15 Characteristics Of Successful Entrepreneurs – Do You Have Them?

Most people are longing to start their own businesses. But do they know what it takes to become successful entrepreneurs? What about you? Which characteristics of successful entrepreneurs do you bring in the business you have or you intend to begin? Before going any further into the details, let me define an entrepreneur as someone, who makes money by starting businesses with some kind of financial risk-taking involved. Is that what you are?

Well, every person joins business with various reasons. These reasons usually determine the performance of the business. I have discovered that many people think that success in business depends upon being highly educated, having lots of money and a supportive family. However, the bottom line of success in your business is motivation, fuelled by the desire to achieve and the enthusiasm to do your business. A highly motivated person tends to behave in a certain way that leads to success and it’s a distinguishing factor of all successful entrepreneurs. How motivated are you?

Through this article, allow me to share with you 15 characteristics of successful entrepreneurs that are fundamental to building a successful business. If you are aiming at succeeding in your business, then it’s high time you started acquiring the following behaviors.

1. BE AN INNOVATOR. To succeed you have to be creative. All successful entrepreneurs think a lot differently from ordinary people. They see things other people have not yet mirrored and are able to introduce new things and new ways of doing things.

2. LEARN TO SOLVE PEOPLE’S PROBLEMS. Successful entrepreneurs are problem solvers. They have the ability to identify specific problems of a given customer group, which require their products or services to be solved. As they solve their customers’ problems, they end up making money. Turning people’s problems into great opportunities is one of the characteristics of successful entrepreneurs.

3. BE AN INFORMATION SEEKER. There is no successful entrepreneur who is not hungry for knowledge. You have to get new knowledge, new information and new skills for you to become successful in what you are doing.

4. PERSISTENCE WILL HELP YOU TO SUCCEED. All successful entrepreneurs keep on and on no matter how hard the going may be. They are success-conscious and believe in succeeding despite all roadblocks. They believe that riches come only to those who work hard and long. Indeed! By working hard and consistently long, riches begin to power so quickly and in such a great abundance that you even wonder where they have been hiding during all those years of toiling.

5. LEARN TO SET GOALS. This helps them to know where they are going and how to go there systematically. Without setting goals you are like someone who is blindfolded and asked to shoot the target. You will never know where the target is and you will only be gambling.

6. COMMITMENT TO WORK. How committed are you to your work? Successful entrepreneurs are able to initiate and to pursue their work contracts to the end. They are self-driven and do not need anybody to drive them, to supervise them.

7. DEMAND FOR EFFICIENCY AND QUALITY. Demanding for efficiency and quality is one of the characteristics of successful entrepreneurs. They detest mediocrity and can never settle for that. They are able to achieve the desired results without wasting their energy. They always aim at offering goods and services of the highest quality.

8. BE HARD WORKING. Successful entrepreneurs are hard working people. They spend a lot of time, energy and other resources working on their businesses to achieve the desired results. They inspect to get what they expect. They think big and strategically.

9. AIM AT ACHIEVING YOUR GOALS AND DESIRES. All successful entrepreneurs are achievers. They do not give up when faced with a temporary defeat. They do not despair because they are highly motivated people. Whatever they put their hands and their minds on, they commit themselves to achieve it. Until they achieve it, they do not stop. Even after achieving it, they look forward to strengthen their achievements.

10. BE A RISK TAKER. Taking moderate risks is another characteristic of successful entrepreneurs. They don’t fear to take risks. FEAR to take risks discourages initiative, brings about uncertainty of purpose, destroys ambition, kills enthusiasm, destroys good reasoning and stops you from taking action. Besides, there is nothing you can engage yourself in without any risks involved.

For instance, by just driving your car to go to work, you risk getting involved in an accident. But if you already know it, you take precautionary measures to avoid getting an accident other than opting not to drive. That’s how successful entrepreneurs go about their business. They anticipate the risks involved and think of how to overcome them in case they manifested.

11. DESIRE TO BE INDEPENDENT. Desiring to become independent is one of the characteristics of successful entrepreneurs. They have a strong drive to be masters of their own life, to take their own decisions and to pursue their own destiny.

12. LEARN TO CONTROL YOUR OWN DESTINY. Successful entrepreneurs control their own destiny. They don’t lose focus of what they pursue. Having a strong desire to walk their road to riches is one of the characteristics of successful entrepreneurs. The end justifies the means.

13. BE DETERMINED. Successful entrepreneurs are so strong-minded that they do not give up despite any obstacles. They are always determined to transform their desires and thoughts into their monetary equivalent at any cost.

14. HAVE SELF-CONFIDENCE. Successful entrepreneurs don’t depend on luck. They are able to visualize and they believe in the attainment of their desires at all cost. Ability to visualize and to have faith in the attainment of your desires is an important factor in building your self-confidence.

Developing a high level of self-confidence is a key element in effective business management and success. You need to be sure of yourself to tackle the tasks at hand. You need to have high expectations of achieving success. If you think you can, then you can. But if you think you can’t, the chances are that you cannot. “Yes, we can”, is the winning formula President Obama applied to become president. You, too, can follow the same principle to become a successful entrepreneur.

15. Last but not least, BE CREDIBLE. Credibility is an important element to the success of any businessperson. In my article entitled “Personal Branding, A Key To Success In Your Business”, I emphasized the importance of credibility. Let me not overemphasize the same point but it’s the absolute truth that successful entrepreneurs are credible and honesty paves the way for them to succeed. Will this information help you?

