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10 Qualities of the Successful Entrepreneur

March 18, 2013

After several decades in the business world, and many years as a business owner, the qualities that make for a successful business person are becoming increasingly obvious. Here are 10 that I’ve noticed:

People Person - Entrepreneurs love to interact with people. This does not necessarily mean they are extroverts. It may simply mean they are willing to listen, pay attention to the little details that separate them from the pack, and create a relationship with the customer that keeps them coming back for the entrepreneur’s product or service over and over.

Genuine - Entrepreneurs are clear on what their strengths and weaknesses are and recognize what talents they need from others. They are not afraid to surround themselves with people who are better than they are in certain skillsets.

Initiator - Entrepreneurs are ready, willing, and able to take the lead on projects and assemble all the elements needed to move forward with any project. They can share their vision or strategy clearly with team members, and inspire others to get things done.

Supportive - Successful entrepreneurs encourage a positive environment that allows their teams to excel. They recognize they are not able to ‘do it all’. They acknowledge other’s strengths and create a reward system that best motivates their teams and produce results.

Risk Taker - Entrepreneurs understand that in order to make a profit, they will need to assume a certain level of financial risk. Wise entrepreneurs mitigate risks with careful planning. Still, they will often push themselves beyond what most people find comfortable.

Focused - Great entrepreneurs know where they’re going, are passionate about their purpose, have strong focus and stay the course. They are intense about what they want and what they seek to achieve. Some entrepreneurs fail when they try to become all things to all people, or try to do too much out of their area of excellence. Focus helps you say “yes” to the right things – and “no” to others.

Confident - Entrepreneurs often see opportunities long before most people. They have confidence in themselves and in their vision. They can show people what they know – and be willing to articulate what they don’t. They are unafraid to take the next step and learn the ‘unknown’.

Self Starter - Entrepreneurs understand that if something is going to be done right they need to be the one to do it. They are easily motivated and often have to ‘narrow down’ the many choices they see before them.

Constantly Curious - Entrepreneurs have an active mind and recognize as the business owner/manager they have to have a firm understanding of many aspects of the business from finance to marketing to business development. They are constantly learning, subscribing to business magazines, podcasts, blogs, etc.

Marketing Expert - Entrepreneurs are capable of understanding and implementing marketing strategies. In today’s world this calls for being resourceful, capitalizing on opportunities to sell a product or service.

How do you rate? Not everyone is born with these traits; all can be learned. What do you think are other ‘characteristics’ to be successful in business?

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