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.
Small BusinessBeing a successful entrepreneurs requires more than just an idea or a lot of money. Here are ten things that set successful entrepreneurs apart.
Small BusinessDiscover 10 habits common to successful entrepreneurs that you can emulate in your journey toward achieving success in your own career and life.
Small BusinessWhy are entrepreneurs important for the economy?
Small BusinessSerial entrepreneurs start up a venture, sell it, and start another one, and they often benefit from their previous experiences.
Small BusinessUnderstand who an entrepreneur is and what an entrepreneur does. Learn about the 5 good habits that every entrepreneur should have.
Small BusinessThis article discusses the importance of entrepreneurs and their important value-add to the economy of a state.
Small BusinessAn entrepreneur is different from a small business owner, and requires a different temperament.
Small BusinessHere are some ways you can try to reduce the risks associated with being an entrepreneur.
Managing WealthInvesting wisely is one way to build wealth, but serial entrepreneurs are rethinking the way they build their portfolios.
Small BusinessAn 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, ...