Entrepreneurial Characteristics

The other day I was asked by a group of my students to identify 5 main characteristics and 5 key success factors of entrepreneurs.

Here’s my response to them;

1. An entrepreneur has a desire for social responsibility.

2. An entrepreneur takes risks.

3. An entrepreneur has confidence in the ability to succeed.

4. An entrepreneur has a high degree of commitment

5. An entrepreneur has the willpower to overcome obstacles.

I offered the following as key success factors for entrepreneurs;

1. Entrepreneurs with a strong consumer support always succeed.

2. Entrepreneurs with a strong cash flow always succeed.

3. Entrepreneurs with great products always succeed.

4. Entrepreneurs with skilled and dedicated employees always succeed.

5. Entrepreneurs with outstanding systems and effective administration always succeed.

As a bonus for asking such a brilliant question I offered  the following improvement tips for their businesses;

If things seem not to be working well in your business, change or add new product lines, and change your marketing strategy.

The full version of my tips can be accessed from my new book; Building Blocks Guide to Successful Business Marathon obtainable at: www.longlife4learning.com

Tags: business, business book, employees, entrepreneur, longlife4learning, manual, sales, start small business