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Wednesday, 24 April 2013

Characteristics of Entrepreneurs


Regardless of your definition of success, there are, oddly enough, a great number of common characteristics that are shared by successful business people. You can place a check beside each characteristic that you feel that you possess. This way, you can see how you stack up. Even if you don’t have all of these characteristics, don’t fret. Most can be learned with practice and by developing a winning attitude, especially if you set goals and apply yourself, through strategic planning, to reach those goals in incremental and measurable stages.
Like any activity you pursue, there are certain musts that are required to be successful in a chosen activity. To legally operate a vehicle on public roadways, one must have a driver’s license; to excel in sports, one must train and practice; to retire comfortably, one must become an informed investor and actively invest for retirement. If your goal is success in business, then the formula is no different. There are certain musts that have to be fully developed, implemented and managed for your business to succeed. There are many business musts, but this article contains the more important musts from the different sources and experts that are required to start, operate and grow a profitable business and soon be called as Entrepreneurs.

1. Do you have an exceedingly strong need to achieve then it is a plus to survive in the business world. This strong need to achieve as opposed to a need to be liked or to exercise power is a great quality of an entrepreneur.
2. Perseverance, everyone needs it. Perhaps the most important of all the characteristics of entrepreneurs is the ability to withstand the troubles that come with starting a business. Beginning a new enterprise is an immensely difficult task, and as an entrepreneur, you’ll have to stick through the storms and stress if you want your venture to be a success. It sometimes takes years for a good idea to start making you money, but when it does, you’ll be glad you stood strong in the face of adversity.
3. Objectivity. Know exactly what you want and get focused on the game. The knack to precisely weigh and assess risks linked with a meticulous course of action, as well as being realistic about one’s own abilities and limitations. Be objective and never be one-sided.
4. Be wise in terms of money but never be greedy for it will also be the cause of your downfall. A respectful attitude toward money, but a propensity to look upon it as a means for achieving things, or a way of keeping score in the game of business, rather than as a thing to be sought as the end in itself. At the end of the day money isn’t everything.
5. The tendency to foresee developments and to make things happen, rather than waiting to react to problems as they arise. Think beforehand. You cannot just decide for the things present, you must be able to determine the possible consequences.
6. Resourcefulness. The capacity to resolve tribulations in some ways, to be able to handle things that come even without having prior know-how to rely on as a guide. Instinct will help, and you must also learn to trust yourself, after all, it is you who knows the business well enough.

7. Personal relations. The successful entrepreneur usually has an emotionally stable personality, is cheerful, cooperative, and usually gets along well with (without necessarily being close to) employees and associates. Besides, no man is an island, make sure you can talk to people, you cannot work on your own, and everyone has their part. Your business won’t run without your people.
8. Communication skills are well developed, both in oral and written presentations. Also learn the PR skills and learn to know how to build the rapport.
9. Technical knowledge is usually well-rounded, and the successful entrepreneur generally is knowledgeable about the specifics of providing their goods and services. You must know every little job in your business.
Those who run successful businesses possess many of the above attributes at phenomenal levels, much beyond those of the average person. And they don’t fear failure, but are quick to learn from it.
Now you can understand why less than half of all startups last more than five years. Some experts argue that everyone possesses these attributes, but they may be buried deep in the subconscious. Their challenge is to release the negative thoughts and feelings that are blocking the emergence, and blocking success.


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  2. very good article, thank you for sharing. your sharing information is very useful for me, thank you!