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Neha PalTop Contributor
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Asked a question 2 years ago

What are some characteristics of successful entrepreneurs?

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Entrepreneurship is all about making an impact, whether it is on the world or on your own life. Believe it or not some people are entrepreneurs just to become recognizable and rich, and others do not mind working in silence while changing the world one step at a time.

Here is the list of some points which makes an entrepreneur successful :

  • Passion : Passion is the most important trait of the successful entrepreneur. They genuinely love their work. They are willing to put in those extra hours to make the business succeed because there is a joy their business gives which goes beyond the money.
  • Self motivated. Doesnโ€™t require external motivation and rewards to be persistent and work hard. May be measurable as Higher Conscientiousness in Big 5 Personality Test.
  • Works hard. Pushes himself or herself aggressively to achieve their goals. Hard work always pays off. Hard work can defeat any one and with hard work plus true determination can make you do anything.
  • Fluid intelligence. Intuits patterns that others miss, switches easily between problem solving strategies to find alternatives when posed with problems not immediately solvable with previous strategies.
  • Risk Taker : Entrepreneurs are risk taker they are ready to dive deep into a future of uncertainty. But not all risk takers are successful entrepreneurs. Successful entrepreneurs are will to risk time and money on unknowns, but they also keep resources, plans and bandwidth for dealing with "unknown unknowns" in reserve.
  • Competitive Spirit : Entrepreneurs enjoy a challenge and they like to win. They would have to since starting a business is pretty much one of the biggest challenges a person can take on in their lifetime.
  • Leadership Quality : Leaders are born, not made. A leader is someone who values the goal over any unpleasantness the work it takes to get there may bring. A leader has strong communication skills and the ability to amass a team of people toward a common goal in a way that the entire team is motivated and works effectively to get there as a team.