20 Qualities of Successful Entrepreneurs (Part 2)

August 27, 2010 | By | 4 Replies More

20 Qualities of Successful Entrepreneurs

Read Part 1: 20 Qualities of Successful Entrepreneurs

10. They embrace fear.

Successful entrepreneurs strongly believe in themselves. In fact, many of them are supremely confident individuals. However, their strong belief in themselves doesn’t necessarily mean that they don’t experience self-doubt. They do! They experience fear, but instead of running away from their fears, they embrace what they fear the most and just plod on.




11. They exhibit tolerance towards ambiguity.

Even though there is no assurance that a business will succeed, entrepreneurs are not daunted by this uncertainly and instead continue to pursue the idea of starting a business.

12. They see opportunities where others do not.

Those who succeed in business have finely honed business skills based on their environment, education, experience and innate intuitive abilities. What sets them apart is their inherent sense of what is “right” for a business. They have the ability to spot opportunities for growth, with loads of courage to pursue these opportunities. They love the challenge of pitting their resources and skills against the environment.

13. They are not afraid to make mistakes.

Successful entrepreneurs are not afraid of making mistakes because they see it as an opportunity to learn and improve. They don’t focus on blame and retribution, and instead work on finding solutions to rectify the mistake and prevent it from happening again.

14. They seek out help when needed.

A businessman and two businessman joining, hands in an office.Successful entrepreneurs realize that they don’t know everything. They will pull in resources and seek the advice of experts to help them achieve their goals. They know that they key to getting things done is to find the right people who can do the job. They understand their strengths and weaknesses – and find people who can complement them in areas that they need the most.

15. They have the willingness and capacity to persevere.

Entrepreneurs possess a high level of energy, sustainable over long hours to make the business successful. They welcome the responsibility that goes to owning a business. They are tenacious, always finding a way to display persistence or able to dig deep within oneself to find it. When things don’t go their way, they are able to handle thousands of rejections along the journey.

16. Good interpersonal skills.

They recognize that much of their success will depend on how well they deal with people. While success in entrepreneurship takes rugged individualism, it’s a “team sport” at it’s core.

17. Discipline.

Successful entrepreneurs possess huge doses of discipline. Discipline is important to stay focused on their objectives and vision. The process of building an idea into a business entails working on a lot of details — some of which the entrepreneur may not want to deal with — but it is discipline that makes the entrepreneur work on completing every task. As an entrepreneur, it is easy to go off strategy, including the allure of not working (for home-based entrepreneurs, that mean sleeping or watching TV instead of working), and discipline keeps them on the right track.

18. They keep their focus.

Successful entrepreneurs understand that focus is a key ingredient to the success of their business. They know the importance of identifying and concentrating on making the unique aspects of their business as superb as possible. They are clear on what their business stands for, and stick to it. They don’t have to grab all opportunities that come their way or try to do too much too quickly. They keep their eyes on the prize and spend their resources, time and energy in focusing on the attainment of their goals — running and developing a successful, profitable and viable business. Every day, their focus is how to further enhance their business.

19. They are flexible.

Successful entrepreneurs are always on their toes, ready to make the shift if needed. They know that as the business grow, the needs of their business changes and they will require help in developing and executing their vision. Their managerial skills become critical, and their understanding of the market and competition becomes crucial. They know that sleeping on the job is the worst mistake an entrepreneur can make, and they always strategize and prepare for change.

20. They love what they do.

Successful entrepreneurs are passionate with what they do. They love what they do, and their work feels more like fun, play and inspiration. They more they are having fun and loving what they do, financial rewards come easier. They are energized by the activities and challenges of their business. Even if they fail often, their passion keeps them going until they get it right.

Before committing yourself to the extraordinary investment of time, energy and money that starting a business requires, you need to engage in some personal soul-searching. You need to review your pluses and minuses, your strengths and weaknesses to determine if you are a suitable match for the challenge. Remember, the entrepreneur IS the business – its originator, its motivating force, and its energy. Without the needed ingredients, the business can fail as quickly as it started.

Read Part 1: 20 Qualities of Successful Entrepreneurs

Check out the slideshow How to Succeed in Business: 10 Qualities of Successful Entrepreneurs”

GD Star Rating
loading...
GD Star Rating
loading...
20 Qualities of Successful Entrepreneurs (Part 2), 3.8 out of 5 based on 10 ratings

Tags: ,

Category: Starting a Business, Entrepreneurial Success

About the Author ()

Isabel Isidro is the co-founder of PowerHomeBiz.com. A mom of three boys, avid vintage postcard collector, frustrated scrapbooker, she also manages Women Home Business, Starting Up Tips and Learning from Big Boys.

Comments (4)

Trackback URL | Comments RSS Feed

  1. James says:

    Hi Isabel,

    You have so much information on this site. Reading the 20 Qualities of Successful Entrepreneurs I once again find that I seem to tick most of the boxes. I just wish it was that simple.

    I’d be interested to arrange an online video interview with you sometime if you are interested.

    Hope we meet on line soon either way,

    James

    GD Star Rating
    loading...
    GD Star Rating
    loading...
  2. Susan says:

    Being open to what presents as far as opportunities go is important. Asking for help to fill in the blanks of what you are missing is a key to your success.

    GD Star Rating
    loading...
    GD Star Rating
    loading...
  3. Richard Essi says:

    Loving what they do, not afraid to make mistakes and persevering are the points that really speak to me. These three values in my opinion is what makes you successful before you even start!!

    GD Star Rating
    loading...
    GD Star Rating
    loading...
  4. Lifepath Unlimited says:

    Great list. Lots of these are all about risk taking and having discipline… no wonder many people out there aren’t cut out for being entrepreneurs.

    GD Star Rating
    loading...
    GD Star Rating
    loading...

Leave a Reply

*