20 Key Characteristics Of An Entrepreneur
Despite there being over a gazillion characteristics of an entrepreneur, I did a bit of my own research as well as brainstorming to come up with a list of some of the most important characteristics of an entrepreneur which I feel are necessary and which I’m confident will help anyone who is interested in becoming either an internet entrepreneur or just a good old fashioned entrepreneur.
Characteristics Of An Entrepreneur #1: Takes Risk But Knows When To Be Risk Averse
One of the most fundamental characteristics of an entrepreneur is that he/she knows when to take risks and when to hold back. This is because they understand that as much as taking a risk is important, it at times can have severe consequences especially when one’s gut tells them otherwise.
“Be wise enough not to be reckless but brave enough to take great risks”-Frank Warren
Characteristics Of An Entrepreneur #2: Has Guts & Speaks Their Mind
One of the most common characteristics of an entrepreneur is that they tell it like it is without any fear or favor. If the see something going wrong, they don’t give it a blind eye or sugarcoat it but rather they confront the issue or give their opinion as to how that particular issue should be solved.
“Gold medals aren’t really made of gold. They’re made of sweat, determination, and a hard-to-find alloy called guts”-Dan Gable
Characteristics Of An Entrepreneur #3: Knows When To Hold Back
In addition to speaking their mind, successful entrepreneurs also appreciate and recognize that there are times when being silent might be more beneficial than speaking up.
“I’m cautious about a lot of words”-James Hillman
Characteristics Of An Entrepreneur #4: Positively Impacts On Other Peoples Lives
One of the most unique characteristics of an entrepreneur is that they realize that business is about impacting a positive change in the lives of others. They understand that business is not only about amassing wealth but also helping people to improve the quality of their lives.
“Be the person who touches the lives and hearts of people. Be a positive light to others as you put a smile on their faces. For in the end…it’s not what you say that matters, it’s how you make them feel that lovingly stays in their memory”-Anon
Characteristics Of An Entrepreneur #5: Is Willing To Do What Others Aren’t
One of the most intriguing characteristics of an entrepreneur is that they are always willing to do what others aren’t so as to achieve their set goals. They realize that success is not a destination but a journey and so they are willing to go the extra mile.
“Entrepreneurship is living a few years of your life like most people won’t so that you can spend the rest of your life like most people can’t”-Anon
Characteristics Of An Entrepreneur #6: Performs Some Specific Tasks On A Daily Basis
Successful entrepreneurs know that success is highly dependent upon ones habits and because habits first begin as thoughts, they train their minds to do specific tasks on a daily basis such that they become habitual.
“We are what we repeatedly do. Excellence, then, is not an act, but a habit”-Aristotle
Characteristics Of An Entrepreneur #7: Loves What They Do
If you take a close look at the most successful entrepreneurs, you’ll realize that they love what they do and that’s why they are good at it. Doing what you love results in your mind developing a positive mindset which aides in making that activity easier to perform.
“Every single person I know who is successful at what they do is successful because they love doing it”-Joe Penna
Characteristics Of An Entrepreneur #8: Loves To Solve Problems
In addition to loving what they do, one of the other interesting characteristics of an entrepreneur is that they love it when an opportunity to solve a problem presents itself because they understand that challenges are just stepping stones to success.
“After every storm the sun will smile; for every problem there is a solution, and the soul’s indefeasible duty is to be of good cheer”-William R. Alger
Characteristics Of An Entrepreneur #9: Works Hard At Working Smart
Every successful entrepreneur realizes that working smart helps one to achieve more than by working hard. They therefore put more effort into working smart than at working hard e.g. if you are blogger, you can use software like Tweet Adder or even hire freelance writers to make your work easier so that you can focus on other more important things.
“Before you can work smart you must work hard”-Anon
Characteristics Of An Entrepreneur #10: Is Always On The Lookout For Innovative Ideas
Innovation is one of the most vital characteristics of an entrepreneur and this is because they realize that times have changed and as such, the tricks that worked yesterday might not work today. They are therefore always on the lookout for effective strategies that will be more effective today rather than putting their hope in yesterday’s techniques.
“Never before in history has innovation offered promise of so much to so many in so short a time”-Bill Gates
Characteristics Of An Entrepreneur #11: Is Goal Oriented
Every successful entrepreneur always has a particular set of goals that they wish to achieve and this is because they realize that having goals gives one something to work towards.
