8 Main Entrepreneurial Characteristics Needed For Success in Business – Essay in Powerpoint PDF PPT
What are the characteristics of an entrepreneur? It has been rightly said that an entrepreneur is a person who assumes business responsibility and risks that come along with it.
Although every entrepreneur is unique and differently endowed in terms of strengths, talents and other essential entrepreneurial characteristics and skills. However, those old or young entrepreneurs who have been remarkably successful in business exhibit common entrepreneurial skills as discussed below:
Entrepreneurs possess the ability to pay attention to details, especially when the venture is still young with less numbers of staff.
As an entrepreneur, you need to learn how to study entrepreneurial strategies and tactics and try out new ideas every single day as this is one of the most important competence and characteristics of an entrepreneur.
2. Good Communication skills
One of the most vital qualities of a good entrepreneur i have seen in most profitable small business and investments is good communication. It helps them relate with customers and with the public.
Most successful entrepreneurs have strong writing and speaking skills. These skills of an entrepreneur are essential to projecting the services and products as well as the image of the business owner.
Successful entrepreneurs are very optimistic about the outcome of their business and actions. Optimism, as a belief of a possibility rather than what is impossible is one key responsibility and characteristics of a successful entrepreneur.
This is the reason good entrepreneurs are able to forecast a future event and it sometimes happen as they forecast.
An optimistic entrepreneur seeks for solutions to problems, strive to get things done in a way that benefit the business. They don’t take no for an answer. They strive for a yes!
4. Risk Takers
Successful entrepreneurs know when and how to take risk. They also know that not taking risk is a risk itself.
It is a common scenario for all the entrepreneurs to face difficulties and unknown situations while trying to reach success. Those who gain success are the ones that took risk even when the odds were against them.
If you really want to become a successful businessman, you must step out of your comfort zone and take risk.
Now, don’t just start taking risk because you have heard that successful entrepreneurs take risk please. Good business men such as Steve Jobs and Bill Gates as entrepreneurs do their study before taking any risk. Such risks are called calculated risk and form the core of most common characteristics of entrepreneurs as a factor of production.
Every risk you take must;
-Comes from your own discernment.
-Have a backup plan in case it doesn’t come put in your favour.
-Have a 70/30% chance of success.
5. Big Dreamers
The first entrepreneurial trait for success is simple: Big Dreamers! Allow yourself to dream.
All great entrepreneurs begin with a dream of something wonderful and different from what they have today.
Imagine that you have no limitations on what you can be or do in life. What type of life do you want to live and what about your family? Dreaming big dreams is the starting point of achieving your goal of becoming a successful entrepreneur.
6. Good Learners
One other secret of social entrepreneurs is that they learn every day. They always assign one-hour of the day for their personal development.
They read books, listen to audios, watch videos and news on their niche of business. They don’t joke with personal development.
Check all successful entrepreneurs and you will find out that they all have library in their apartment. This means they read.
Continuous learning is the key to the 21st century. If you must succeed as an common entrepreneur then you must be improving yourself daily.
Devote yourself to one book per month. That will result to twelve books per year. Twelve books per year will translate into 120 books over 10 years.
7. Good Networking Skills
All entrepreneurs have goals. And if you want to help your business to succeed, then networking can play a major part.
Entrepreneurs find people who share their goals-customers or clients, or perhaps investors, volunteers, or contributors.
It’s a big mistake to believe that good products or services sell themselves.
Customers don’t buy because you tell them to-they buy because they trust you when you tell them it’s a good product.
If you need capital to kick-start your business, networking is the key. You should be able to build up your connections with the public. It simply means a good communication skill is one personal entrepreneurial characteristics you don’t want to lack.
8. Good leadership quality
Can you be able to handle the post of a boss? Well, if you want to see yourself as an entrepreneur then you must be prepared to be in the position of a boss. If you’re an introvert person, it might be tough for you to achieve success.
You need to open up yourself in front of people. You should possess the capacity to face challenges and provide solutions to other people’s problems including your own.
If you want to be a successful entrepreneur, then you must have all these common qualities and characteristics.
Your thoughts are welcome!