A few traits that all entrepreneurs should own in order to be successful

A few traits that all entrepreneurs should own in order to be successful

A few traits that all entrepreneurs should own in order to be successful

Business landscape in UAE is thriving. There is a real push to attract the best from all over the world and provide them a platform to go for business setup in Dubai. According to FDI Dubai, Foreign direct investment (FDI) flows rose to $4.84 billion in first half of 2018 for Dubai, up 26% year-on-year. This active investment shows confidence of global entrepreneurs in Dubai which is backed by government diversification efforts, relaxed regulations and lowered cost of doing business.

There are many successful startup stories in UAE and after a decade of our experience in the business world working with startup founders across the UAE, our business consultants Dubai have picked on a few particular traits that they believe are quite valuable for an entrepreneur’s successful long-term journey.

Let’s take a look at them,

  • Determination

One of the most essential elements of determination is daily discipline. You must do what needs to be done even if you do not feel like doing it. Good, solid habits that you do every day make you more efficient and productive.

  • Passion

Passion is one of the most important elements of success. Let your passion rage like a fire. If you love what you do, if you are passionate about it, your work won’t feel like work to you even when you are dog tired.

Also, keep in mind that having a lot of money is not crucial to make your idea work. Many successful entrepreneurs in Dubai identified a need in marketplace and setup their business to fill it, leveraging whatever available resources. For example Bill gates, owner of Microsoft along with his business partner Paul Allen started with a simple idea by creating a basic interpreter program for Altair 8800 Microcomputer. The program they designed worked only on a simulator but the company for which they designed was impressed by their work. Rest is history.

Also Read: Five tips to come up with a winning business idea

  • Patience

“A River cuts through a rock not because of its power, but its persistence”.  Jim Watkins

Success does not happen overnight. It takes a great deal of hard work and patience. You will have to work nights and weekends. In many cases, perhaps some major lows when starting and growing business in Dubai but it should make you stronger. Mistakes help you learn and let you move forward to bigger and better things.

In our experience, we have seen many entrepreneurs giving up when things were not going their way. You should know that starting a business in Dubai is rewarding BUT it is not easy and takes a lot of time. These ups and downs are those times when a true entrepreneur is tested. So work hard, maintain a strong will keeping the end goal in mind especially when things are not going according to your plan.

  • Optimism

Patience and optimism both are related. As mentioned above, it may seem like getting your business off the ground will never happen, but you should not think like that. Look ahead and be optimistic about your future.

Jonathan Swift in his essay “thoughts on various subjects” wrote, “Vision is the art of seeing things invisible.” Entrepreneurs are visionary. They have a vision that they share with others. Their team understands why they do what they do, what is their goal and the role they have to play on the path to success.

  • Work/life balance

“Entrepreneurship is more than just a career choice. It’s a way of life.”

It is true that most entrepreneurs are extreme workaholics. They enjoy so much at what they do that they do not know when and how to stop. But keep in mind that entrepreneurship takes over not only professional life but your personal life as well. Connect with your family. Choose your life partner wisely. Try to maintain a work life balance. Because the most important sustainable competitive advantage for an entrepreneur is the support provided to you by your family.

If you are looking for company formation in Dubai, get more information from our business setup consultants at KWS Middle East. Call us on 00971-(04) 871 4313 or contact us by sending your query on info@kwsme.com.

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