The Meaning That Defines an Entrepreneur

Entrepreneur Defined Explained

Among the world of business today the people that are at the centre are known as entrepreneurs other names they can be recognized for are businessmen, they are the sole owners who run the business however the meaning of a real entrepreneur varies.

Entrepreneurs are very much interlinked to the American business world, if you look back in history you will find that the term entrepreneur has been recognized as the adamant part involved in the economy since the mid 1970s so depending on the concept with each various meaning comes from the understanding of today’s society.

Webster’s revised dictionary defined that back in 1913 entrepreneurs were the people who make products for a beneficial purpose only, so it would seem that over the years this term has successfully evolved from back in the 1913s, in today’s world though this definition would seem quite blurred.

You may ask yourself how a person can be known as an entrepreneur when all he seems to do is produce a product. What then is a person recognised as that takes and labels some other persons product and makes a success from them? Would they not be named as an entrepreneur as well? According to the Webster’s dictionary an entrepreneur is a person who organizes, manages and takes on all the risks that are relevant to that business this definition is richer in content compared to the one above the risks they face are the ones that most businesses face with their investments in the market.

Social entrepreneurs are people who start up a new line of business within the health, educational and many other subjects that they feel they can promote within the social change, a definition that was put forward by Ashoka refer to the entrepreneur as a person that organizes society that promotes social change.

Those people who lead the innovations within the world of commerce is better known as a business entrepreneur where as those who are known are social entrepreneurs are the marketers that drive social change to society. To sum all this together such definition points out that a business entrepreneur can not only start and promote any type of business but they can also promote change within this industry, one entrepreneur defines the term as a person who decides to take hold of his own future and becomes a self employed person earning his own income from the products he wishes to promote creating his own business, he can also joint venture becoming part of a team such as multi level marketing.

For a person to be called an entrepreneur he needs to be daring by taking risks he needs to accept the challenges of either winning or losing in the business world and keep an open mind to the possibilities with the results from that business,

What skills do you require to become an entrepreneur?

There are a few pointers that need to be addressed before you venture into the business of entrepreneurship the following list can help you prepare:

Plan and organize: This is part of the setting up and specifying that goal that you wish to commit to keeping to the work schedule that you put in place.

Working with people: socializing with people is always needed in an entrepreneur for if you cannot interact or influence people chances are you will not succeed.

Handling money: Your budget is important your business needs to be carefully worked out, all financial transactions have to be recorded such as loans and other costs you may encounter while you are setting up your business; the entrepreneur has to be an expert in this field.

Selling products and ideas: The entrepreneur needs to know the correct way of selling, it does not matter whether it is the form of information or a material product you will still need to know the correct method to selling as this is the only way you are going to make a profit.

Management: some say if you do not have management skills that you should not be an entrepreneur, I disagree with this in some respects somewhere inside each of us is the skill to manage ourselves you decide what is the right or wrong way to do things if you are working with a budget you know how much you need to put aside for business expenses, everyone is a manager of his own life in some way or another, If you truly desire to become an entrepreneur then you will.

Risk taking: Like any business venture risks are there, winning is not always possible there are two possibilities one is winning the other is losing, whichever one confronts you anyone with good business sense will know how to handle the problem.

Good luck with your future

Be an Entrepreneur

You know those people, right? Those people that are always wheeling and dealing; making deals with almost everyone they meet. Those people are surely entrepreneurs, right? They probably are not. Strictly defined, an entrepreneur is someone that manages an enterprise. Making deals might be a part of being an entrepreneur, but it isn’t everything.

So, who is an entrepreneur? Being an entrepreneur is so much a part of who we are as humans that anyone can be an entrepreneur. Being an entrepreneur encompasses everything that we humans seek out; social interaction, competition, building alliances, helping others and doing all this in a way that benefits society as a whole. If any of these things are activities that you like to do, then you can be an entrepreneur. You just need to learn how, right?

Learning how to be an entrepreneur, a good entrepreneur, is a lifelong process. You don’t have to have a formal education, in other words a college degree, but you do need to learn. What you need to learn depends on what you want to do as an entrepreneur.

A common way people are entrepreneurs is to be business owners and operators. If you have a passion for a product or service, this might be for you. If you aren’t a hands-on type of person, you may want to be an investor and invest in companies that you believe in. This can be done through stocks or by simply finding a privately owned business and buying it. In this way, you can let more qualified people make the business successful.

Any business, whether operated by you or simply owned by you, requires knowledge of the market, local, state and federal laws (possibly international laws, too), knowledge of accounting, marketing, business management and a variety of other trades. You don’t have to be an expert, but you either have to have enough knowledge or know people that have enough knowledge if you want to be successful.

So where do you get the information you need to be a successful entrepreneur? You probably aren’t going to find all of the information you need all in one place. Legal knowledge can be found in law books at a library and online, or you can hire a lawyer. Libraries and book stores are great places to find information on marketing, accounting and industry specific information. Trade magazines and online news groups and associations are great places to learn from other people how they accomplished their goals and how to avoid problems they experienced in their endeavors.

You now know a little bit of what you can do and how to get the information you need to move forward with being an entrepreneur now. Have fun and enjoy the journey.