Being a successful entrepreneur in 2022 requires a lot of hard work, but there are some other qualities that can help you to thrive.
Being able to spot gaps in the market is a great quality to have as an entrepreneur. In 2022, this may be more difficult, as it can seem like everything has already been done. However, taking a simple idea and noticing what is missing will help you stand out and succeed.
That’s exactly what David Spector and his wife, Heidi did with ThirdLove bras which catered to women who fell between cup sizes. Bras are already widely available from many underwear shops and websites, but by adding the extra sizes, they made it possible to stand against other competitors. They also created an app for customers to fit themselves, making it easier for them to get the right size and less likely to return bras due to the fit.
Because so many ideas have been tried before, creativity is another great quality to have. There is a wealth of information available on marketing, but some of this can quickly become outdated or overused. If you have the creativity to try new ways of getting your products and ideas discovered, you’re more likely to reach the right people and stand out against businesses using the same marketing techniques as everyone else.
Being adaptable is another quality that can help entrepreneurs in 2022. Technology is constantly changing, and some of these changes can be used to get investors and customers excited about what you are offering. However, you need to be adaptable enough to keep up-to-date and become one of the first people to embrace and use new technologies, so you can stand out.
Quick thinking is another essential quality. You may have what seems like a failproof plan, which has worked for other businesses, but there is no such thing as a one approach fits all, so it may not work for you. If you can think on your feet and change your plans quickly, you can salvage an otherwise failed idea or product and turn it into a success.
Having exceptional communication skills is a crucial quality too. You need to be just as comfortable talking to customers one-on-one as you are delivering a presentation to potential investors. You also need to be confident with a variety of communication methods, such as emails, writing in-depth reports, phone calls, video meetings, and in person. Many people are better at some of these than others, but to succeed, you will be expected to use all of these methods at some point. So, you will need to practice those which you do not feel so confident about.
There are some things that you will always need as an entrepreneur, like strong work ethics, perseverance, and determination. However, in today’s fast-moving world of business and technology, qualities such as adaptability, varied communication skills, and creativity have become more important than ever.