Let’s Talk Business: Successful entrepreneurs have these six things in common

Whenever we think of “entrepreneurship” and the successful entrepreneur, what may come to mind are iconic figures like Steve Jobs, Bill Gates and Mark Zuckerberg. There are always questions as what makes a successful entrepreneurs tick. Thankfully, there are various entrepreneurial traits that many successful entrepreneurs have in common. These traits are crucial to every successful venture. They make successful entrepreneurs who they are.
So, what traits are they? Here are six characteristics of successful entrepreneurs:
1. Determination/resilience
Starting a venture is an ultra-marathon. You must have the ability to live through uncertainty and push through limitless obstacles for years on end. Tenacity, as others would refer to it, is the number one building block that every successful entrepreneur must possess.

You must always be ready to begin all over again with zeal whenever failure or setbacks occur. Entrepreneurship entails dealing with repeated failure and learning from one’s own mistakes to perfect your art. Giving up or going the smoother way is no option for any successful entrepreneur.

2. Passion
Many people assume that successful entrepreneurs are driven by money. Apparently, most entrepreneurs will witness to the fact that they are fueled by their unending passion in what they do. They have passion in their products/service, with the belief that it will change the world.

You will be amazed at how much passion contributes to any successful venture. Love what you do and do it to perfection despite whatever others think.

3. Risk-taking
Call it tolerance of ambiguity. It is the ability to withstand the fear of uncertainty and any potential failure. It all draws to being able to manage fear. Being uncertain is part of every venture. Just like every coin has got two faces and so is every business venture. Success and failure are all possibilities for every business.

Being able to counter those fears takes you miles. It gives you the confidence to venture where others haven’t ventured and to hit the gold mines others didn’t out of the fear of failure.

4. Vision
This is the ability to spot an opportunity and imagine what others haven’t before. Every entrepreneur has a curiosity that enables him or her to see through the overlooked niches. This is what puts the entrepreneurs at the forefront of emerging fields and innovations.

They imagine another world and have the ability to communicate that dream to investors, the customers and the staff. Having a clear vision helps you map your next step clearly. It helps you not drift blindly. In other words, they have a clear goal and they know what they are going after.

5. Self-confidence
This is one key entrepreneurial trait entrepreneurs must have to succeed in their venture. You have to be sure that your product is the best. Conduct extensive research and present yourself without doubt. Make the world believe that you can get the job done.

However, remember that convincing the world that you have what it takes begins with convincing yourself that you’ve got what it takes. The moment you begin having doubts in yourself, so does the world.

6. Flexibility
Every venture must have the capacity to adapt for it to survive in today’s dynamic market. Your final product/service most likely won’t be anything similar to what you began with. Flexibility allows you to respond to the changes in tastes and other market conditions. Be honest with yourself and willing enough to say, “This isn’t working.”

These are the major traits that make every entrepreneur successful. You will see them inherent in every successful entrepreneur. They are the building blocks for every successful venture.

Source: Billie Bowe

www.caribbeannewsnow.com

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