Entrepreneurship: Passion, Talent, Hard Work, Courage, and Luck
What makes for a successful entrepreneur? Is it passion alone? Not really. I think every founder and builder should possess five essential traits that will propel them to success: passion, talent, hard work, courage, and luck. Not all necessarily in equal quantities- a purposeful and judicious mix-and-match cocktail of the ingredients is the way to go.
No doubt passion is critical. A founders’ passion for a product or service- be it a cool gadget, software, a drink, or a toy. It could really be anything that captivates heart and soul. The key is that you, as an individual, are fueled by a desire to make your venture a reality, a success, an end game.
The passion for an idea is infectious. The approach may not always come across as rational or well researched data. What matters most is the hunger to see a vision morph into reality.
Talent is of paramount important. Passion without talent is pretty meaningless. You have to have talent to create a product or find a partner who can do it for you- a person who can transform your vision into an earthy product.
Hard work? Who said building a startup is easy? It is probably the hardest thing you will do in your life. However, it may also be the very best thing you will ever do in your life. Remember the saying by Thomas Edison- “99% perspiration and 1% inspiration?” That is probably worth adopting as your motto while building the startup.
Courage is a quintessential skill for a budding entrepreneur. He or she has to take a considerable risk, a leap into the realm of the unknown, and possess mental steel to face adversity. Entrepreneurship is not for the faint-hearted or the individual who cannot tolerate uncertainty, who whimpers at the first sight of trouble on the journey.
A founder also needs to woo capricious Lady Luck. Timing is critical, as well as all the little things that serendipitously come together to support the bold entrepreneur. The fifth ingredient, luck or fate, is possibly written in your stars. They need to align for your success. However, perhaps tipping the other four ingredients in your favor will alter the impact of the fickle lady.
A toast to every bold and talented startup- may courage, grace, and hard work lead you to your goals.
