Seven Key Qualities of Successful Entrepreneurs
Written by: Nowshade Kabir
A recent poll conducted by Forbes magazine shows that majority of its readers would prefer to become a billionaire rather than
a Nobel peace prize winner, a great scientist or a famous athlete.
There is no secret that most of the average people dream about getting
rich albeit very few makes any real effort to become one.According to
statistics, more than 100 thousand people become millionaires each year
in the United States alone! Overwhelming
majority out of them is self-made and owners of business. This
means, if you would like to pursue your goal of becoming rich,
you have to start your own venture.Becoming an entrepreneur is
not an easy task! There are certain qualities that are absolutely
necessary if you would like to become successful in your business
ventures.
Some
of these qualities are built-in parts of your inherent personality, and
some of them get developed over time. Knowing these characteristics and
identifying your weak ones - those, which need strengthening - will,
eventually, help you become a successful entrepreneur.
1. Common Sense
Studies
show that most successful businessmen consider common sense as the
foundation of their success. Common sense is defined as an ability to
make sound judgments on the issues, which you encounter in everyday
situations.Good judgment depends on acquired knowledge and past
experience.
The combination of these two creates necessary prerequisites in
developing common sense in a person. Common sense allows you to
understand complex issues in simpler terms and get into the core of a
problem.
2. Specialized Knowledge of your field
It
is easier to start a successful business, if you have deep knowledge of
the business field that you decide to pursue. About half of all
home-based start-ups are launched by people who decide
to use the knowledge, which they gained from their previous work
experience of a particular niche area.Philip Green, a billionaire, who
made his fortune in garments retailing, claims that corner stone of his
success is his knowledge of rag trade. He, presumably, can price a
fabric simply by rubbing it between his fingers. Just by looking at a
rack of coats he can predict which ones won't sell next season.
That's
the kind of knowledge required in order to become successful in
entrepreneurship.Around 45 percent of all start-ups fail to survive
more than two years. One of the main reasons is many entrepreneurs do
not accumulate needed industry knowledge before jumping into business
world.
3. Self-confidence
Self
confidence is a key entrepreneurial skill for success. read
more »
Seven Key Qualities of Successful Entrepreneurs
Time Out Stop Beating Yourself Up
Prospecting for Your Nutrition Business Icebreakers
Unleash It
therace
Improve Your Self Confidence
Obtaining SelfConfidence
10 Ways to Monitor Corporate Stress Levels
