[Guest Post] 5 Common Traits of Effective Entrepreneurs

By: // On 23 September 2011 // in Guest Posts, Lifestyle, Social Media, Tech

We’ve all looked at people like Bill Gates and Mark Zuckerberg and wondered what they have that we don’t, what personality traits have allowed them to become successful entrepreneurs where others failed.  In these cases, it may be specific technical knowledge.  But there are plenty of success stories out there that aren’t linked to computer technologies, meaning that the average person with a great idea and enough funding could become the next great entrepreneur. 

If you’re wondering if that person might be you, here are just a few traits that you must have in order to be an efficient and ultimately, successful entrepreneur:

  1. Inspiration
    Nobody ever got far in a business that they had only tepid feelings about.  Starting a company is a lot of hard work.  You have to struggle through the planning phase to create a business plan that will interest investors, and once you’ve got the money-men on board, the real work begins.  So if you’re not 100% committed to your venture, not to mention passionate about what you’re doing, chances are good that you’re going to burn out sooner rather than later.  Inspiration is a key ingredient needed for any major undertaking in life.
  2. Education
    Not all successful entrepreneurs have a college degree, and that’s a proven fact.  But it’s important to remember that not all education occurs in the classroom.  The truth is that anyone who becomes successful in a given profession is likely an expert at whatever they’re doing.  This could mean years of experience in a field before you strike out on your own and start a business.  One way or another, you need to know the ins and outs of the industry you’ll be working in before you can engineer a successful undertaking.
  3. Motivation
    Inspiration and motivation are similar, but not the same.  Your passion for a project will provide the inspiration needed to get you started, but you need to have some inner drive to succeed if you want to see the enterprise through to completion.  Every person has different motivations, but if yours aren’t strong enough to keep you churning away even when faced with hurdles or outright failures, then you really won’t be efficient as an entrepreneur.
  4. Organization
    You don’t have to be some kind of neat-freak, pasting property labels on anything and everything in your office in order to stay organized.  But you definitely need some kind of system to keep you moving in the right direction (that would be forward).  If your space is in chaos and you can’t keep track of a schedule, you have no business being in business.
  5. Luck
    Not every element can be controlled.  There is some about of chance involved in successfully launching a business, from meeting the right people at the right time to creating a product or service that the consumer public wants but nobody else is yet offering (the element of striking while the iron is hot, so to speak).  Although a solid business plan and a charismatic personality can definitely open doors, there is still some measure of luck involved in knocking on the right doors, you just have to keep knocking nevertheless.

About the author:
Among many websites, freelancing author Carol Montrose writes for SEAREACH, the manufacturer of labels, tags & security documents in UK.

Chief editor @Wajeez, writer, blogger and online marketeer. He is working in Emirates, and lives in Dubai. Did you notice all those quotes laying around many posts here? He finds great joy in digging out the right quote for the right topic.

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