“Goals are the fuel in the furnace of achievement”-Brian Tracy
Characteristics Of An Entrepreneur #12: Puts In 101% Into Everything They Do
One of the most important characteristics of an entrepreneur and that is not very common as far as others are concerned is that they put in all the effort they can into everything they lay their hands on. They do this because they realize that gratification in what you do is the most important thing and it can only be achieved by doing your best.
“Continuous effort not strength or intelligence is the key to unlocking our potential”-Winston Churchill
Characteristics Of An Entrepreneur #13: Treats Time As Their Most Important Asset
Successful entrepreneurs realize that time is the most important resource they have. They know that once it’s gone it can never be recovered and so they spend their time engaging in activities which really matter.
“Time = life; therefore, waste your time and waste of your life, or master your time and master your life”-Alan Lakein
Characteristics Of An Entrepreneur #14: Is Patience And Persistent
Being patient and persistent is one of those characteristics of an entrepreneur which really tests how strong and resilient an individual is. Not very many people would keep up with something that doesn’t seem to be bearing fruits.
“Patience, persistence and perspiration make an unbeatable combination for success”-Napoleon Hill
Characteristics Of An Entrepreneur #15: Invests In Self-Education
Successful entrepreneurs know that self-education is the key to living a life of financial independence and this is because it gives one the ability to LWYN i.e. Learn What You Need. They know that they need to invest in self-educating themselves as this helps them learn specific things which can help them move a step closer to their goals.
“Formal education will make you a living, self-education will make you a fortune”-Jim Rohn
Characteristics Of An Entrepreneur #16: Is Aware That Some Battles Are Not Worth Fighting
Realizing that there’s a thin line between wisdom and foolishness (sorry couldn’t find a less severe word) is one of the characteristics of an entrepreneur that can really come in handy sometimes e.g. knowing when to fight and when to let go.
“Don’t fight a battle if you don’t gain anything by winning”-Erwin Rommel
Characteristics Of An Entrepreneur #17: Spends Less Than They Earn
This is one of the most important characteristics of an entrepreneur and this is because spending less than what one earns gives one the opportunity to have excess money which they can invest so as to come up with a money making machine.
“The formula to financial independence is spending less than you earn”-Anthony Robbins
Characteristics Of An Entrepreneur #18: Is More Of A Giver Than A Taker
Successful entrepreneurs realize that true success is all about giving rather than receiving and not necessarily in monetary terms but in other ways as well e.g. sparing time to talk with someone, complimenting others etc.
“Kindness in words creates confidence. Kindness in thinking creates profoundness. Kindness in giving creates love”-Lao Tzu
Characteristics Of An Entrepreneur #19: Values Being Part Of A Team
If you take a closer look at most of the successful companies we have around e.g. Google,Yahoo, Apple, Facebook, Dropbox, Hostgator, Two Men And A Truck and the like, you’ll realize that the founders all worked as part of a team and this is because they realize that the efforts of a team are greater and more efficient than individual effort i.e. People are able to achieve more when they are part of a team than when they go solo i.e. TEAM-Together Everyone Achieves More
“Coming together is a beginning. Keeping together is progress. Working together is success”-Henry Ford
Characteristics Of An Entrepreneur #20: Values And Spends Time With Their Family
The MOST IMPORTANT characteristics of an entrepreneur is that they spend time with their family irrespective of whether their plate is full or not. They know the value of having and spending time with family and that it’s the most important of all the other values. They appreciate the fact that family will always be there for them and they reciprocate this.
“Family is the most important thing in the world”-Princess Diana
How To Apply The Above Key Characteristics Of An Entrepreneur
The above characteristics of an entrepreneur/qualities of an entrepreneur can be adopted by anyone who wants to take their business to the next level though care should be taken to go one step at a time as choosing to go Commando on all of them might result in you becoming confused and frustrated.
You can choose to apply maybe 3 at a time then scale it up from there but Hey, that’s just my opinion.
“Entrepreneurs are simply those who understand that there is little difference between obstacle and opportunity and are able to turn both to their advantage”-Niccolo Machiavelli
As always, feel free to let us know what you think of the above “Key Characteristics Of An Entrepreneur“; I’d definitely love to hear from you!