Home Entrepreneurship Common Characteristics of Successful Entrepreneurs:2

Common Characteristics of Successful Entrepreneurs:2

by Olufisayo


The belief that you control your success or failure, and that it is not decided by luck, circumstance, or external events; belief in self-determined destinies and that you have the ability to achieve the goals you have set.

Moderate risk-taking

Ability to identify risks and weigh their relative dangers; preference for taking calculated risks to achieve goals that are high but realistic. Risks are moderate, contrary to the stereotype that entrepreneurs are gamblers or high risk-takers.

Persistent problem-solving

Ability to resolve problems effectively and resourcefully; determination to look on problems as challenges; capacity to deal repeatedly with a multitude of such challenges, showing willingness and tenacity. Desire to pay attention to detail and obtain all the information required to-test solutions so the best one is attained.


Self-reliant nature; desire and willingness to initiate action without needing or taking direction from others; ability to solve problems, fill a vacuum, or lead others when the need exists; attracted to situations where your impact on problems can be measured.

Entrepreneurs perceive themselves as strong, capable, and in control, which allows them to be innovative and creative in expressing their ideas; entrepreneurs are active individuals who want to work on their idea immediately so that they can see results at once.


Drive and energy level

A high level of stamina is important to meet the intense demands of running a business; ability to work hard for long hours with less sleep than normal is essential; prepared to make personal sacrifices in order to reach objectives successfully; single-mindedness until your goal is reached.

Willingness to consult experts

Desire to seek the assistance of others when it is required to accomplish your goals; entrepreneurs often work alone and can become so independent that they request help from no one; successful entrepreneurs avoid that trap.

Physical health

Staying healthy is essential to the intense demands and ongoing pressures of your own business, especially during its early years.

If you are ill, there might not be anyone to take over the business. Even if there is a plan for a temporary manager, that person is unlikely to be as committed or knowledgeable as you. In either case, the effect on the business could be disastrous.

Also, remember that there is no paid sick leave for the owner-manager of a business.


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