Learn the True Characteristics of Top Entrepreneurs | Passion & Risk!

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The True Characteristics of an Top Entrepreneurs

As we’ve discussed in prior posts, top entrepreneurs may look different but all share a certain set of characteristics. By definition, an entrepreneur establishes new business ventures and assumes the financial responsibilities.  However, as we’ve discussed, becoming an entrepreneur requires practicing leadership on a daily basis in measurable ways and is much more than just capital and a new idea.

Are having the true characteristics of top entrepreneurs inherently vital to entrepreneurial success?

The short answer is that those who possess the appropriate qualities have more chance of success. The characteristics that matter include:

  1. A passion for business. Successful  top entrepreneurs take on failure and mistakes while remaining positive. You need to be able to persevere even when your energy is depleted. Perseverance is often fueled by enthusiasm and interest for your business.  Jordan Dolin, the co-founder of Emmi Solutions, said it best: “Entrepreneurs may blindly follow their passion but they are certainly not dumb. They choose to downplay the risks, underestimate the competition, and overestimate their talents because they are driven by an overwhelming curiosity.”  It is this overwhelming curiosity and unflagging passion that will drive your success.
  2. Ability to take risks.  Business is about taking risks against challenges, and some or most of them are against a fierce and larger competition. This is not to say that you should dive into every problem head first. There are risks that should only be taken after very careful deliberation.  But the ability to flush out the risks and make risky decisions are what sets successful entrepreneurs away from the rest.
  3. Being quick-thinking. No business is without problems and a characteristic of a successful entrepreneur is to meet these challenges quickly and have the ability to see the problem from a different angle.
  4. Driving leadership.  Not all individuals are born leaders so for some, the skills we’ve mentioned in our leadership series [link to other blog posts about leadership] will need to be practiced and learned until they become reality. Being a leader is not only about setting the direction from the front, it is also about guiding and directing from the side.
  5. Possessing Honesty.  Practicing living and operating honestly will lead to a higher chance of success in the long run. When your clients are confident both in your product and also in you as a person, they become clients for life.  Besides being honest with your customers, you also need to be trustworthy with your employees. Your employees are usually the first line of communication between the business and the client and employees that believe in you as a manager will be better positioned to protect the business and refer it to others.

If you don’t have these characteristics yet, you can learn and practice them.  Once you feel comfortable with these skills, all you need to do now is to study the market carefully, think of a good business venture, provide for the capital and you’re all set.

 

Very best wishes for your every success,

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