Characteristics Of Entrepreneurs

Do you have the characteristics of entrepreneurs? Read this article and find out.

I have personally known many entrepreneurs. Likewise, I have also known many people who are not entrepreneurs and could never qualify as one. What are the differences between a successful entrepreneur and a working stiff? Let's find out.

Characteristics of Entrepreneurs

1. Entrepreneurs Own Their Own Business

Entrepreneurs own their own business. Entrepreneurs choose to work for themselves, rather than for someone else as an employee. Sometimes it is as a matter of necessity.

I know successful entrepreneurs who became businessmen because they knew that they would have a hard time getting employed by others. They barely passed high school. Getting a high paying job working for someone else was out of the question.

They only worked for someone else long enough to learn a skill that they could use in their own business.

2. Entrepreneurs Are "Can Do" People

Every entrepreneur I have met has a "can do" attitude. When a problem arises they find a solution. They don't wait for direction from others. That doesn't mean they don't consult other professionals when needed. They gather the facts and then act upon them. They are people who are confident in their abilities.

3. Entrepreneurs Accept Calculated Risks

Entrepreneurs are not afraid of taking a calculated risk. They are willing to sign their name to a million dollar loan. They just make sure they plan and are able to earn enough money from their business enterprise to pay the loan back. They have a backup plan when things go wrong.

4. Entrepreneurs Are Driven By Profit Motives

Entrepreneurs are driven by profit motives. The challenge of earning a profit from their hard work is a motivating factor that drives them to success. They are not willing for someone else to tell them what they are worth. They want to determine what they will earn.

5. Entrepreneurs Work Long Hours

All the successful entrepreneurs I know work long hours. They are not nine to fivers. They get up early, and often work late into the night making telephone calls and preparing for the next day's work. They do what it takes to make their business successful.

6. Entrepreneurs Are Innovative

Entrepreneurs are innovative. They are able to come up with new ideas to solve problems. Then they perfect their ideas and apply them to their problems. Often new inventions and businesses are born from a need to solve some problem. They look for a better way to do something, at less cost, and in less time.

7. Entrepreneurs Listen To Their Customers

Successful entrepreneurs listen to their customers. They try to accommodate their customer as long as the customer's request is reasonable and ethical. The "customer is always right" guides their relationship with their customer.

8. Entrepreneurs Know The Value Of A Dollar

Entrepreneurs know the value of a dollar. If they can save money by changing vendors, they do. They control costs as best as they can. Old Benjamin Franklin is right when he said "A dollar saved is a dollar earned". They expect value for every dollar they spend. They expect a return on every investment.

9. Entrepreneurs Plan For Success

Entrepreneurs plan for success. Success does not come by chance. They create a business plan and then stick to that plan. They know what they want to accomplish, and then work toward that goal. When things don't go as planned, they follow their backup plan.

10. Entrepreneurs Do What They Love

Entrepreneurs do what they love. They enjoy the field of work they have chosen. They always try to make it better. All the money in the world isn't worth doing something they hate. Why not enjoy what you do?

Many of these characteristics of entrepreneurs can be learned. Your don't have to have the business wisdom of Bill Gates. But you do need to have enough personal motivation and drive to pursue your dreams.

These are but a few characteristics of entrepreneurs. Do you have what it takes to be an entrepreneur? I hope so, it beats working for others. Control your destiny, become an entrepreneur.

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