Next video:
Loading the player...

Do you have the qualities of a successful entrepreneur? Those who do tend to share these 10 traits.

First, successful entrepreneurs have passion and motivation. They’ve found something they can work on over and over again without growing bored -- a job they want to do for the rest of their life.

Second, they will risk time and money, but they preserve resources for dealing with “unknown unknowns.”

They are confident and enjoy what they do. Sometimes they come across as stubborn, but that demonstrates their discipline and dedication.

Entrepreneurs are adaptable and flexible. They welcome any suggestion that can optimize their offerings and satisfy their customers.

Entrepreneurs understand their offering and the market. They keep up with the competition and consider external factors that can lead to failure.

Entrepreneurs manage their money. Profitability takes time, and until then capital is limited and must be used wisely. Successful entrepreneurs keep a complete handle on cash flows, the lifeblood of any business.

Entrepreneurs plan appropriately. They plan as much as possible, but keep some dry powder in reserve, and handle the unexpected with the right mindset.

They have networking abilities. They reach out to mentors to seek valuable advice.

They are prepared to take the exit. Failure is not unusual, and sometimes it’s best to follow a practical route into a new venture instead of sinking resources into a lost cause.

And lastly, entrepreneurs doubt themselves, but not too much. Ask yourself, can I do this? Do I want to do this? Instead of worrying about fitting in with someone else’s image, check your gut. That should tell you a lot.

  1. No results found.
Related Articles
  1. Small Business

    10 Characteristics of Successful Entrepreneurs

    Being a successful entrepreneurs requires more than just an idea or a lot of money. Here are ten things that set successful entrepreneurs apart.
  2. Small Business

    10 Habits Every Entrepreneur Should Have

    Discover 10 habits common to successful entrepreneurs that you can emulate in your journey toward achieving success in your own career and life.
  3. Small Business

    How Entrepreneurs Benefit the Economy

    Why are entrepreneurs important for the economy?
  4. Small Business

    Serial Entrepreneurs Venture And Venture Again

    Serial entrepreneurs start up a venture, sell it, and start another one, and they often benefit from their previous experiences.
  5. Small Business

    5 Good Habits Every Entrepreneur Needs

    Understand who an entrepreneur is and what an entrepreneur does. Learn about the 5 good habits that every entrepreneur should have.
  6. Small Business

    Why Entrepreneurs Are Important for the Economy

    This article discusses the importance of entrepreneurs and their important value-add to the economy of a state.
  7. Small Business

    Entrepreneur Vs. Small Business Owner, Defined

    An entrepreneur is different from a small business owner, and requires a different temperament.
  8. Small Business

    The Real Risks Of Entrepreneurship

    Here are some ways you can try to reduce the risks associated with being an entrepreneur.
  9. Managing Wealth

    Build Your Wealth Like a Serial Entrepreneur

    Investing wisely is one way to build wealth, but serial entrepreneurs are rethinking the way they build their portfolios.
  10. Small Business

    Who Counts as an Entrepreneur?

    An entrepreneur is a person who starts a new business or organization, taking some personal financial risk to do so. He or she may quit a secure job to devote time to starting the new business, ...
Hot Definitions
  1. North American Free Trade Agreement - NAFTA

    A regulation implemented on Jan. 1, 1994, that eventually eliminated tariffs to encourage economic activity between the United ...
  2. Agency Theory

    A supposition that explains the relationship between principals and agents in business. Agency theory is concerned with resolving ...
  3. Treasury Bill - T-Bill

    A short-term debt obligation backed by the U.S. government with a maturity of less than one year. T-bills are sold in denominations ...
  4. Index

    A statistical measure of change in an economy or a securities market. In the case of financial markets, an index is a hypothetical ...
  5. Return on Market Value of Equity - ROME

    Return on market value of equity (ROME) is a comparative measure typically used by analysts to identify companies that generate ...
  6. Majority Shareholder

    A person or entity that owns more than 50% of a company's outstanding shares. The majority shareholder is often the founder ...
Trading Center