Qualities of a Great Entrepreneur

by gpacx
7 replies
A lot of people choose the field of entrepreneurship, but not everyone succeeds. Being good in your field is one thing, but being successful is great! Following are some of the qualities that successful entrepreneurs possess specifically:

QUALITIES:

Backup plans
Every entrepreneur who's successful isn't so on his first try. Some need to keep on trying to reach the height of their entrepreneurship. That is why when these people start their career, they always have a backup plan for everything they start. In case their plan A fails; they always have their plan B ready.

Competitive
Don't take it in a negative sense. Successful entrepreneurs are always in a competition, but not with others, rather with themselves. They're always finding ways as to how they can improve themselves, so they can produce a product which may be better than the last!

Determination
Successful entrepreneurs are always determined. They don't give up if they have setbacks in life, they always strive to move forward in life.

Creative Minds
Successful entrepreneurs have unique and career oriented minds. They are creative, and their minds work in a distinguished way as compared to others.

Leadership Skills
You can't expect to be successful if you don't possess the skills of leadership. You need to run a whole company, and unless you have good control over your employees, your company won't prosper.

Broad Minded
One of the most important qualities that an entrepreneur can possess is the quality of being broad minded. One cannot expect to prosper if they keep working on the same scheme throughout their lives. They need to keep adding something new and different, to give a touch of uniqueness to their business. A conservative entrepreneur holding on to the same ideas can never be successful.

Discipline
One of the major qualities, a successful entrepreneur, needs to be disciplined in every aspect of life.

Conclusion
These are some of the must have qualities that an entrepreneur may require if he aims to be successful in his business. Entrepreneurs are of all sorts, but to succeed in one's aim needs to be the life goals of every entrepreneur.
#entrepreneur #great #qualities
  • Profile picture of the author unlimitedoptions
    Hi:

    I'll add one more attribute to your list of qualities:
    Consistency-
    Successful entrepreneurs are consistent in their planning, execution, and follow up.

    They show up for work each day prepared and ready to adapt and overcome obstacles.
    Here's an expression I saw the other day when I was reading through some materials--

    HELLO
    My Name is
    CONSISTENCY
    I make it happen day in and day out.
    YOU MIGHT KNOW MY GOOD FRIEND
    SUCCESS
    We're Always Hanging Out....

    Cheers,

    Dan
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  • Profile picture of the author AussieCoz
    I know one entrepreneur in particular who has a quality that you didn't mention.

    Risk.

    He takes massive risks and he wins and fails big time.

    You list sounds a little conservative to me and probably a little like something people that aren't entrepreneurs would write.

    Sure, some entrepreneurs may have some of these qualities but ALL entrepreneurs take massive risks.

    The guy in particular that I am referencing has gone bankrupt 3 times from big business risks and he has been married 3 times too - which I guess outlines the massive wins and fails that you need to be willing to take to be a great entrepreneur.

    There are plenty of people out there who are still getting there and some of the greatest qualities of some I have met who are succeeding are:

    - their ability to take risks
    - their sheer one minded-ness to achieve their goals
    - unrelenting passion
    - the drive to push through barriers
    - charm
    - attitude
    - self belief
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  • Profile picture of the author discrat
    Knowing when to Give Up and when to NOT Give Up


    - Robert Andrew
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  • Profile picture of the author Julien Fletcher
    Honesty
    Integrity
    Discipline
    Persistence
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  • Profile picture of the author JohnVianny
    The MOST IMPORTANT?


    FOCUS.

    You have to be ALL-IN !


    What is the last time you dedicated and ENTIRE DAY on only one task and go out only
    AFTER doing it?

    That is FOCUS.

    Rinse and Repeat.
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  • Profile picture of the author blackli0n
    Willingness to play with ideas that weren't designed to make money.
    For some reason, those end up being the biggest money-makers for me.
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  • Profile picture of the author GregFreelancer
    First of all a little shameless plug for my own writing. FORGIVE ME!!! I wrote a similar article recently compiling some interesting facts and research about how successful people spend their time daily, which I think is slightly relevant here. The link is below:
    http://www.warriorforum.com/mind-war...u-can-too.html

    Now entrepreneurship presents a slightly different situation in certain ways. Although a lot of successful entrepreneurs apply skills that might be more generally associated with success, there are--as you identified above-- a few select characteristics that are either necessary, or very helpful if you aspire to be an entrepreneur.
    Being broad minded rang especially true for me. A talented entrepreneur must be alert and constantly vigilant, able to assess the markets trends and openings with preternatural finesse. They have to be able to shift, as you said, to different areas and tasks if they want to be successful. The broad scope of modern international finance and business can be a difficult beast to keep track of, let alone tame. If you do not have a comprehensive understanding of your own market and niches you will not attain success independently in business.
    The other quality you mentioned which I thought was great, and perhaps even a little under emphasized, was creativity. Not only is a good entrepreneur aware, he navigates business fluidly and innovatively. Being able to come up with new ideas to reach consumer is maybe the most important thing an entrepreneur needs. Other wise, he or she has little hope. I mean, if you can't find something unique to be doing in business, why wouldn't people spend their own money elsewhere?
    There are a few that I think you left out. I guess they aren't necessarily qualities you MUST have, but rather things that are good to do. They are:

    BE SELF PROMOTIONAL ALL THE TIME
    When you are on your own in business, you are your brand. You have to constantly be trying to conjure up new ways to get your name out there and generate buzz. Are you on all the social media outlets? Facebook? Twitter? Instagram? Are you piping up online when you have the opportunity? Are you communicating and advertising your expertise effectively? As you said above, a good entrepreneur has to have good back up plans. So, if they are promoting themselves in such a way that is not generating much interest, they need to readjust.

    BE ORGANIZED
    In a way, this is very similar to being disciplined, or at least, it is a type of discipline. In all my personal business experience and in everything I have witnessed, staying on top of your schedule, your work load, clients expectations and your own can be overwhelming. However, if you organize your life in such a way that it accomadates and elevates all of those demands, then you are well on your way to being a great entrepreneur.

    AND... DRUMROLLLLLLLLLL

    FOLLOW UP CONSTANTLY
    This is huge. Always be following up, always. Always check in with your customers, clients, partners, whomever, and ask for feedback. You have no way to grow without figuring out what you need to improve upon, and other people are absolutely the best resource for that. They can offer an objective, third party account of what you are doing, and help you to change for the better. Why not get some help when trying to figure out what works, and what does not?
    Sorry for all that rambling. I JUST REALLY LIKED THIS TOPIC!
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