Top 7 Entrepreneurial Traits Needed For Success

Source : A Touch of Business.com

Entrepreneurial Traits: Entrepreneurial Traits - symboloized by a man at his deskSo you think you might be the next Bill Gates but those around you are telling you that you just don't have what it takes?

Well, people have studied entrepreneurs for years, trying to determine what makes them successful at starting a business.

Why are some people more persistent than others? Why are they willing to take risks?

What keeps them from feeling overwhelmed? How can they spot an opportunity that others fail to see? In general, what makes someone a successful entrepreneur?

What Is an Entrepreneur Anyway?

Are you an entrepreneur? How do you know? Well, first you need to understand what an entrepreneur is.

According to most modern dictionaries, an entrepreneur is someone that starts a new business when they see an opportunity at hand – an opportunity with success written all over it.

However, finding such opportunities is not easy and when found, even more difficult to turn into something of worth.

The Small Business Administration (SBA) keeps the stats on business failures and claims that more than half of new businesses will disappear in the first five years.

That is why it is important to determine before you begin if you have what it takes to make it as a business owner.

Top 7 Entrepreneurial Traits Needed For Success

Here are the seven characteristics that researchers find over and over again. If you have these traits, your odds of success are far greater than those that do not.

• Self -Confidence – This means that you trust your abilities. You are willing to face the adversities that are going to happen. You believe you have what it takes to act upon and solve these problems.

• Risk - Taker – This means you trust your hunches, even without a lot of evidence. Keep in mind, however, that success isn't about luck. Once you have the idea, effort and hard work must take place.

• Financial Savvy – You must understand the value of money and have an understanding for how much things cost. Most entrepreneurs learned this skill at a young age by earning their own money through endeavors such as babysitting or mowing lawns. Entrepreneur typing on a computer4. Observant – You know what the next trend is going to be by observing what is going on around you. You will always be looking for new ideas and new ways to make money.

• 5. Competitive – You want to win and you are not afraid of others out there that feel the same way. You know how to stay ahead of others.

• 6. Strong Work Ethic –You are honorable and have a strong work ethic. By making your deals honest, you have an excellent reputation.

• 7. Knows When To Relax – Although you understand the value of hard work, you also know when it is time to step back and enjoy leisurely activities. You realize that burning yourself out is not the way to succeed.

Having these characteristics is not a guarantee that an entrepreneur will be successful. But with these characteristics, an entrepreneur has just the right ingredients for success.

Luckily, the items on the list are learnable. If you want to be an entrepreneur, be honest with yourself and then get to work.

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