What are the Characteristics of Entrepreneurs?The characteristics of entrepreneurs are numerous ? a successful entrepreneur possesses a combination of traits that show both innovation and leadership qualities. Scholars from around the world have worked tirelessly to discover just what characteristics make a good entrepreneur; what exactly makes up a business founder's x-factor? While a lot of the findings are still pretty much open to debate, there's no questioning that great entrepreneurs have the following traits:
AmbitionA good entrepreneur is driven to make something of himself. He knows what he wants, and he sets a course to get it. His motivation to achieve something can sometimes be overwhelming, and the urge to establish himself can be quite consuming. An entrepreneur's ambition is often the key ingredient that gets him off of his chair and puts him into action, turning his daydreams into reality.
EnthusiasmOften coming hand-in-hand with ambition, enthusiasm plays a great role in the entrepreneur's motivation. While ambition may be the key to the entrepreneur's ignition, enthusiasm is the gas. Every successful entrepreneur has a positive outlook giving him the energy to pursue his endeavors. Without enthusiasm, an entrepreneurial project will slowly wither into inactivity and failure.
PrudenceToo much enthusiasm, however, can also be an entrepreneur's downfall. Too many hopefuls have fallen prey to overconfidence. It's easy to gloss over some glaring faults to your entrepreneurial blueprints when you're extremely excited with the prospect of your business becoming a success. A good entrepreneur knows when to step back and look at the big picture. Entrepreneurship is one of the biggest risks you'll ever take in your life, and prudence allows you to make calculated risks. Prudence will act as your safety net, making you question every move you make so as to avoid any serious problems.
CreativityWhen problems do arise, you can count on creativity to bail you out. Creativity is probably what led you to envision your company in the first place, and it'll be creativity that will help you realize the possible solutions to any hitches that might come your way. Successful entrepreneurs find inspiration throughout the entire process, and often discover ways to turn roadblocks into opportunities.
Decision-makingEntrepreneurs call all the necessary shots. While their creativity makes them men of ideas, it's their ability to make decisions that will make them men of action. The decisions that entrepreneurs make will determine the fate of the company, and it's only through decision-making that things will actually happen. An entrepreneur with poor decision-making skills will have his company caught in a state of inactivity and degradation; good decision-making skills, on the other hand, will ensure that the best possible measures in putting up the business will be enforced.
PerseverancePerhaps the most important of all the characteristics of entrepreneurs is the ability to withstand the troubles that come with starting a business. Beginning a new enterprise is an immensely difficult task, and as an entrepreneur, you'll have to stick through the storms and stress if you want your venture to be a success. It sometimes takes years for a good idea to start making you money, but when it does, you'll be glad you stood strong in the face of adversity.
By Ryan Donahue June 23, 2009 0 comments