Entrepreneurs have in common some characteristics and skills, but anywhere there is a wide range of individuality among them. Some entrepreneurs receive formal training and skill development, while others have a natural flair for it, still others break every rule or use very unusual approaches, but still succeed. There is no recipe for becoming a successful entrepreneur, but there are certain characteristics that are associated with entrepreneurial success, here are described several important ones:
- Aptitude: Most people have a wide range of aptitudes-natural talents, tendencies, or capacities. Entrepreneurs can apply their aptitudes to their business ventures. Every potential entrepreneur has to analyze his aptitudes and talents, which are an important part of his starting background. Then, with practice, hard work, and education, those basic aptitudes and talents can turn the potential entrepreneur into a real business man.
- Risk tolerance: Risk can be defined as the possibility of failure or adverse consequences in pursuing some activity or business venture. In fact, risk, as an attribute, affects entrepreneurial behavior, and represent an important part of the life of the entrepreneur. Risk tolerance is the degree to which you can comfortably accept taking chances, and entrepreneurs need to have a high tolerance of risks. This does not mean that they are gamblers, but they take calculated risks, while most people try to avoid risk, entrepreneurs understand that risk is a natural part of trying to achieve goals. For them, the opportunity of success is higher the possibility of failure. In addition, an entrepreneur can always learn from his risks or failure, because he can understand what is wrong in his business and correct the errors to create a better future venture. Moreover, even if they do fail, entrepreneurs are likely to try again, even if they fail, they know they will succeed the next time.
- Self-confidence: A key characteristic of an entrepreneur is that he believe in his own abilities. Because entrepreneurs are sure of themselves, it is easier for others to believe in them and to invest in their success, in fact, their confidence can help them work through setbacks and sell ideas to potential customers and investors. An entrepreneur is also confident because he know when to ask for help without feeling embarrassed. In fact, every entrepreneur encounters problems, and he has to believe that he can overcome them, also with a little help by other managers or advisers.
- Creativity: This characteristic means that the entrepreneur find innovative ways to problem solve, he always looks for new and better ways to do things, ways that no one has already proposed. An entrepreneur has to believe in his ability to be creative, because only in this way he can open his mind to innovation and to potential success of his business ideas. The creativity appears as an invention, an innovation, or as marketing or problem solving, in fact, the successful entrepreneur is a person full of ideas, usually, he has more ideas that can ever implement. Entrepreneurs see opportunities everywhere, just walking down the street; they see gaps between needs and wants of the customers.
- Perseverance: Creating and running a business is a very hard thing. It often means long hours working, disappointments, and setbacks and many people fail because they give up at the first sign of difficulty. Perseverance is the determination that pushes the entrepreneur to keep going, keep trying in investing time, money and effort in his business ideas. Often, a new business can take two or more years to become profitable and a successful entrepreneur is prepared to continue selling his ideas through the tough times and keep on working hard without giving up if he encounter an initial fail or difficulty. In fact, every successful story includes elements of endurance and determination.
- Integrity: Integrity is a personal commitment of the entrepreneur to keep his promises, to do what he say he would do and when would do it. An entrepreneur with integrity creates more confidence in customers and potential investors, so they are more inclines to be satisfied, in fact, honest producers of goods and services tend to foster the loyalty of both their customers and their investors. For example, when someone follows through on promises and follow integrity principles, customers start knowing and buying his products, and may even tell friends about the business and about the entrepreneur. In addition, personal integrity can help entrepreneurs maintain their commitment to their business vision.
- Passion: One of the most important qualities associated with successful entrepreneurship is passion. Entrepreneurs love what they do, and they do what they love. Often, their ideas arise from within, from something they love, like a hobby, or invention. Maybe is the most important characteristic of an entrepreneur, in fact when people feel committed to what they are doing and when they care deeply about it, they stand the best chance of being successful at it. Entrepreneurs are passionate about their ideas, their company, and their vision. Talk to any entrepreneur for five minutes about her company and you will hear excitement in his voice, and this passion helps entrepreneurs overcome the various challenges that they will surely face. Entrepreneurs typically care more about what they are doing than how much money they might make; they earn an income, of course, but the amount they earn often is secondary because the most important thing is to achieve their goals.