Entrepreneurs – Top 10 Essential Entrepreneurial Traits

Are you intrigued by the possibility of being your own boss and starting a business, but not sure if you have the right qualifications to be an entrepreneur? What are the characteristics of an entrepreneur? Although there is no single perfect business profile, there are many characteristics that appear repeatedly in successful entrepreneurs.

The following are the top 10 essential business traits that anyone interested in starting a business should possess:

(1) Independence – This is the most common denominator of all entrepreneurs. They want to take control of their future; so they decide to become their own boss instead of working under the eye of a master.

(2) Persistence and Determination – The world of entrepreneurship is full of successes and failures. An important quality of a successful entrepreneur is the tenacity to continue pursuing a goal despite some setbacks and obstacles they may encounter along the way. This persistence and determination is fueled by a burning desire to achieve the goal of being successful in your chosen business field.

(3) Self-confidence – Along with independence, an entrepreneur possesses self-confidence. They believe in their capabilities and make sure that they will put their best effort into their particular endeavors and also expect the best results from it. Believing in your own abilities is very important to achieve any goal, especially in the world of entrepreneurship.

(4) Creativity – In the business world, you can’t afford to be complacent and uncreative unless you want to push the competition ahead of you. Creative people are naturally curious, inquisitive, bright, and very flexible when it comes to thinking. They carefully observe their environment and have a good eye for detecting new trends that could generate a business opportunity.

(5) Organized and goal oriented – An entrepreneur knows the value of the organization in a business venture. A good entrepreneur has the ability to consolidate resources.

(6) Visionary – An entrepreneur has a vision for his future.

(7) Risk Assumption and Failure Tolerance – A good entrepreneur realizes that loss and failure are inherent in any business. Therefore, an entrepreneur must always be ready to take calculated risks and face the consequences that accompany those risks. As in all fields of endeavor, the hallmark of a successful entrepreneur is never to give up and pick up the pieces and continue the journey even if failure momentarily stands in the way.

(8) Perseverance and Hard Work – These are perhaps two of the most important business traits.

(9) Commitment – An entrepreneur will not achieve success if he gives up at the first sign of trouble.

(10) Honesty and Honor – Another very important mark of a good entrepreneur is being honest and honorable in all business dealings and interpersonal relationships, whether it be between business partners, employees, peers, or investors.

If you possess these traits, you may have the necessary skill set to become a successful entrepreneur.