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Top 5 Characteristics and Qualities of Entrepreneurship

Are you born an Entrepreneur or do you become one? That question is a lovely way to stir some quality debate at your next dinner party. The truth is entrepreneurs are both born and made. Guaranteed, if you watch Sam Altman’s How to Start a Start-Up Stanford classes you’re going to become a better entrepreneur. However, if you’ve got these 5 characteristics and qualities you’re already well on your way…

Top 5 Entrepreneurship Characteristics:

  1. Lifelong Learner – Successful entrepreneurs are lifelong students. Constantly seeking to improve themselves and others. They seek to understand all aspects of their business and competition.
  2. Risk Takers – Starting your business is a huge risk. Good entrepreneurs don’t mind that because they are calculated risk takers. They do their due diligence and decide if the risk is worth it. For instance, when evaluating Business Loan programs, they review the terms thoroughly before they apply for it and start the business. They also consult their corporate lawyer before making major business decisions to ensure that no corporate regulations will be violated. Similarly, an employer defense attorney can help you in the event that you run into legal trouble regarding your employees and your company. It’s good to be prepared, so having these kind of contacts before you actually need them can really help.
  3. Goal Setter – They finish what they started. Entrepreneurs know that if it’s worth doing, it’s worth doing right. Once that goal is achieved, guess what? On to the next goal. One of the first goals of an entrepreneur is coming up with the name of the business and designing a logo using a logo design software like the one from Entrepreneurs have the longest checklists you’ll ever see. They utilize different tools and services to assess if they are reaching their goals. Some of them are outsourcing corporate financial management services to do their accounting and determine whether their current financial standing is in line with the goals they set for the business. And if they need help achieving the goals they set for their business, they seek the services of a business consultant. Long-time entrepreneurs also know the importance of business continuity management in achieving business goals even if there’s a disruption in your operations.
  4. Marketing Master – Nobody knows your product better than you. The best entrepreneurs are masters at conveying why their product is a must-have. Different marketing strategies are available to reach more customers. For example, you can use the TradeBeyond app to reach out to different retailers and buyers and introduce your products to them. A good entrepreneur may even partner up with a Floor graphics manufacturer to order vinyl flooring materials with advertising graphics for his business.

    “If you can’t explain it simply, you don’t understand it well enough.” – Albert Einstein

  5. Competition Dominator –  At the casino, the house always wins, because they have an edge. Entrepreneurs understand that mentality and give themselves every opportunity. Successful entrepreneurs play chess. They’re 5 moves ahead of you. They don’t mind losing small battles to win big ones.

So, are you a Lifelong Learning, Risk Taking, Goal Achieving, Guerilla Marketing, Competitor?  Then you were probably born an entrepreneur. However, you can always become a better one — you lifelong student, you!

Did I miss a characteristic or do you think I nailed it? Let me know in the comments!


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