Successful Entrepreneur Qualities

INTRODUCTION

“Start-ups pursue opportunity with resources that don’t match the task; although they may have one or two critical ones such as a product idea or access to an experimental customer, they lack all the resources required to win.”

In this ever growing world there is immense possibility and opportunity for coming up with new ideas, bring them to reality and let the individual as well as the society benefit from it. To do this an entrepreneur should possess certain characteristics. These characteristics include and are not limited to understanding of the market environment, business understanding, ability to project and estimate cost and incomes, bringing ideas to reality. The list doesn’t end here. Hence, this report is made to bring

5 Qualities Of Successful Entrepreneurs By Stephen Key

2. 6 Lessons I Wish I’d Known Before My Business Failed By Jesse Kramer

3. 10 Behaviors You Never See In Successful People by Steve Tobak

4. 10 Traits All Successful Entrepreneurs Share by Thomas Smale

5. HBS’s Howard Stevenson : What Big Companies Can Learn From Start-ups

6. 25 Common Characteristics of Successful Entrepreneurs by James Stephenson

7. The 7 Traits of Successful Entrepreneurs by Joe Robinson

8. 10 Personality Traits Every Successful Entrepreneur Has by Jim Price

ANALYSIS

Many authors have thrown light on the various abilities and traits that an entrepreneur should have in his repertoire. After going through many articles, some of the below points can be understood.

1. Unwavering Passion

2. Open Mindedness

3. Desire to be an expert

4. Forward Looking Approach

5. Constant Flow of Ideas

6. Perseverance

7. Resilient

8. Decisive in nature to arrive at conclusions.

9. Financially Prepared with the projections and estimations of the inflows and outflows.

We can also approach this with another angle. We can see what an entrepreneur should keep in mind in order to not fail.

1. Swallow his pride – Anyone should know when to stop and when to

Building a business that needs you to grow but can run without you – Idea of the business should be such that the people following can continue what you have built. Also, your own individual input help in running the business smoothly as well as lets it grow.

6. Do not start a business with your spouse – Personal relationships more often than not impede the growth of a business. The advice here is to never mix business with personal relationships.

Behavior wise there are certain behaviors that do work and that do not work with the business. Some examples are

1. Quick-fix mentality – Aspiring for too much in very less time period is what gets people greedy and then pushes them out of the competition.

2. Acting out – Putting out all the frustration on the people who work with you should be avoided. One must learn to control his emotions in dire situations too.

3. Selfishness – A selfish entrepreneur can never allow the business and the other stakeholders to grow.

4. Living in the past or future – Holding on to the past or thinking too much about the future will spoil what you could have done today.

5. Indifference – A very casual and careless attitude is a recipe for