Do you have the qualities of a successful entrepreneur? Those who do tend to share these 10 traits.
- Successful entrepreneurs have passion and motivation. They’ve found something they can work on over and over again without growing bored -- a job they want to do for the rest of their life.
- They will risk time and money, but they preserve resources for dealing with “unknown unknowns.”
- They are confident and enjoy what they do. Sometimes they come across as stubborn, but that demonstrates their discipline and dedication.
- Entrepreneurs are adaptable and flexible. They welcome any suggestion that can optimize their offerings and satisfy their customers.
- Entrepreneurs understand their offering and the market. They keep up with the competition and consider external factors that can lead to failure.
- Entrepreneurs manage their money. Profitability takes time, and until then capital is limited and must be used wisely. Successful entrepreneurs keep a complete handle on cash flows, the lifeblood of any business.
- Entrepreneurs plan appropriately. They plan as much as possible, but keep some dry powder in reserve, and handle the unexpected with the right mindset.
- They have networking abilities. They reach out to mentors to seek valuable advice.
- They are prepared to take the exit. Failure is not unusual, and sometimes it’s best to follow a practical route into a new venture instead of sinking resources into a lost cause.
- And lastly, entrepreneurs doubt themselves, but not too much. Ask yourself, can I do this? Do I want to do this? Instead of worrying about fitting in with someone else’s image, check your gut. That should tell you a lot.
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