14 Distinguishable traits of the successful entrepreneur

There are 14 distinguishable traits that a lot of successful entrepreneurs share. These are the in built characteristics that make them indefatigable and undaunted even in the face of economic challenges and troubles which at face level seem to be insurmountable. These are traits that empower the entrepreneur and give him the inner strength to keep going even when the going is tough.

• Self-confident and optimistic: Most successful entrepreneurs have a lot of confidence in their skills and abilities and are incredible optimists about the probable success of the venture that they have embarked upon. This self confidence is often a factor that sustains the entrepreneur in difficult times. Sometimes the confidence is based on knowledge. Like the saying goes, knowledge is power., but there are other times that the confidence they have comes from a gut feeling that they themselves are cannot explain. This will work, they tell people who have opted to work with them, even though at times they are unable to explain why.                       
  
• Able to take calculated risk: Entrepreneurship is founded on risk. The dictum is common among entrepreneurs and self-styled businessmen: The bigger the risk, the greater the reward! But sound planning and scenario analysis should enable the entrepreneur to take calculated risks! What this means is that each risk is measured and the worse case scenario is analyzed. This would prevent the entrepreneur from taking risks that could lead to his ruin. But there are a few renown entrepreneurs who act like gamblers and are willing to put the whole business on deal with incredible rewards if it succeeds and disaster if it fails.           
  
• Respond positively to changes: Entrepreneurs are supposed to be change compliant. Instead of reacting to change negatively they are supposed to respond positively using the changes in the business environment to their benefit, rather than allow them work to their detriment. The die hard radical business man sees opportunities in every situation and plots on how to seize such opportunities. 
• Flexible and able to adapt: Flexibility and adaptability are closely linked to change management. We live in changing times that require that entrepreneurs be flexible in their approach to business activity. This does not mean that they should not have principles or guidelines. What it really means is that in meeting customers demands and the challenges of day to day activity, an entrepreneur ought to be able to adjust and be flexible to meet the demands of the environment that he finds himself in.
• Knowledgeable of markets: Just how well do you know the market in which you operate? It is important to understand how the market works, knowing who spends the most money, who controls trends and developments and where we(can) fit in as a business. Every market has its peculiarities and to function in such environments it is important for the entrepreneur to understand the market and all the major activity that goes on inside there.                             
•  Able to get along well with others : An entrepreneur should be a likable person. Customers in today's markets have choices of whom they should do business with. Customers are very unlikely to do business with people they do not like, if they have a choice. The ability of an entrepreneur to have good business relations with his customers would enhance the success of his business. 
• Independent minded: A lot of entrepreneurs got inspiration for their businesses from the most unlikely places. Some have moved against trends and have been able to influence trends and create movements with radical thinking and action in several sectors. We have found that a new trend of thought which is followed by a radical action often helps to shake up sectors in different countries and often makes people end up doing things differently within the confines of the law.
• Energetic and diligent: Entrepreneurship is an energy draining activity. Anyone who wants to be on top of business can not afford to mind his own business alone. He has to keep his eyes and ears open for hints of changes and transformation. He has to keep tabs on prices which can change unexpectedly in some markets all this combined with keep watch over his own business can be quite demanding and energy sapping.
• Creative, need to achieve: Entrepreneurs are creative people. The will to succeed in business often leads to improvisation. When they can't have what they want, they make do with what is available. It is the will to be successful and meet their marks that is the driving force behind such success. Having a feel of the needs and aspirations of some consumers have enabled some entrepreneurs create new concepts which are customer friendly.
• Dynamic Leader: Entrepreneurs are known to be dynamic in their leadership. Looking at what it takes to make major companies successful, the move with trends and demands and capture the very essence of business. Organizations often look to their leaders for inspiration and guidance when they meet with a speed bump on the track to success. Dynamic leaders move the organization out of inertia, charting the way forward when there appear to be great challenges. 
• Responsive to suggestions: Great ideas are not the exclusivity of the leadership in an organization. Ideas that transform can come from the oddest of places. That is why entrepreneurs should be responsive to suggestions. Anything that can move the business to the place the owners want it to be is welcome. On top of that, good entrepreneurs are not afraid to give credit to those who bring such nuggets to the table.
• Take initiatives: Every business needs initiative. Ideas are the very basis for the business existence. An entrepreneur does not have to wait to be prompted before he assesses situations and suggest what can be done to over come challenges. Every thriving business needs initiative and such prompting should come from the people who run the business when its possible.
• Resourceful and persevering: Being resourceful in face of either limited or immense resources is an important consideration. When resources abound, the entrepreneur is expected to know how best to use them; when they are limited perseverance is the guiding principle. The resources of a company are not to be trifled with. The resourceful entrepreneur understands this.
• Perceptive with foresight; Perception is a gift. Everyone sees. But not everyone sees right! The entrepreneur ought to be able to see clearly and right in the midst of the storm at the same time! Part of his job is to recognize the various seasons a business might be going through and be able to take measures to help the business survive such situations. When danger is up ahead, he has the job of preparing the organization for eventualities. That is foresight. Again, in the event of a boom, he ought to be prepared to ensure that his company grasps all the opportunities in view.
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