Home Entrepreneurship Common Characteristics of Successful Entrepreneurs:4

Common Characteristics of Successful Entrepreneurs:4

by Olufisayo
characteristics-of-successful-entrepreneurs

Self-esteem

Strong sense of self-worth; content to be yourself; good understanding of your strengths and weaknesses; constructively attempt to overcome weak points.

Commitment

Dedication to the goal without being. distracted or deterred; goal modification may take place, but the ultimate objective is maintained.

Innovation

Ability and desire to discover new methods, including new ways of managing the business to be more effective, original ways of marketing the product, or creative ways of improving it. A resourceful approach, constantly improving and changing is characteristic of successful entrepreneurs.

Long-term perspective

Comprehension of the long-term goal so that each step of the business plan can be seen in context. This attitude makes the short-and medium-term goals clear and easy to attain. The successful entrepreneur can, therefore, tolerate substantial frustration and delay by focusing on long-term objectives.

Positive outlook

You will need to be an optimist to survive the false starts, near-failures, and disappointments that every entrepreneur faces; you have to be an objective, pragmatic realist, but must believe that goals can and will be attained.

       

The technical and industrial knowledge

Comprehensive understanding of the industry and products or service that the business depends on directly; access to resource people with additional knowledge. Anyone who starts a business in an area that is foreign to him or her is risking failure.

Human relations

Ability to understand and interact well with people of varying personalities and values. This is important when dealing with employees, bankers, investors, partners, suppliers, or customers and is reflected in characteristics such as sociability, consideration, cheerfulness, cooperation, and tact.

Access to financial resources

Ability to obtain funding when needed; awareness of all the funds that might be available and how to obtain them.

Desire for money

Respect for money and learning how to deal with it wisely; an ongoing awareness of the factors that influence profitability in each part of the business so cash flow can be monitored and prudent decisions made based on risk and profit potential; an understanding of financial and accounting methods.

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1 comment

Pst. Bless June 25, 2011 - 1:44 AM

I quite agree with you, in addition to all you ve highlighted, i will want to say “faith” you must of necessity have faith in God and in yourself that you are gonna make it

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