Identifying some of the qualities a successful entrepreneur needs to possess

Entrepreneurs require a number of attributes and characteristics that will contribute to their success, some of which are an inherent part of their personality traits, although others can be learned.

Determination and realism

It is highly unlikely that any budding entrepreneur will succeed unless they have the will power and drive to make it happen. Furthermore, while many people have business dreams, only a small number make them come true. Many fail because the individual has not sat down and planned a realistic path to achieving their aims. In other words, they have not thought through the process of achieving success properly and understood what needs to be done and how to do it. The successful entrepreneur will take his or dream and think through everything that is needed to make it come true, analyzing and evaluating the strengths and weaknesses of themselves and the business, as well as the opportunities and threats that are liable to benefit or disadvantage their business going forwards. They will then construct a plan for the future that will build upon their strengths and seek to protect against, or help to reduce the impact of their weaknesses. All of this evaluation process will be conducted before they take the first step to business success.

Vision and Leadership

To succeed, an entrepreneur needs to have the vision to be able to see an opening for an idea; a market area that is not being sold or a new and unique way of creating, developing, selling or promoting a product or services in a manner that is more successful than their competitors. This will give them the competitive advantage. Similarly, as it is unlikely that most businesses will become successful without relying on others, such as employees, the entrepreneur will also need to have leadership skills. The relationship with staff, suppliers and customers is a very important part of success and all of these people will follow, engage and interact positively with a good leader. They will believe in him or her and thus give of there best to help the entrepreneur achieve his/her aims, knowing that success will ultimately improve their own future.

Belief

In addition to belief in themselves, an entrpreneur also needs to have belief in the product or service that is being offered to the consumer. There are those that subscribe to the idea that a good salesperson can sell anything. Whilst, to a certain extent this may be true, it is important to recognise the difference between a good salesperson and one who cares about their product/service and, more importantly, cares about the consumer they are selling to. Set them side-by-side and in every instance, the one who cares and believes in the product/service offering and knows it will benefit the consumer, will be the most successful.

Sincerity and honesty

Akin to belief are the attributes of sincerity and honesty. These apply to the entrepreneur and the manner in which they act with everyone they come into contact with during the course of their business activities. A good businessperson will be sincere about their own abilities, knowing what they can and cant do and, in the latter case being honest enough to find someone who is better able than themselves to perform tasks they cannot fulfill. They will not make false claims to encourage a sale; neither will they cast blame on someone else for their own faults or shortcomings.

Learning

Perhaps another of the most important aspects of persons looking for success is that they continue to seek out knowledge. The entrepreneure understands that there is a need to keep learning, to increase their knowledgeabout the market, consumer and product changes. Furthermore, they will always be prepared to listen to other people and learn from them. In fact, the thirst for knowledge remains an integral part of their business plan.

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