The life of an entrepreneur can seem like an appealing career path, but many who pursue it choose another route in the end. Why? This particular profession requires a little more than just specific skills and knowledge, but personal qualities, too.
Ferrari Energy, a private oil and gas company focused on mineral and leasehold acquisitions, was founded by successful entrepreneur Adam Ferrari. Though his educational background and professional experience helped him excel as an entrepreneur in the energy industry, Ferrari agrees that it takes a particular type of individual to fly high as a self-employed business owner.
So, Ferrari Energy asks readers, "Are you right for the role of an entrepreneur?" Here are seven characteristics that entrepreneurs have who are cut out for the job.
The life of an entrepreneur requires a lot of self-motivation. There is no boss to answer to on the path of entrepreneurship because you are the boss. Having a self-motivated mindset towards a challenging goal requires the characteristic of self-belief. Self-belief is essentially the belief people have in their own abilities and what they can achieve.
An innovative individual in the role of an entrepreneur can better think out of the box, which helps with more than one hat the profession holds. Innovative thinking can help entrepreneurs when it comes to tough decision-making, setting company goals, brainstorming new ideas, standing out from competition, problem-solving, product advancement, and so much more.
Developing and growing a profitable company is hard and requires a high level of commitment. To succeed as an entrepreneur, you must be ready to embrace the ups and downs of running a business and learn how to persevere to the next stage.
Excellent entrepreneurs are adaptable, as adapting to unexpected changes and moving onward regardless of them is a key to keeping a business thriving through the times. A recent unexpected change that organizations had to adapt to would be surviving the coronavirus pandemic. Companies also had to figure out how to operate despite social distancing, quarantine, and the spread of COVID-19.
When it comes to motivating a team, energy is everything to keep others going. Being an example of positive energy in others' lives will spark inspiration, which feeds into helping others build their self-confidence. Energy is contagious- it can spread and influence team members' attitudes, too.
Entrepreneurs start businesses based on a big idea or a vision. Being a visionary allows you to see an end goal that will motivate you enough to find the steps and execute them to reach that end goal. When company growth comes into the picture, continuing to evolve a vision to take a business to the next level will stimulate development.
7. Thick Skin
Having a thick skin and having the ability to separate professional matters from personal will go a long way with finding work/life balance and not becoming obsessive about things in the past. Thinking forward and moving forward is what will keep the passion for work alive and emotions out of harm's way.
About Ferrari Energy
Ferrari Energy took its name from its founder, Adam Ferrari. Adam is a native of Chicago and was formally educated in chemical and biomolecular engineering. He completed his degree at the University of Illinois at Urbana Champaign and finished at the top of his class, graduating magna cum laude. As a young professional, Adam worked in the operations and business sides of the energy industry. After gaining ten years of direct industry experience, he took his passion for the energy industry and launched Ferrari Energy.