What makes a good entrepreneur/intrapreneur?

In the present-day fast-paced digital economy, innovation is everything. You may be an entrepreneur building a startup right from scratch or an “intrapreneur” innovating within an established company –  know that the ability to develop a new idea from concept to successful execution can open up thrilling and well-paying career opportunities for you!

However, becoming a good entrepreneur/intrapreneur requires a specific skillset that can be cultivated through the right education.

1. Creativity

The first step to entrepreneurship is having a good idea. A successful entrepreneur, like a great artist, interprets the world through a creative lens, seeing opportunity where others don’t. Consider this example: Several college students had access to the internet in the early 2000s, but it took a definite mindset to decipher the potential for creating a social network like Facebook that would make it so very easy for billions of people from across the world to connect with each other.

2. People skills

The fable of the lone entrepreneur is powerful in the popular consciousness, but it is also misleading. Although we all know the name of Mark Zuckerberg, the truth is that he built Facebook along with a team of cofounders, and the company could not have thrived without being able to bring in and integrate new team members and so many employees.

3. Organization

Here’s another thing that was generally thought to be true but is not, in fact, true, or is different from how it is usually described: Founding a startup isn’t a freewheeling escape from the structures of a conventional, established company. As a matter of fact, building a company from scratch – and managing it as it grows – makes excellent organizational skills even more essential for an entrepreneur. It follows that, it is also equally crucial for intrapreneurs to learn to navigate an existing organization in their quest to nurture innovation from within.

4. Financial Know-How

In many ways, money happens to be the lifeblood of any company, and it is especially important for startups and other innovative businesses that can live or die based on how they balance their revenues. The fact is that you cannot always wait until you can afford to hire a CFO. Successful entrepreneurs often need to be able to navigate these challenges themselves from the early days of a company.

5. Passion

Just as finance is so critically important, a successful entrepreneurial venture is eventually fueled by passion. This passion of an entrepreneur keeps them going during the inescapable challenges of growing a business, and it grants a foundation for a purposeful mission that inspires their team as well as a loyal base of customers.

These are then some of the important skillset that makes a good entrepreneur/intrapreneur. If you wish to build these essential skills and launch the next phase of your entrepreneurial (or intrapreneurial) career, know that we at Asian Business School (ABS), Noida – which is a part of Asian Education Group and is ranked as one of the best B-schools in Delhi NCR – has a dedicated Entrepreneurship Development and Incubation Centre (EDIC) that aims to empower the students to be more creative and self-confident in taking rational risk in starting an enterprise and encourage innovative business start-ups and facilitate them through research and consultancy. Moreover, EDIC conducts Entrepreneurship Development Programmes for developing entrepreneurial skills enabling students to take up entrepreneurship as a career choice. Besides, it also organizes guest lectures, awareness campaigns, seminars & workshops, quizzes and business plan competitions for entrepreneurship development. To know more, please visit the website abs.edu.in