Products and Services
Products and Services
Insure what matters
Comprehensive motor insurance
Educare Savings and Insurance Account
Home insurance
Stanbic Medi-Protect
Ways to Bank
Ways to Bank
Products and services
Products and services
Borrow for your needs
Agri finance loans
Business overdraft
Business term loan
Commercial property loan
Contract financing
Invoice discounting
Trade finance
Vehicle and asset finance
Working capital loan
Insure what matters
Trade insurance
Importing and exporting to China made easy
Ways to bank
Ways to bank
Business Current Account

What does it take to be a successful entrepreneur?

Being an entrepreneur is both rewarding and challenging. There is no sure secret to what makes an entrepreneur successful, but there are certain characteristics entrepreneurs can cultivate to have the best chances of building a long-lasting and lucrative business.

Being a successful entrepreneur means being a dynamic individual with strengths across different areas. Assess yourself along the above-mentioned characteristics and identify where you can build your strengths.

  • Self-motivation:

While having a good community to support you is important, successful entrepreneurs are usually self-motivated and do not need encouragement to take steps toward building a better business. They start the day with a defined set of tasks and goals, always keeping in mind their main business objectives. They view challenges as opportunities to learn and grow rather than as reasons to quit.

Build your strength in this area by regularly defining tasks and goals for yourself and your team – each day or week. Think about how you can take your business to the next level rather than waiting for an opportunity to present itself. Reframe challenges as opportunities to deliver better products or services and meet customer needs.

  • Strong work ethic:

Successful entrepreneurs tend to have a strong work ethic, and this drives how they manage their time. They are driven by a passion to work towards stated goals, even if it means working beyond regular working hours.   

Build your strength in this area by developing a disciplined routine, embracing responsibility, and developing a mindset that demonstrates hard work through sacrifice and focus.  

  • Creativity:

Because of stiff competition in the entrepreneurship ecosystem, successful entrepreneurs are typically either creative themselves or good at hiring creative employees. The need for entrepreneurs to create unique ideas and provide user-friendly solutions for customers demands out-of-the-box thinking in everything from marketing to service delivery to product design.

Build your strength in this area by developing a curiosity mindset in your daily life, and networking with likely minded people in your field. Networking can help you discover new ideas and also get valuable feedback on your existing ones.

  • Robust leadership qualities:

Most successful entrepreneurs are usually cited by their employees and communities as strong, compassionate leaders. Leadership skills help an entrepreneur develop talents in their team, drive efficiency, and ensure quality products and services delivery.

Build your strength in this area by regularly engaging with your employees to understand their challenges, successes, weaknesses, and strengths. This will enable you to know what actions to take to make them more productive.