What Are the Characteristics of a Successful Entrepreneur?

What Are the Characteristics of a Successful Entrepreneur?

article by Marco Angioni II, published on Aug 22, 2007

I could sit here and start rattling off random, "good sounding" characteristics (such as ambition, boldness, drive, motivation, etc.), but that does not really help you or me. Instead, I will tell you what I believe makes a "successful entrepreneur."

First, a successful entrepreneur can do the impossible. He/she can make something out of nothing. Many people who start with nothing end with
nothing. An entrepreneur does not follow this norm. No matter the disadvantages or set backs, a successful entrepreneur can change his/her situation to anything he/she wants it to be. A successful entrepreneur can change his/her stars.

Second, a successful entrepreneur knows how to seize opportunity. This one sounds easy, but in reality, many people let some of the best opportunities slide by unnoticed. Contrary to popular belief, "opportunity" does not magically appear at your doorstep (we should all be so lucky) and wait for your response. Opportunity is something that a person has to go out and
find. You have to seek it out like a jungle treasure hunt and conquer the traps set along the way. A successful entrepreneur knows this and does this daily.

Third, a successful entrepreneur has to network. True, there are many
"anonymous millionaires," and although anonymous to you and me, they
are not anonymous to the people that played a part in creating that
millionaire’s wealth. You do not have to be world
famous or have your own reality television show, but you do have to
know a couple people in the particular "money making circle" of your
interest if you want to achieve large amounts of wealth. Therefore, for
example, if you want to develop real estate, it would be nice to know
some contractors, other developers, some finance people, and even
people at the various utilities companies.

Fourth, a successful
entrepreneur knows when to walk away. There is going to be a time when
you have to cut your losses. A successful entrepreneur knows when that
time occurs. Remember, these are not the high seas. You do not have to
go down with the ship! You may think that this characteristic
contradicts the first characteristic I mentioned. However, the first
characteristic relates to an entrepreneurs personal life and this point
relates to business.

Last, once an entrepreneur has achieved
large amounts of wealth, he/she gives back to those who have need it. A
successful entrepreneur uses his/her wealth to help change the world
for the better.

These are the characteristics of a successful entrepreneur.

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