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Traits of A Successful Entrepreneur

Successful entrepreneurs have 1) a clear vision of their business goals and market, 2) passion that drives them to work hard despite challenges, and 3) determination to persist in the face of rejections or mistakes and try different approaches. They also demonstrate 4) a strong work ethic, 5) confidence in their ideas, 6) flexibility to adapt plans as needed, 7) sales and promotion skills, 8) prudent financial management, 9) willingness to ask for help from experts, and 10) resilience to overcome setbacks.

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340 views2 pages

Traits of A Successful Entrepreneur

Successful entrepreneurs have 1) a clear vision of their business goals and market, 2) passion that drives them to work hard despite challenges, and 3) determination to persist in the face of rejections or mistakes and try different approaches. They also demonstrate 4) a strong work ethic, 5) confidence in their ideas, 6) flexibility to adapt plans as needed, 7) sales and promotion skills, 8) prudent financial management, 9) willingness to ask for help from experts, and 10) resilience to overcome setbacks.

Uploaded by

zckid5136
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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1.

Vision
Successful entrepreneurs have a clear vision of what their business will be and can concisely
articulate its purpose, goals and market position. They have identified (and can succinctly
describe) the who, what, where, when and why of their business.
2. Passion
A successful entrepreneur is passionate about their business. It is hard work, and putting in
long hours will be tough if you don’t love what you are doing. People with passion know
what it is that drives them to keep working to achieve their vision.
3. Tenacity (4 determination)
Entrepreneurs remain tough when the going gets rough. They don’t give up easily. They can
accept rejection and are willing to learn from their mistakes. They are willing and able to
adapt and modify their plan in order to be successful the next time around.
The successful entrepreneurs are never greatly impacted by the defeats they encounter. For
them, failure is like an opening for a success story, and hence, they try again and again just
till they get the success they are expecting. Moreover, these entrepreneurs are not wired to
believe that some things are not possible and cannot be done.
4. Willingness to work hard
Being an entrepreneur is harder than being an employee. To be successful, the
entrepreneur must be willing to put in the time and effort required, often for little or no pay
at the beginning. Successful entrepreneurs recognize the risk and necessary work that
achieving their goals will entail.
5. Confidence
Successful entrepreneurs have confidence in themselves and in their business. They must
believe in their ability and in their idea. Every entrepreneur will face rejection along the way
and successful entrepreneurs are those with the confidence to keep going and bounce back
after a setback.
6. Flexibility
Things do not always go as planned. A successful entrepreneur is flexible. They learn from
their mistakes and are willing to adapt and change as they go along. They take advice from
others and are open to trying new approaches
7. Can sell
An entrepreneur must be comfortable selling. Even with a sales team, the leader must
be an expert at networking and be able to promote themselves and their business to
bankers, customers, suppliers and staff.
8. Prudent with money
Successful entrepreneurs are good money managers. They prudently invest in overhead and
always keep track of the money and manage their cash flow.
9. Willing to ask for and accept help
An entrepreneur needs to be a jack of all trades but the most successful entrepreneurs
know their limitations, realize they can’t do everything and are willing to delegate to others.
They are willing to ask for help. They seek out and pay for expert advice when needed.
10. Resilience
No matter how successful your business, there will be bumps along the road. A successful
entrepreneur is resilient and can bounce back from a setback. They use setbacks as an
opportunity to learn and grow. They understand that failure is part of the game.

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