Basic Qualities of an Entrepreneur?

AmazingP

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Not all people have the qualities and traits needed to succeed as an entrepreneur. Though we also have to understand that nobody is born an entrepreneur – everything can be learned as long as there is enough motivation and that will to make dreams come true. So what are the qualities a person has to adopt first on the way to becoming another income-producing entrepreneur? Here are at least 5…

1. Dreams and motivation: Without a dream a person could wither and perish. It is then very vital that a person has self-motivation all the time -- much more for entrepreneurs who are willing to take some risks being a pioneer in a business or project. There is no point of letting yourself down. Always go forward in the face of challenges and setbacks.

2. Stick-to-it attitude: To persevere is to succeed. As there would always be problems and disappointments left and right, holding on to your dreams would be the right thing to do. Believing in yourself and what you are offering to the marketplace is very critical.

3. Relational skills: Business is not really all about money and products -- it is also about how we deal with people – from our employees, clients, suppliers, customers and others. We must be good in relating and communicating to people to align them to our vision. Communicating effectively at all levels is a must. Learn it and you got it for life.

4. Risk taking: Learn to make calculated risk as this is a major ingredient for success. An entrepreneur knows when to trust their hunch. Just remember that foolishness is different from a calculated risk. Do your due diligence and feasibility of a project before starting it.

5. Good time management: Learn the important skills on how to mange time so that you can be productive without necessarily sacrificing some aspects of your life. With the right skills in organizing things at the right time, all the tasks are done efficiently. Never give in to the monster called procrastination especially if you are working only by yourself. The best thing to do is to have a checklist of things to accomplish with a specific timeframe.

Do you have what it takes to be an entrepreneur?
 

Cecil Estrera

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Well I have a small business now which I'm trying hard to last for a long period of time.
And such attitude like self discipline, sticking to goals, proper time management, and taking risks are the ones that I think I already possess.
I believe the most important quality there would be self discipline, 'cause I know the success of the business relies there.
 

AmazingP

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Well I have a small business now which I'm trying hard to last for a long period of time.
And such attitude like self discipline, sticking to goals, proper time management, and taking risks are the ones that I think I already possess.
I believe the most important quality there would be self discipline, 'cause I know the success of the business relies there.
That's right. To have a successful business a person must learn to develop within himself or herself the traits that you mention here. Self-discipline is very important as the direction of the business and its viability would be severely affected if the owner has no discipline and control.

Congratulations to your business. I am sure you can be an inspiration for other people who are also planning to take control of their ultimate financial destiny.
 

speedy

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I always think about myself that I don't have the skills or ability of being an entrepreneur that's why I don't want to involve in any businesses and my mother think the same way as well. It was only lately that she realized that she has the skills as she owned a small business ( sari-sari store ) in our house and she was pretty amazed because she had a lot of costumers and her store is growing. What she experienced gave me a lesson that we will at least start and study on how it goes and applying those concept that mentioned above. Risk Taking is what I am always afraid of and makes me don't want to start anything. But little by little I learned how it works since my husband is involve in a small business as well and whether I like it or not I will mingle with people dealing and selling the products. Thank you for sharing this informative tips once again. God bless.
 

KingManta

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I completely agree with this list.
Kind of associated with the whole 'dreams and motivation' point, I think to be an entrepreneur you must have that mindset.
It seems most people think all you do is go to school, get an education, then go work for someone with a salary job.
It's like this whole job notion is etched into their brain, and they can't imagine starting your own business.
 

canadien

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I think a self-employed entrepreneur definitely needs to have patience. As with any company, success takes time, and comes only after hundreds hours of hard work have been put into it. If a person wants to be successful, they really need to understand that it will take time for their business to grow and become a success; it simply won't occur overnight. If you have patience, then hopefully you will be able to wait and let your business grow slowly but steadily.
 

Cecil Estrera

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That's right. To have a successful business a person must learn to develop within himself or herself the traits that you mention here. Self-discipline is very important as the direction of the business and its viability would be severely affected if the owner has no discipline and control.

Congratulations to your business. I am sure you can be an inspiration for other people who are also planning to take control of their ultimate financial destiny.
I'm just starting out with it and I can it's doing great now.
Thanks for the encouragement, it helps a lot. :)
 

zararina

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Yes any business would start from a dream or a goal of having a business and be successful to it. I believe that all businessmen are risk takers even their businesses would surely hit the market, there are still risk on it such as the people that will be involved in the business whom to be entrusted and could make or break a business.
 

KingManta

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I'm just starting out with it and I can it's doing great now.
Thanks for the encouragement, it helps a lot. :)
I'm not sure what type of business you have, but I'd suggest using the internet as a tool.
There are a lot of free marketing techniques available, like forums, that can help you sell more product.
 

Cecil Estrera

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I'm not sure what type of business you have, but I'd suggest using the internet as a tool.
There are a lot of free marketing techniques available, like forums, that can help you sell more product.
Oh yes, I've made a blog months ago for my online business.
So far, I've had 299 blog visitors since last may.
By the way, I sell electronic reloads for mobile phones.
 

rose banks

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Well this is a very interesting topic. I really need to know techniques on how to be successful in business. I am starting my own business now now and need ideas on how to run it.
 

Gerlie Reyes

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Not all people have the qualities and traits needed to succeed as an entrepreneur. Though we also have to understand that nobody is born an entrepreneur – everything can be learned as long as there is enough motivation and that will to make dreams come true. So what are the qualities a person has to adopt first on the way to becoming another income-producing entrepreneur? Here are at least 5…

1. Dreams and motivation: Without a dream a person could wither and perish. It is then very vital that a person has self-motivation all the time -- much more for entrepreneurs who are willing to take some risks being a pioneer in a business or project. There is no point of letting yourself down. Always go forward in the face of challenges and setbacks.

2. Stick-to-it attitude: To persevere is to succeed. As there would always be problems and disappointments left and right, holding on to your dreams would be the right thing to do. Believing in yourself and what you are offering to the marketplace is very critical.

3. Relational skills: Business is not really all about money and products -- it is also about how we deal with people – from our employees, clients, suppliers, customers and others. We must be good in relating and communicating to people to align them to our vision. Communicating effectively at all levels is a must. Learn it and you got it for life.

4. Risk taking: Learn to make calculated risk as this is a major ingredient for success. An entrepreneur knows when to trust their hunch. Just remember that foolishness is different from a calculated risk. Do your due diligence and feasibility of a project before starting it.

5. Good time management: Learn the important skills on how to mange time so that you can be productive without necessarily sacrificing some aspects of your life. With the right skills in organizing things at the right time, all the tasks are done efficiently. Never give in to the monster called procrastination especially if you are working only by yourself. The best thing to do is to have a checklist of things to accomplish with a specific timeframe.

Do you have what it takes to be an entrepreneur?
The most important quality for an entrepreneur is a desire to be of service.
 
A

artistry

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Good points. I think that two important things, I feel one needs would be motivation and tenacity, also courage.
 

Rea

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Awesome list! I also believe that entrepreneurs need to possess a wide imagination. I think being imaginative is directly related to the business person's ability to take risks. I am actually reminded of Albert Einstein's quote that goes something like insanity is when you do the same thing over and over and expecting a different result. This holds true especially to entrepreneurs who aim to grow their business and are searching for ways to do so. :D