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

What qualities do you look for in a good employee?

You’ll want to find energetic people who have the physical and mental endurance to complete tasks in a timely manner and contribute to each assignment with enthusiasm.
You’ll want hire people who will take initiative. You don’t want to have to babysit employees who have no sense of what needs to be done or how to do it, or who just wait around to be told what to do. People with initiative find out what needs to be done and find a way to get it done.
You’ll want to hire people with a cooperative attitude. The last thing you want to do is struggle with someone who refuses to do things the way you need it done in conjunction with the rest of the team. While there is nothing wrong with creativity and thinking outside the box, lack of cooperation by even one employee can create serious problems in productivity. Cooperation is not only productive, but is infectious and quickly spreads to other employees and eventually even affects customers in a positive way.
Hire people who can be trusted to be dependable or you and your other employees will constantly be compensating for the lack of dependability.
Hire people who take ownership of their employment. These employees have a sincere desire to benefit their company beyond what their job description might demand. These are the employees who take pride in their work and in the business. Employees who desire to grow with the company are more easily retainable than employees who are just there to put in their hours and get their paycheck.
Hire people who are pleasant to be around. No one wants to work with grumpy, negative people. Negative people will affect every employee in your business and also your customers. Every employee will occasionally have a bad day, but for the most part, you should expect your employees to be at least pleasant, if not cheerful, at work.
It goes without saying that you want employees who are trustworthy and honest. Do your duty and carefully screen employees before hiring them. It’s better for you to find out that they are dishonest by talking to their previous employer or by doing a background check on them, than by firsthand experience. Dishonest and untrustworthy employees can be a severe liability to your business. Don’t risk it.
Justice Mandhla is the author of Boost your sales and attract new customers and he spends a great deal of his full-time writing days researching and writing about marketing and advertising strategies.
See more at http://www.businesslearning4life.com