PERHAPS many believe that successful entrepreneurs become great by virtual of being born with an entrepreneur spirit.
Others say they are just made by learning the skill, activating their natural talent and having the right mindset. Yet others think they are naturally born but naturally made.
The elements that form an entrepreneur are mainly their talents, having a right entrepreneurial mindset and acquiring the right skill.
We are all born with different talents which can be used in different fields such as business to gain revenue.
However, many have talents that are dormant. Their talent can only be beneficial if it is activated and put to good use.
Similarly, mindset change can be altered if you receive the inspiration from others and think positively about what you want to achieve in life. Your perception can begin to change once convicted of the benefits of doing business.
Some people become business minded when they are still young, most of them probably come from a family of entrepreneurs while others get inspired by successful entrepreneurs.
In some developing countries, entrepreneurs tend to be numerous because they have difficulties in finding employment, therefore their only option for survival is to start a business.
This has led to an explosion of more young people starting their own businesses more than ever before.
This initiative is a welcome move because it has helped in closing the gaps in unemployment as a result of creating jobs for local people. It has also removed the myth that when you get educated, the only thing you can succeed in is having formal employment.
We have heard success stories from entrepreneurs who dropped out of school but made it in life. Basic education will give you an added advantage because it helps you to understand and manage the dynamics of business as well as interpreting and analyzing the financial position of your business as well as making good decisions that could boost the business.
No wonder graduates today are opting to go that route and becoming more innovative considering the existence of technology today.
Low skilled laborers are wondering along the globe in search for employment.
Similarly, highly skilled workers are in high demand everywhere but when their employees fail to satisfy their needs, they opt to start their own businesses.
However, to succeed, it is prudent to identify your talent and work around what you are talented in considering that talent is the most precious but hard to come by because every successful business must have the right competencies.
Talent plays an important role in innovating and developing products or services that are not only better suited to their local markets but also to other rapidly developing economies as well as developed economies such as the west.
No wonder companies that want to grow their businesses to unimaginable levels sacrifice by outsourcing talent from everywhere anywhere in the world today.
In the age of globability, companies prefer to hire the most talented that can make them accomplish their goals and are willing to pay handsomely without any apology.
However, this endeavor to pay large sums in terms of compensation to the majority of talented employees tends to be very costly, but to avoid such costs, a few companies focus on building local leadership through trainings and development programs that will bring revenue to the company equal to what experts could bring.
In business, you ought to be a strategic thinker and capitalize on the talent available at a cheaper cost to maximize your profit.
On the other hand, the majority of businesses emerge from the companies they have worked for after learning and getting skilled.
They seek new avenues by establishing their own businesses and try as much as possible to perform better than where they worked before after a learning experience.
The come out more focused and understand the nitty gritty of the line of business they engage in. In the nutshell an entrepreneur can be made considering the elements stated above. Anyone can achieve their dream as long as they set their mind to what they want to achieve.
The author is a seasoned banker.
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