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

Business Advice for Teens, Students and Fresh Graduates

Take a minute and review these three steps that can help you achieve success.
Step 1: Know What Is Limiting You
Do you like mysteries? Here’s one that can change your life. Let’s investigate.
What beliefs are at the core of who you are? Pay attention for one week to self-limiting beliefs that show up. As a detective, be consciously aware. Keep a journal handy to jot down notes.
Beliefs can present themselves as a label you place upon yourself partnered with an assumption. For example, “As a single parent, there is only so much I can do.” They can reveal themselves in a negative statement such as “I can’t be …” or “I can’t do…” or “I’m not good enough; I’m not smart enough…” Beliefs may be uncovered in an assumption such as “There’s not enough time” or “That’s too hard” or “He’ll say ‘no’.”
Write down the beliefs that are restraining you from what you want.
Step 2: Get to the Source of the Diversion
A good detective digs deeper. Whose voice is attached to the belief? How did this belief become attached to your life? Is it legitimate? Is it serving you? Or limiting you? Jot your notes. I have to warn you. We hesitate to go within because we subconsciously know what may be lurking at the source. That four-letter word… fear!
Write down the fears that are holding you back.
Step 3: Rewrite Your Limiting Beliefs and Fears with an Unlimited Confident Attitude
Turn “I can’t” into “I am.” Change “that’s too hard” into “I know I can do this part.” Replace “I don’t have enough time” into “I know what’s important and I do that first.” Swap “As a single parent, there’s only so much I can do” with “As a single parent, the world is my resource. It’s abundant and lacks
nothing.” Let me know if you need help with this. Reread your new attitudes daily until they become part of who you are. This is a simple task that makes an impact.
Rewrite those beliefs.
Justice Mandhla is the author of business prep guide: you’ve got to read this book before you buy any business start up bookand he spends a great deal of his fulltime writing days researching and writing about business preparatory strategies.
See more at www.businesslearning4life.com