A good deal is known about what is required to be a successful entrepreneur. An overriding factor found in most successful entrepreneurs is a tremendous need to achieve. Attitude seems to have everything to do with success in business, while factors such as intelligence, education, and personality are less significant.
The following list catalogs some of the characteristics of successful entrepreneurs.
- An overpowering need to achieve. Usually this is measured by the individual's internal ruler.
- Follow through. Meeting commitments and not quitting define this characteristic.
- Positive mental attitude. Exhibiting confidence and believing in one's ability help the entrepreneur succeed.
- Objectivity. An important trait is the ability to accurately weigh and measure risks in a sphere of realism.
- A respectful attitude toward money. Money is not sought as an end in itself, but rather as a method of keeping score or as a tool toward accomplishments.
- Tendency to anticipate developments. Making things happen, rather than reacting to outside developments, defines the entrepreneur's methods.
- Resourcefulness. Successful people can handle unique problems in unique ways.
- Communication abilities. These skills cannot be overstressed. Successful people have worked at developing the ability to communicate clearly and effectively.
- Technical Knowledge. A sound working knowledge of both general business practices and the processes used to deliver goods and services is a must.
7 Key Qualities of a Successful Entrepreneur
by Kristine Geimure
Being an entrepreneur is about more than just starting a business or two, it is about having attitude and the drive to succeed in business. All successful Entrepreneurs have a similar way of thinking and posses several key personal qualities that make them so successful in business. Successful entrepreneurs like the ambitious Richard Branson have an inner drive to succeed and grow their business, rather than having a Harvard Business degree or technical knowledge in a particular field.
Being an entrepreneur is about more than just starting a business or two, it is about having attitude and the drive to succeed in business. All successful Entrepreneurs have a similar way of thinking and posses several key personal qualities that make them so successful in business. Successful entrepreneurs like the ambitious Richard Branson have an inner drive to succeed and grow their business, rather than having a Harvard Business degree or technical knowledge in a particular field.
All successful entrepreneurs have the following qualities:
Inner Drive to Succeed
Entrepreneurs are driven to succeed and expand their business. They see the bigger picture and are often very ambitious. Entrepreneurs set massive goals for themselves and stay committed to achieving them regardless of the obstacles that get in the way.
Strong Belief in themselves
Successful entrepreneurs have a healthy opinion of themselves and often have a strong and assertive personality. They are focused and determined to achieve their goals and believe completely in their ability to achieve them. Their self optimism can often been seen by others as flamboyance or arrogance but entrepreneurs are just too focused to spend too much time thinking about un-constructive criticism.
Search for New Ideas and Innovation
All entrepreneurs have a passionate desire to do things better and to improve their products or service. They are constantly looking for ways to improve. They're creative, innovative and resourceful.
Openness to Change
If something is not working for them they simply change. Entrepreneurs know the importance of keeping on top of their industry and the only way to being number one is to evolve and change with the times. They're up to date with the latest technology or service techniques and are always ready to change if they see a new opportunity arise.
Competitive by Nature
Successful entrepreneurs thrive on competition. The only way to reach their goals and live up to their self imposed high standards is to compete with other successful businesses.
Highly Motivated and Energetic
Entrepreneurs are always on the move, full of energy and highly motivated. They are driven to succeed and have an abundance of self motivation. The high standards and ambition of many entrepreneurs demand that they have to be motivated!
Accepting of Constructive Criticism and Rejection
Innovative entrepreneurs are often at the forefront of their industry so they hear the words "it can't be done" quite a bit. They read just their path if the criticism is constructive and useful to their overall plan, otherwise they will simply disregard the comments as pessimism. Also, the best entrepreneurs know that rejection and obstacles are a part of any leading business and they deal with them appropriately.
True entrepreneurs are resourceful, passionate and driven to succeed and improve. They're pioneers and are comfortable fighting on the frontline The great ones are ready to be laughed at and criticized in the beginning because they can see their path ahead and are too busy working towards their dream.
Entrepreneurs’ beliefs about the qualities that made them successful (based on interviews with self-made millionaires):
1. Hard work (93%)
2. Being honest and trustworthy (85%)
3. Enjoyment of work (82%)
4. Getting along with people (82%)
5. Taking opportunities (81%)
6. Being my own boss (72%)
7. Intelligence (69%)
8. Being well disciplined and dedicated to success (68%)
9. Being physically fit and well/employing good people (67%)
10. Having a supportive partner (66%)
Traits that make for success in a large organization:
1. Vision
2. Tenacity
3. Self-belief
4. Financial awareness
5. Political awareness
6. Hard work
7. Dedication
8. Communication skills
9. Flexibility
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