Your Most Important “X-Factor” as an Entrepreneur

People think that if they start a business, that instantly makes them an entrepreneur. But there is a big difference between being an entrepreneur and being entrepreneurial. And a true entrepreneur is not made, he or she is born.

 
You are the true definition of an entrepreneur. That means you live to create a startup, pull together a team of talented people, find a product-market fit and blow it up. And for you, it’s not a one-time thing. You are the keeper of a vision, and that vision is to build, scale and sell companies in a way that will accrue you enormous wealth over time, without having to be present at every moment to oversee their growth.

 

Your x-Factor as an Entrepreneur

You have enormous risk tolerance. This means that you can personally weather the economic and emotional ups and downs of the business and are willing to take a significant personal risk. This is rare, as many people are risk-averse, and that prevents them from playing full out. But you thrive in high-stakes conditions – it’s where you find the best opportunities to shine. And even though losing is always a possibility, you’re confident and clever enough to place all bets on your ability to succeed.

 
You DANGER zone

You want to create, you want to be a thought leader, but the end goal is always to turn a profit. And when you are not meeting your monetary goals, you feel compelled to pivot your plan, or, sometimes, move on to another idea entirely. And one of the biggest problems with this is that you risk abandoning your mission earlier than you should.

 
Another risk you run being an Entrepreneur is a direct result, ironically, of the risk you take. There is always the chance that your idea does not gain the traction that you had planned, which can put you back at square one, which can take a toll mentally, and, of course, financially.

 
Where to Focus

Surround yourself with the Managers and Artists that will help you take your business to the top. You must attract and effectively engage a Manager for each and every one of your businesses. Without one, you cannot create and build systems that will consistently empower the Artists to make the product or service that is the heart and soul of the company. And you must find Managers and Artists that you innately trust, because you are not going to be there to make sure the business is being run in an honest way or that the product or service is top-notch. It’s not in your nature to micromanage or produce, so you better be sure that the people who are doing so are in alignment with your values and vision.

 
This content was generated as a result of a business identity quiz by Robbins Research International that I participated in.

 

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Your Most Important "X-Factor" as an Entrepreneur
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Your Most Important "X-Factor" as an Entrepreneur
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People think that if they start a business, that instantly makes them an entrepreneur. But there is a big difference between being an entrepreneur and being
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