Perseverance, Innovation and Passion: The Winning Trio To Start?

What quality helps more to the success of an entrepreneur? I want to emphasize that we only talk about qualities, not other factors such as professional experience, training, networks of contacts or money available. Many of these factors are very important, and perhaps some of them would be placed at the top of the answers, but in this case we talk about intrinsic qualities.

Without persevering, you will not get anywhere

From the start of a business until the results are noticed, it can take a long time. Perhaps the most striking example is that of Amazon, which took 7 years to give its first benefits. Of course, in this case, Jeff Bezos was fortunate to be accompanied by shareholders who believed in the project and did not think about the short-term benefits, because normally, nobody waits so long to see results.

However, to believe that success can be immediate is an illusion. Entrepreneurship implies being patient, and trying new strategies when initials do not work, until finding the right solution. It is necessary to persevere, in spite of the difficulties, because almost never the things are given to the first and without fighting.

Perhaps the most complicated thing is to be able to see the difference between persevering and staying in error. In the first case, you have to see positive signs that indicate you are in the right direction. In the second case, there are no such signals.

Innovate to differentiate

Creativity is an essential part for an entrepreneur. If you do the same as others, then what makes you think that customers are going to choose you? You have to provide added value, and differentiate yourself. And the best way to differentiate yourself in innovating. But do not think that innovation is something that only counts at the beginning of your business adventure. Creativity must be constant, because things do not stop evolving. What at the beginning represents an innovation, after a few years is what everyone does, and later it is an antiquity. So that your business can continue to be successful, you will have to keep innovating always.

But when we talk about innovation, there are many people who get confused, and think about revolutionary technological solutions. Innovation does not always translate into R & D & I. Sometimes, and more specifically, most of the time, innovations are small changes  based on common sense. You see a problem, and you solve it with creativity. It may be an organizational issue that you have to optimize, or an additional service that you can offer, or anything else that adds value. It does not have to be revolutionary. It simply has to be a step in the direction of a better product, a better service and a better shopping experience for your client.

There is no better engine than passion

When an entrepreneur asks me what kind of business I should set up, I usually respond that I look at what I know how to do, the experience I have and what I am passionate about. The ideal is to find a project that fits with these three aspects. Passion is a fundamental element, because it is an engine for motivation, to persevere, to have faith in achieving the goal of the company.

Entrepreneurship can become very difficult and very frustrating. Each entrepreneur has his own path, and some things will work out more or less well and without too much difficulty, while others will have to overcome many obstacles. But there will always be complicated moments, and the passion you feel for your project can help you a lot then.

When you are in doubt among several business ideas, try to assess them also from the point of view of what you are passionate about. And if two projects seem equally good, no doubt choose the one you most passionate.

Other qualities of the survey

If perseverance, innovation and passion are the three most voted qualities, there were also other possible choices in the survey, and I want to mention them briefly.

The ability to decide. In companies, knowing how to make a decision without delaying it is very important. Those who decide quickly, even if they are wrong, usually succeed more than those who think a lot. Because the first, if they make a mistake, they rectify by taking another quick decision. The seconds allow opportunities to pass and they remain blocked.

Intelligence. Being smart is obviously a great advantage to succeed, but perhaps we should explain what kind of intelligence we refer to, because there are many. Analytical intelligence, (measured by IQ) and emotional intelligence are probably the two best-known classes, but there are more.

The management capacity. Knowing how to organize things may seem silly, but in business it can mean the difference between making informed decisions and only betting according to the rhythm of the moment, or the difference between overlooking serious deficiencies and being able to control the situation.