Most entrepreneurs, even in the early stages of their business, are usually concerned about scaling up. For them, expansion equates to success. While this may not be false in most cases, it is not the blueprint to becoming a successful entrepreneur. This is why Macropay’s Founder and CEO, Adam J Clarke believes that an entrepreneur must have certain qualities to be successful.
The Qualities of an Entrepreneur Poised for Success
1. Problem-solving Skills
Initially motivated by anger at the inefficiency of online payment gateways, Macropay founder, Adam J Clarke saw a problem that needed a solution, and he filled that gap. Today, Macropay rakes in multimillion euros in revenue from improving customer-merchant experience. The value lies in offering seamless alternative payment methods and open banking technologies. To become a successful entrepreneur, you must put your problem-solving skills in your product development too!
Identifying a problem and having a ready solution is only a quarter of the action needed to get started as an entrepreneur. To then be a successful one, an entrepreneur must be willing to stand steady even in the face of failure. Often, entrepreneurs can become quite lofty in their business projections and the overwhelming consequence is imminent failure and rejection. But Adam J Clarke believes that “standing up again after getting knocked over by failure” is the most important part of being an entrepreneur.
3. Calculated Risk vs. Fear
No risk, no reward. As a young businessman, Adam J Clarke had to learn this business truth. The lessons were, however, covered in layers of fear and episodes of self-doubt that he had to overcome. On top of funds and the delivery of unique problem-solving products, entrepreneurs have to grapple with their insecurities before making a business decision. It is this capacity to suppress the fear of the unknown and take calculated risks that distinguish successful entrepreneurs from the rest.
4. Swift Decision Making
Going hand-in-hand with the ability to take calculated risks is the need to be a swift decision-maker. Adam J Clarke understands the role of technology in the business world today and maintains that entrepreneurs must evolve with the times and its technology. To achieve success, entrepreneurs must take swift decisions in the face of the changing global marketplace.
5. Visualisation and Communication
At the heart of any business, the transaction is the ability to communicate in clear terms. An entrepreneur can have the best of ideas and the required grit. However, if they do not have the necessary skills to articulate these business ideas and goals to investors and potential customers, failure is imminent. Business objectives must be mapped out clearly to facilitate effective communication. This visualisation process helps the entrepreneur to express his processes better and execute with precision.
6. Team Builder
A successful entrepreneur is not just a product builder or problem solver but also a team builder. An entrepreneur must be able to distinguish between a group and a team. While the former is just several people who come together for a particular interest, the latter is a group of people who work together to build something great. A team is like a chain, their activities are interconnected and they maintain the integrity of the entire piece.
A successful entrepreneur needs to learn how to build teams, sustain them, and also delegate the appropriate tasks to them.
Successful Startup Builder: Adam J Clarke
Macropay was launched in a living room. It is now a successful fintech company with roots in Europe. Despite all the challenges, Adam persevered.
The Founder & CEO has a message for all those dreaming of creating their own enterprise. He advises that “You should not believe that the entrepreneurs you look up to are different from you. The only difference is the ability to handle failure and rejection at an incredible rate. Standing up again after getting knocked over by failure is the most important part of being an entrepreneur.”
Visit www.macropay.net for more information. Should you wish to contact their experts for their advisory and tech services, click here.