Tweet

Characteristics of Successful Entrepreneurs Part 1

Written by: Carrie Langstroth

Article Overview: For starting an Internet based business, you may need to invest a great deal of time and effort.

Characteristics of Successful Entrepreneurs Part 1

The word entrepreneurship appears to be synonymous with freedom, power and innovation. Becoming an entrepreneur seems as the perfect solution for those who are fed up of obeying instructions, ambitious about their goals and passionate about carving out a niche for themselves.

However, becoming a successful entrepreneur is easier said than done. A successful entrepreneur has certain distinct personal, professional and psychological traits.

Characteristics of Successful Entrepreneurs

If you have just started a home-based or Internet-based venture, or are considering a similar option, you should analyze yourself. There are certain successful entrepreneurs']);"> characteristics of successful entrepreneurs that may be inherent and the rest can be imbibed. These traits include:

• Self-confidence: Entrepreneurs must be extremely self confident about handling day-to-day issues and problems arising in the business. They must also be confident enough to cope with the risks associated with the business.
• An eye for opportunity: Most entrepreneurs start a venture by seeking a need and an opportunity and capitalizing on them.
• Learn quickly: Successful entrepreneurs enjoy receiving feedback. They are also able to learn from mistakes and failures.
• Discipline: Entrepreneurs have the capability to restrain themselves from doing unimportant tasks, letting their minds wander and losing focus. They have the ability to prioritize and focus on what is best for their venture.
• An appetite for hard work: Most entrepreneurs start by working long, hard hours with little or no pay. They are not driven by monetary rewards but the thirst to achieve something. They also love challenges and are motivated by a need to test their limits.
• Independence: Almost all entrepreneurs enjoy being their own boss. However, they learn to work within a framework for the sake of providing consistent service to customers and maintaining stable profitability.
• Quick judgment: An entrepreneur should have the ability to think quickly and make a calculated decision.
• Ability to accept change: In business, market trends change frequently and a successful entrepreneur adapts to the change rapidly. He also possesses a strong urge to initiate change and thrives on improvising on the existing technologies and trends.
• Make stress work for them: Entrepreneurs are always on a roller coaster ride to success. They often cope with the ups and downs of the business by focusing on the end result instead of on the process of getting there.
• Need to achieve: Although successful entrepreneurs keep an eye on profits, they give prime importance to their drive for personal success.
• Focus on the market: Entrepreneurs have good communication skills and are more attuned to listening rather than talking. Moreover, they always have their fingers on the pulse of their market.

A successful entrepreneur also requires:

• Good health and should be a source of energy.
• To be emotionally stable.
• Sufficient funds for starting the business and supporting oneself during the tough startup period.
• Good money management skills
• Intelligence to take calculative risks.

To succeed in business, entrepreneurs must be able to:

• Set realistic, attainable goals.
• Influence and inspire others.
• Trust others and delegate responsibility.

Related Articles
  Characteristics of Successful Internet Entrepreneurs
  Successful Entrepreneurs - 3 Must Have Characteristics
  Ten Most Admired Characteristics of Successful Business Coaches, According To Your Strategic Thinking Business Coach
  “Thirteen Thoughtful, Tried and True Characteristics of Successful Entrepreneurs”
  Do You Have What It Takes?

Article Tags: characteristics of successful entrepreneurs, internet based business, starting an internet based business
Referred by: http://jaykubassek.com



Related Forum Posts
Re: What's 1 word to describe what your business will be in 2012 - Successful.
CEOs and Email - Slaves? - I wonder if the emails they are responding to are filtered thru their assistants first 'cos they seem to spend a lot of their off hours responding to them. True they are successful but I'm not sure I'd be willing to pay that price. I'd be interested to know what's the in the typical day planner of Entrepreneurs on the Forum. Entrepreneurs are a different breed than Paid Employees- so it would be interesting to view the contrast.
Patent information - I'm also interested in Part 2. Thanks.
Books for Women Entrepreneurs - There's a thread for good books in the Resources folder, but it doesn't target books for businesswomen particularly, so I figured I'd start such a thread here. It doesn't matter how successful you are in your business - it's always possible to learn something new. In subsequent posts I give Table of Contents and brief descriptions for various titles - most of them devoted to the businesswoman - and sometimes a review. If anyone else has read a review, or has read the book and found it useful, please comment! 1. The Old Girl's Network 2. Mother's Work 3. The 7 Greatest Truths About Successful Women 4. Pitch Like A Girl 5. Workplace Warrior 6. Treasure Hunt: Inside the Mind of the Modern Consumer 7. Contingency Planning & Disaster Recovery 8. She Wins, You Win 9. Napoleon On Project Management 10. Why Good Girls Dont' Get Ahead, But Gutsy Girls Do 11. Comeback Moms: How to Leave Work, Raise Children, and Restart your Career even If you Haven't Had a Job in Years 12. The One Minute Millionaire 13. Talking From 9 to 5 14. Soloing: Realizing Your Life's Ambitions 15. 101 Best Home Based Businesses for Women: Everything You Need to Know About Getting Started on the Road To Success 16. Work With Passion: How to Do What You Love for a Living. Revised and Expanded 17. Fail-Proof Your Business: Beat the Odds and be Successful 18. Confidence: How Winning Streaks and Losing Streaks Begin and End 19. Women Don't Ask: Negotiation and the Gender Divide 20. Millionaire Women Next Door: The Many Journeys of Successful American Businesswomen 21. Start Small, Finish Big: Fifteen Key Lessons to Start - and Run - Your Own Successful Business 22. Rewired, Rehired or Retired: A Global Guide for the Experienced Worker 23. The Martha Rules: 10 essentials for achieving success as you start, build or manage a business 24. The Essentials of Entrepreneurship: What it takes to create Successful Enterprises 25. Net Ready: Strategies for Success in the E-conomy 26. The Promotable Woman 27. Leave The Office Earlier: The Productivity Pro shows you how to do more in less time and feel great about it 28. The Work At Home Balancing Act: The professional resource guide for managing yourself, your work, and your family at home 29. Secrets of Six-Figure Women
Patent Process - Interesting to hear your experiences with the patent process - what's Part 2?


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

How to Sell to the Price Driven Customer

An Intelligent Contact Sheet

Selling On Ebay The Good The Bad And The Ugly

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.