What is Entrepreneurship? – 5 Characteristics of Successful Entrepreneurs

The definition of an entrepreneur is a person who sets up a business or businesses, taking on financial risks in the hope of future profits.

Entrepreneurs have the potential to solve many of the worlds problems, while making themselves wealthy. Not only can they achieve their own goals, they can also help others to do the same.

See also: How to Gain Financial Freedom – 5 Steps to Becoming Wealthy

If you have a dream to be a successful entrepreneur and to help others, you are in the right place.

There are some key things that you can do to ensure your success as an entrepreneur. To know if its right for you, consider the following positive characteristics and traits of successful entrepreneurs.

What is Entrepreneurship? – 5 Characteristics of Successful Entrepreneurs

1. Self Discipline

Self discipline is the most important single quality for success in life and business. If you can discipline yourself to do what you should do, whether you feel like it or not, your success is virtually guaranteed. Self discipline requires self mastery, self control, self responsibility, and self direction.

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The difference between successful entrepreneurs and failures, is successful entrepreneurs make a habit of doing things that failures don’t like to do. And what are those things? The things that failures don’t like to do are the same things that successful people don’t like to do. But successful people do them anyway because they realize that this is the price that they must pay to get the success they desire in the future.

2. Integrity

Perhaps the most valued and respected quality you can develop is a reputation for absolute integrity. Be perfectly honest in everything that you do, and in every transaction and activity. Never compromise your integrity. Remember that your word is your bond, and you honor is everything when it comes to your business. All successful businesses are based on trust.

Your success in becoming an entrepreneur will be determined by the number of people who trust you to do the work for you, who give you credit and money, buy your products and services, and help you during difficult times. Your character is the most important asset that you develop in your entire life, and your character is based on the amount of integrity that you practice.

3. Persistence

Persistence is an indispensable quality that goes hand in hand with all great success in life. One of the great secrets of to persistence and success is to program your subconscious mind well in advance of setbacks and disappointments that you’re going to have on your upward climb towards success.

Resolve in advance that you’re never going to give up. The courage to persist in the face of adversity and disappointment is the one thing that is going to guarantee your success.

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Your greatest asset is your determination to persevere longer than anyone else. In fact, persistence is the true measure of your belief in yourself that you can succeed.

4. A Clear Sense of Direction

Because of the turbulence and change in today’s marketplace, most business owners have been used to operating day by day. They are totally preoccupied with short term problems and the need to get short term sales and profits. They intend to spend more time thinking and planning for the future, but they don’t ever seem to get around to it.

Check out: The 9 Disciplines of Successful Entrepreneurs

This is not successful business owners. You need to set clear targets for yourself and for every part of your business. In fact, perhaps your most important responsibility to your people is to give them a clear sense of direction in their work.

The 9 Disciplines of Successful Entrepreneurs

The 9 Disciplines of
Successful Entrepreneurs

5. Decisive

They think and make decisions quickly. Successful entrepreneurs discipline themselves to take action and to carry out the decisions that they have made. They move fast and they get quick feedback from their actions. If they find that they’ve made a mistake, they quickly self correct and try something else. The key to triumph is for you to try.

Successful people are decisive and they try far more things than other people do. According to the law of probabilities, if you try far more ways to be successful, the odds are that you will eventually find the right way for you at the right time.

Discover proven techniques and strategies for greater success in sales, time management, self-development, personal wealth, business, leadership, and more here.

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