Entrepreneurship - The Art of Business Development

When one thinks about entrepreneurship, one usually thinks about the growth of a business from the ground up. However, entrepreneurship is more than simply a method of building a business. It is an art. At its heart, entrepreneurship is the ability to take an idea from a proposal and conceptualize it into a physical manifestation, one that can both be marketable as well as turn a viable profit for the amount needed to get it off the ground. This might seem like a job that dreamers are good at, but in reality, it's the practical nature of an entrepreneur that makes business development more than simply a pipe dream. It takes a special type of individual to take an idea and turn it into a business.

What Makes an Entrepreneur?

As an individual that is tasked with bringing an idea to life, an entrepreneur has to have a certain set of skills in his or her arsenal in order to be effective at doing what they do. The most successful entrepreneurs in the world display a handful of skills that make them stand out from the rest of the population. Among these are:

Determination: An entrepreneur never takes no for an answer. Some of the world's best entrepreneurs were denied their dreams thousands of times over before striking it big. The ability to hold on to a dream despite adverse conditions is one of the major characteristics of an entrepreneur.

Worldliness: Understanding the world at large is essential to getting an idea from your head into reality. This characteristic is what separates entrepreneurs from dreamers and poets. They can take an abstract thought and breathe life into it.

Competitiveness: In any type of business there will be competition. Entrepreneurs are innovators. They see an existing method of production and imagine ways it can be improved. They excel at being competitive, even if the only person they are competing against is themselves.

Decisiveness: This trait is what sets entrepreneurs apart from the rest of the population. The fact that they take decisions and stick with them for better or worse is a characteristic that usually leads to them adopting a lot of risk. However, with great risk there comes great reward.

Ability to see the bigger picture: When it comes to developing business ideas, the thing that sets an entrepreneur apart from other people is the ability to notice small details and understand how they affect the larger scheme of things. This level of thought allows them to make decisions that others would never think about.

Not Afraid of Failure: Probably the single worst downfall a non-entrepreneur has is that he or she never gets started because they're too scared to fail. Entrepreneurs develop ideas in their heads and bring them into realization by having the courage to do things that no one before them has done. It's a trait that allows them push boundaries and become pioneers.

Entrepreneurs are people, but a special breed of people that are able to think on a different scale than non-entrepreneurs. Their abilities to spot innovations and calculate risk to reward ratios make them unique individuals. In the 21st Century, more and more young people are leaning toward entrepreneurship as a profession. Although there was a slight decline in the percentage of American adults that started businesses monthly in 2012 to 2013, the overall trend is towards growth. Sadly, not all entrepreneurs that start out on this path have the required skills to keep at it till success comes knocking at their door. To the few of those that are suited to the profession, the combination of luck and determination ensures that it's only a matter of time before success finds them.