Leadership requires knowledge, skills, practice and talent. One field I intend to major in is entrepreneurship. An entrepreneur is a person with courage and confidence to face business challenges with wit and intelligence hence making his business succeed in a competitive market. An entrepreneur can identify a deficiency in supply of a certain commodity and service and take the opportunity to create and grow his business. Therefore, entrepreneurship requires decisiveness, quick thinking, creativity, flexibility and intelligence for it to be successful. I prefer to apply participative leadership skills where I integrate my employees in decision-making activities and style where I discover the employees’ strengths and allocate duties according to one’s strong point.
In order to be a successful entrepreneur, one requires the ability to understand the changing market and their ever-changing needs and the competitors. One should also have knowledge of the legal requirements associated with business. Skills that are necessary for an entrepreneur are management skills, the skills to manipulate the available resources to fulfill what is required of the business. The entrepreneur should have good relation skills in order to maintain a good rapport with his business associates, suppliers and customers.
The most vital elements of success in entrepreneurship are confidence, decisiveness, flexibility, intelligence, optimism, perseverance, self-awareness, respect and empathy. As a leader, one should be confident enough to earn the respect and confidence of his or her juniors. A leader should be optimistic and view failure as part of a trial and learning process. A leader should be persistent and firm in his decision making the juniors to listen to his or her ideas and implement them.
I possess leadership skills one being the ability to see a different angle to a situation hence can come up with a unique and appealing brand to the consumer’s needs and taste. I exude confidence and am able to earn respect from those I deal with since I respect them and respect myself as well. My weakness is my impatience. I tend to be very goal oriented and the lack of instant success frustrates me. I tend to be a competitive person and a good team player at that. I take advice and opinions from others but I make the final decision. This is a positive aspect in leadership in entrepreneurship as one has control of his or her company.
I have good relation skills and can create good rapports with people as I try to understand people’s expectations and figure out the best way to deal with them. I am outgoing but also prefer working on my own as I feel that goals are achieved faster when I work by myself. However, I need to gain experience in entrepreneurship in order to know how to apply my skills and knowledge in real life situations. In order to achieve my leadership position and own my business I need to work on my decision making ability and my courage to sharpen them to be able to face the hardships experienced in the real business field. I also need to sharpen my communication skills to be able to listen more to people’s advice especially in the early stages of the business as team work is more effective for the overall goal achievement than working as compared to working on your own.