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.
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