Common Characteristics of Successful Entrepreneurs:5


Thinking ability

Includes original, creative, critical, and analytical thinking; an entrepreneur should have a curious mind and strive to think effectively. A capacity for problem-solving, especially under pressure, is particularly important.

Selling ability

Ability to convince others of the value of the product or service offered; particularly important when talking to bank managers, customers, or sales people or in any form of business negotiation; personal belief in the value of the product or service is prerequisite.

Ability to communicate

Must be able to use words effectively, both verbally and in writing, and be able to explain concepts in a way that can be easily understood; ability to present proposals clearly to influence bankers or investors to supply money, to enable employees to understand the exact nature of their job and the results you expect and to encourage customers to buy.

Courage

The will to act on your convictions despite obstacles or personal cost. Successful entrepreneurs frequently give up their jobs to embark on a new venture. Deciding to risk the unknown, at the expense of the security of a regular salary and benefits such as health insurance, pension plans, profit sharing, and paid vacations takes a lot of courage. In addition, the prospective entrepreneur frequently has to face friends, family, and spouse who do not always understand or support his or her desire for self-employment, with all its attendant risk and uncertainty, and the commitment of time, energy, and resources.

Age

There is no ideal age for someone starting a business, although having enough life experiences, self-awareness, and self-confidence is important.

It is common for people to wait until family and financial demands, or other considerations are reduced. On the other hand, external circumstances such as a layoff can force a ~decision earlier than originally planned. Ages 30 to 35 seem to be a time when people consider self-employment. Another significant age bracket is 50 to 55 when your financial situation may have stabilized and children are independent.

Family background

Successful entrepreneurs often have a spouse, parent or close relative who operates his or her own business; these individuals can provide networking, financial support, as well as understanding, encouragement, and constructive feedback.



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