8 Essential Entrepreneurial Traits

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8 Essential Entrepreneurial Traits

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Not sure you have the right qualifications to be an entrepreneur? What are the characteristics of an entrepreneur? Although there is no single perfect entrepreneurial profile, many characteristics show up repeatedly in successful business owners.

8 Essential traits recommended for the aspiring entrepreneur:

  • Independence –This is the most common denominator of all entrepreneurs. They want to seize control of their future; thus they decide to become their own boss.
  • Persistence and Determination –An important quality of a successful entrepreneur is the doggedness to continue pursuing a goal despite some setbacks and obstacles they may encounter on the road. This persistence and determination is fuelled by a desire to achieve the goal of succeeding in the chosen field of business.
  • Self-Confidence –They believe in their capabilities and make sure that they put in their best effort into their particular endeavours’ and likewise expect the best results from it. Belief in one’s capabilities is very important in achieving any goal – especially in the world of entrepreneurship.
  • Creativity –You cannot afford to be complacent and uncreative unless you want the competition to move up on ahead of you. Creative people are naturally curious, inquisitive, bright and highly flexible when thinking. They observe their environment and have an eye for spotting new trends that could spark a business opportunity.
  • Organized and goal-oriented –An entrepreneur knows the value of organization in a business endeavour and has the ability to consolidate resources.
  • Visionary –An entrepreneur has a vision for his/her future.
  • Risk-taking and Tolerance for Failure –An entrepreneur must always be ready to make calculated risks and face whatever consequences accompany those risks. As in all fields of endeavour, the characteristic of a successful entrepreneur is in never giving up and in picking up the pieces and continuing the journey even if failure momentarily obstructs the way.

(8) Commitment – An entrepreneur will not achieve success if he/she gives up at the first sign of trouble.

If you possess some or all of these traits, you may have the necessary skill set to become a successful entrepreneur.


Author: Steven Stott, Consultant at Middlesex University Enterprise Development Hub

 

 

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