You need to practice and learn things on your own. Improve your knowledge by reading and watching productive videos such as documentaries and short educational clips. Spend time with people that are teaching you something instead of dragging you down. Look for growth in everything you do and you will attract that growth. When the time comes, everything you are learning now is going to help you later when your business expands.

Actively improves their networking skills and connections

An entrepreneur must become resourceful in order to overcome their upcoming obstacles. Networking is the best thing a young entrepreneur can focus their attention on. During the start-up phase, you will need all the available resources and help to pull it through. Learn to talk to people and build the roots of your future long term relationships by offering value to everyone you meet. Leverage the power of social networks to find new contacts. Build an online presence and start talking to people.

Out-of-the box thinking

Entrepreneurship is all about thinking outside the box. Find solutions to the problems and needs that people face, and come up with ways of delivering these solutions through products and services.

Improve your chances of entrepreneurial success by constantly and actively improving yourself. Whatever goals you have, treat them as seriously as you possibly can. Put them in front of everything. Always put the important things such as work, action, reading and networking on top of your priorities.

As mentioned earlier, if you want to be a great entrepreneur, you need to pay the price; the price should never stop you from pursuing your big dreams.

Olodu keonyedi – is a trained engineer and by passion and personal development a public/motivational speaker, a business coach and human capacity developer, he has a B.Eng degree in Civil Engineering from the University of Nigeria Nsukka, he is a member of Nigeria Society of Engineer and a COREN registered Engineer.

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