Personal Characteristics of Successful Entrepreneurs

  • An overpowering need to achieve, as opposed to a need to be liked, or to exercise power.
  • The trait of following through on a commitment, not quitting half-way through when the going gets tough. In short, perseverance.
  • Positive mental attitude, or the ability to remain optimistic in difficult situations, which essentially grows out of being self-confident about one's abilities.
  • Objectivity. The ability to accurately weigh and assess risks associated with a particular course of action, as well as being realistic about one's own abilities and limitations.
  • A respectful attitude toward money, but a tendency to look upon money as a means for accomplishing things, or a way of keeping score in the game of business, rather than as a thing to be sought as an end in itself.
  • The tendency to anticipate developments and to make things happen, rather than constantly reacting to problems as they arise.
  • Resourcefulness. The ability to solve unique problems in unique ways, to be able to handle things that come up for which the entrepreneur has no previous experience to rely on as a guide.
  • Personal relations. The successful entrepreneur usually has an emotionally stable personality, is cheerful, cooperative, and usually gets along well with (without necessarily being close to) employees and associates.
  • Communication skills are well developed, both in oral and written presentations.
  • Technical knowledge is usually well-rounded, and the successful entrepreneur generally is knowledgeable about the physical process of producing goods and services, or at least can effectively utilize information regarding the physical process.

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