10 Important Personal Characteristics of Entrepreneurs

July 25, 2018

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What are successful entrepreneurship characteristics?

Being an entrepreneur requires much more than just big ideas. A true entrepreneur
is a rare breed; it’s someone who possesses a unique cocktail of traits, skills and
characteristics that enable them to beat the odds and go after their dreams full
throttle. But what are those attributes? What does an entrepreneur need to
succeed? While we’d all love an entrepreneur's handbook that tells us whether we
have the ‘E Factor’ or not, the truth is that there is no right or wrong answer—
there is no discernible formula. But that doesn’t mean to say there aren't a handful
of traits we can pinpoint that are specific to entrepreneurs. Here are some of the
attributes that, in our experience, successful entrepreneurs tend to posses s in
abundance.

1. Entrepreneurs are goal-oriented

Entrepreneurs are all about setting goals and putting their all into achieving them;
they’re determined to make their business succeed and will remove any
encumbrances that may stand in their way. They also tend to be strategic in their
game plans and always have a clear idea in mind of exactly what they want to
achieve and how they plan to achieve it.

2. Entrepreneurs are committed to their business

Entrepreneurs are not easily defeated; they view failure as an opportunity for future
success, and if they don’t succeed the first time, they’ll stay committed to their
business and will continue to try and try again until it does succeed. A true
entrepreneur doesn’t take ‘no’ for an answer.

3. Entrepreneurs are hands-on

Entrepreneurs are inherently proactive, and know that if something really needs to
get done, they should do it themselves. They’re ‘doers’, not thinkers, and tend to
have very exacting standards. They view their business as an extension of
themselves and like to be integral in its day-to-day operations—even when they
don’t have to be.
4. Entrepreneurs thrive on uncertainty

Not only do they thrive on it—they also remain calm throughout it. Sometimes things
go wrong in business, but when you’re at the helm of a company and making all the
decisions, it’s essential to keep your cool in any given situation. True entrepreneurs
know this and secretly flourish and grow in the wake of any challenges.

5. Entrepreneurs continuously look for opportunities to improve

Entrepreneurs realize that every event or situation is a business opportunity, and

they’re constantly generating new and innovative ideas. They have the ability to
look at everything around them and focus it toward their goals in an effort to
improve their business.

6. Entrepreneurs are willing to take risks

A true entrepreneur doesn’t ask questions about whether or not they’ll succeed —
they truly believe they will. They exude this confidence in all aspects of life, and as
a bi-product, they’re never afraid to take risks due to their unblinding faith that
ultimately they will triumph.

7. Entrepreneurs are willing to listen and learn

The most important part of learning is listening—and a good entrepreneur will do

this in abundance.

8. Entrepreneurs have great people skills

Entrepreneurs have strong communication skills, and it’s this strength that enables
them to effectively sell their product or service to clients and customers. They’re
also natural leaders with the ability to motivate, inspire and influence those around
them.

9. Entrepreneurs are inherently creative

This is one trait that, due to their very nature, entrepreneurial business people have
by the bucket load. They’re able to not only come up with ingenious ideas, but also
turn those ideas into profits.

10. Entrepreneurs are passionate and always full of positivity

Passion is perhaps the most important trait of the successful entrepreneur. They
genuinely love their job and are willing to put in those extra hours to make their
business grow; they get a genuine sense of pleasure from their work that goes way
beyond just cash.
Very few people are fortunate enough to be born with all of these characteristics,
but the good news is that they can all be learned. Nowadays there are webinars,
seminars and books you can sign up for to learn the rules of being a great
entrepreneur. So what are you waiting for? Get those entrepreneurial juices flowing!

Define Entrepreneurial Success

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Image credit: Shutterstock

Jacqueline Whitmore

CONTRIBUTOR

Author, Business Etiquette Expert and Founder of The Protocol School of Palm Beach

March 1, 2016

Why is it that some people succeed more than others? Is it an innate ability, present from birth,
or a learned behavior? What are the traits that identify a successful entrepreneur?
According to Sangeeta Bharadwaj Badal, Ph.D., Senior Researcher, Entrepreneurship at Gallup,
“Innate talents seem to make some people better at noticing new business opportunities and more
likely to be risk-takers, natural salespeople and adept at cultivating social networks -- all traits
that drive entrepreneurial success.”

Badal studied and interviewed 2,500 U.S. entrepreneurs to learn and understand just what actions
and choices led to the creation and growth of businesses. Through this study, she and her team
consistently observed 10 behaviors and discovered that every entrepreneur uses some of these
talents to start or grow a business.

Badal and Gallup Chairman Jim Clifton published their findings in a book titled, Entrepreneurial
StrengthsFinder (Gallup Press, September 2014).

The 10 talents of successful entrepreneurs are:

1. Business focus.

Decisions are made based on the effect of profit, whether observed or anticipated.

2. Confidence.

The entrepreneurs know themselves and have an understanding of others.

Related: 8 Ways to Boost Your Confidence

3. Creative thinker.

The people in this study exhibited creativity in taking an existing product or idea and turning it
into a better one.

4. Delegator.

Successful entrepreneurs aren’t afraid to let others assist. They realize that they cannot do
everything themselves and are willing and able to allow a shift in style and control.

5. Determination.

Every entrepreneur goes through difficult times. While some throw in the towel, subjects in this
study persevered through difficulties.

6. Independent.

Independence doesn’t necessarily mean working alone, as these successful entrepreneurs have
shown. They are able to do whatever is needed to be done to make the venture successful.
Related: What Makes a Successful Entrepreneur? Perseverance.

7. Knowledge-seeker.

Those who succeed are always seeking relevant knowledge that will help their business.

8. Promoter.

Nobody promotes the business better than its owner. This person is able to clearly convey what
the business is about and convince others of its value.

9. Relationship-builder.

Entrepreneurs realize that it’s the people around them that can help them the most and build
relationships with those who can benefit the business for its survival and growth.

Related: If You Don't Build Relationships, Nothing Else Matters

10. Risk-Taker

Any new venture or growth involves risk. The successful entrepreneur has an instinctive
knowledge of how to mitigate and manage high-risk situations.

According to this research, entrepreneurs perform best when they are able to utilize their
dominant natural talents. While education and training may help, having the innate ability will
make the job easier. Therefore, entrepreneurs need to recognize their talents and create a
consistent effort to nurture them to full fruition.

What do you see as your best talents? Sales? Organization? Idea generation? Once you identify
your top skills, put your energy into developing them further. For those parts of the business at
which you are not talented, or have no interest, find others to take over those responsibilities.
With a focus on your talents, you’ll be able to point your venture in the direction of success.