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Characteristics of Successful Entrepreneurs

Written by: Florence Edwards

Article Overview: This article highlights the most important traits of successful entrepreneurs.

Characteristics of Successful Entrepreneurs

Many people dream of being their own boss and being in control of their financial
destiny. Entrepreneurship has allowed people of various backgrounds, ages and ethnicities
to live their dreams-on their own terms. According to the U.S. Census, the number of U.S.
businesses have increased dramatically by 10% since 1997, and the numbers are still
growing.

The recent interest in entrepreneurship has been fueled in part, by the heightened
popularity of Hip Hop culture and the moguls that made it a global phenomenon.
Hip Hop has accelerated the entrepreneurial spirit- especially among young African
Americans. Hip Hop icons 50 Cent, Damon Dash, Jay –Z and Russell Simmons have all
made millions from their entrepreneurial endeavors. Born in poverty stricken, drug
infested neighborhoods, these Hip Hop geniuses have shown that entrepreneurship pays
off through hard work and dedication.

Celebrities aren’t the only ones cashing in from their entrepreneurial efforts.
Many professionals are leaving their ‘secure’ jobs to work for themselves. With constant
corporate downsizing, entrepreneurship seems to provide an exciting alternative to the
current unstable job market. With the success of Bill Gates and others, many people aspire to work for themselves. The most popular question asked by many aspiring entrepreneurs is ‘What does it
take to be successful in running your own business?’

Most people are oblivious when it comes to knowing the secret formula for success.
How do you know if you have what it takes? I am glad you asked.
These tips will help you decide if you have the skills needed to go out on your own.

1. Entrepreneurs exude self-confidence in themselves and their product/service.
One of the most important characteristics that successful entrepreneurs have is their
ability to believe in themselves and their talents, regardless of the criticisms they may
receive. They have a strong sense of self and believe in their service or product.
Criticism does not take them off course. They know that ultimately, it is their beliefs
about themselves that will determine their level of success.

2. Entrepreneurs don’t accept failure-only success.
When a business idea fails, they continue to strive to meet their goal. They only see
success as an option and failure as a learning experience. The late John H. Johnson,
entrepreneur and founder of the Johnson Publishing Company stated “When I see a
barrier, I cry and I curse, and then I get a ladder and climb over it. Failure is a word I don’t
accept.”

3. Entrepreneurs are self-motivated.
Many entrepreneurs tend to rely more on their abilities to create advantages out of
disadvantages. They are determined to win and create their own opportunities even
when none are present.

4. Entrepreneurs are persistent.
Dr. Farrah Gray, entrepreneur and teen millionaire states “Persistence isn’t everything-
it’s the only thing. If you are going to be a success in life, you’ll hear “no” thousands of
times. Look at every “no” as an opportunity.”

5. Entrepreneurs always have a plan for success.
Planning is essential to being a successful entrepreneur. It enables you to reach your
goals and establish new ones. Planning also keeps you on the right path and
focused on your ultimate goal. Operating a successful business doesn’t happen
overnight, but planning is one of the most integral components of success.

There are other characteristics that entrepreneurs share but this list highlights the
basics. Everyone is born with a unique talent or gift to share with the world.
If you think you have the tools for success, the best thing to do is to start acting on your ideas. Without action, nothing is possible. The best entrepreneurs are the ones who believe in themselves and take action-one day at a time.

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  Do You Have What It Takes?

Article Tags: aspiring entrepreneurs, bill gates, corporate downsizing, damon dash, entrepreneurial spirit, ethnicities, financial destiny, formula for success, geniuses, global phenomenon, hip hop culture, jay z, moguls, running your own business, russell simmons, self confidence, sense of self, successful entrepreneurs, u s census, unstable job market



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