Essential Qualities of a Successful Entrepreneur

  • The current state of the economy has prompted many individuals to leave their careers and pursue success as an entrepreneur. Making your own hours, limitless revenue possibilities and of course being your own boss is in essence the “American Dream.” However, who is destined to find success as a private business owner, and who is not? What are the essential qualities of a successful entrepreneur and the difference between them versus someone who will be forced to return to the comfort of the carefully structured corporate work force?

    There are very specific qualities that every successful entrepreneur possesses and these include being a risk taker and a leader, being creative, confident and organized.

    These are of course umbrella categories for sub-categories that may also be beneficial, however these are the qualities that seem to be an intrinsic character qualification for some of the most notable and successful entrepreneurs. What is most important to keep in mind is not simply being able to check off these qualities, but being able to adequately apply them to get your business up and running. Entrepreneurs are those individuals who can take a creative design and implement it to increase their bottom line. Each one of these qualities is equally valuable in the process. Miki Agrawal

    It is without a doubt that at some point individuals who plan to pursue a career as an entrepreneur will have to make the decision to leave their current career. The stability of a corporate position with a consistent
    stream of revenue is not replicated on the entrepreneurial front. Initially you may not make any money, with no guarantee that your efforts will ever pay off. This is the risk that most successful entrepreneurs are willing to take to secure the future of their business. Donald Trump, who has all the essential qualities of a successful entrepreneur and is renowned for these in America has been quoted saying “I have made some tough decisions, but always with an eye towards the bottom line.”

    Most entrepreneurs do not work well under others but work extremely well with others. A successful entrepreneur can effectively convey their creative design to others in order to complete a common task. More importantly an entrepreneur who finds success is also prepared to deal with unexpected delays, or barriers in production or progress. How an entrepreneur deals with initial failure is critical to the long term success of their business.

    Entrepreneurs have confidence in themselves and confidence that their design will succeed if properly executed. The confidence entrepreneurs exude extends to those around them and is an extension of their leadership skills. A lack of confidence will almost certainly equate to failed opportunity. Entrepreneurs must be vigilant even in the face of seemingly insurmountable odds, in fact almost unrealistic at times.

    Having an idea and executing an idea are two separate things, and organization is a key element in ensuring the idea is shaped into a coherent business plan that can be executed. Most successful entrepreneurs are able to organize their thoughts as well as their businesses in order to optimize results. Failure to properly plan could be a disaster for a business owner. They say “today’s preparation determines tomorrow’s achievement.” These are the essential qualities of a successful entrepreneur.

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