Although the world is in a state of crisis at the moment, it is probably the best time for innovation. Now is the time to carefully assess one’s strength of character as an entrepreneur and determine whether one has what it takes to run a successful business. To inspire the next line of entrepreneurs, Thomas Beggs, President, and CEO of Worldwide Precious Metals, shares the five qualities that every aspiring entrepreneur should possess.
Beggs’ first job was at a golf course when he was 13. He knew back then that he wanted to work in the public service industry and disciplined himself until he achieved his goals. “The ability to maintain one’s control through thick and thin is what shapes one for success or failure,” stated Thomas.
One of the reason, Beggs has achieved success at such a young age is the utilization of time. He didn’t waste any of his time as he set about achieving his goal. Winning in business has a lot to do with Focus. “The ability to see ahead of oneself and concentrate on the goal with absolute focus is important,” Thomas explained.
“As an entrepreneur, running a business requires a lot of quick thinking and action-taking,” added Thomas. Hesitation is the enemy here. Second-guessing your actions can lead to low confidence and failure at every turn. Therefore, it is necessary to take charge and not wait your turn when it’s time to make a decision.
Honesty and Integrity
Belief in one’s product is necessary, and so are honesty and integrity. These virtues shine through when you meet a customer. Thomas Beggs believes that “Integrity is the soul of an entrepreneur because, like honesty, it is an extremely fragile trait. Once honesty and integrity are compromised, the customer is lost.”
Never Giving Up
Thomas shared that the harsh truth about entrepreneurship is that no matter how successful you become in business, there is a strong possibility that you will face failure. Therefore, the most important quality that an entrepreneur must possess is persistence – the never give up spirit. Prepare for success but plan for setbacks too. Any entrepreneur worth their salt doesn’t go into business unless they are sure of success, but even so, there are things beyond one’s control that can take place.
Beggs chose to be an entrepreneur because he saw how worthy his time and energy could be for helping people keep as well as increase their wealth and security.