Traits of a Successful Entrepreneur
Traits of a Successful Entrepreneur
There used to be a time in India when employment with the Government or Bank was perceived to be the best career path. The age of internet and the opening up of Indian economy to international companies and cultures has changed this attitude over time. Entrepreneurship is now acceptable and most family members are open to the idea of risk taking – a diversion from the typical “settle into job” expectation. This has lead to India building a strong startup eco-system with plenty of successful Entrepreneurs and startups. In this article, we look at some of the traits that are common amongst the successful Entrepreneurs:
Successful Entrepreneur Trait #1: Hard Work
Hard work is the #1 trait that all successful entrepreneurs and first generation billionaires have in common. Most first generation billionaires are the result of working with a vision in a focused manner over extended periods of time. Entrepreneurs who routinely put in more hours into their startup have more chances of succeeding in their venture compared to their counterparts. Therefore, successful entrepreneurs are usually hard working persons with enormous energy and drive to achieve their vision.
Successful Entrepreneur Trait #2: Positivism
Successful entrepreneur exude positivism and are not turned down by failure and uncertainty. Successful entrepreneurs believe in themselves, have a positive outlook and push through obstacles. Success never comes easy and it is the ability of successful entrepreneurs to stay positive and push on in the face of adversity that ultimately determines their success.
Successful Entrepreneur Trait #3: Vision
Successful entrepreneurs have a strong vision, and are able to spot opportunities and envision what others are not able to perceive. The ability of successful entrepreneurs to judge the future and work ahead gives them an unfair edge in the marketplace. Successful entrepreneurs also exhibit the ability to lucidly communicate their vision to investors, staff and customers to build a successful business.
Successful Entrepreneur Trait #4: Adaptability
Successful entrepreneurs have the ability to quickly adopt their vision and approach – based on the environment. The ability to quickly adapt and stay flexible are essential for the survival of any business in today’s highly volatile markets. Therefore, in the long-term, a business headed by an Entrepreneur with flexibility and adaptability will succeed.
Successful Entrepreneur Trait #5: Competitive
Successful entrepreneurs and highly competitive individuals who enjoy competing and winning. Businesses are now required to constantly compete and grow its market share or face decline. Therefore, the highly competitive nature of a successful entrepreneur will ensure the business continually innovates, adapts and competes to win.
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