Business & Entrepreneurship

Five Most Important Characteristics Of An Entrepreneur

There’s a line between being a small business owner and an entrepreneur. Entrepreneur is more open-ended. There’s more ambition attached to it, so the small business owner could potentially become a medium-sized business owner or something even more expansive.

“An entrepreneur is not just someone who deals with dollars and cents. In fact, many entrepreneurs do the exact opposite.”

How many times have we heard a success story about someone who started in his or her garage and is now running a business empire? That’s what separates entrepreneurs from business people. So, what exactly is it that makes a strong and successful entrepreneur?

An entrepreneur is not just someone who deals with dollars and cents. In fact, many entrepreneurs do the exact opposite. They are better at delegating responsibility and recognizing talent, as opposed to performing every action. Read on for more of the most important characteristics of an entrepreneur.

1. Visionary

Business is not just about making a profit. Of course, it’s the reason for business, but profit is the hopeful result rather than the actual means. A successful business leader has to be something like a successful politician — inspiring large groups of people to action.

Having a vision is a major component of inspiring both employees and colleagues. The important component is dreaming big. However, dreaming big has some limits. It needs to be tempered by pragmatism or no one is going to take the vision seriously.

2. Self-Awareness

Being able to inspire other people to action requires knowledge of self. Too many budding entrepreneurs despise admitting their own weaknesses. They believe that part of success is putting on a false bravado. Often, people can see through the facade.

More importantly, though, is the idea that a successful entrepreneur is only as strong as the people working for him. An entrepreneur needs to be honest about his own faults and strengths, so that he can hire people who will best meet the needs of the business.

3. Entrepreneurial Characteristics and Intelligence

The entrepreneur exhibits intelligence through intellectual curiosity. An entrepreneur can’t just sit back on his heels and wait to find business opportunities. He always needs to be investigating new modes of business and making new contacts.

In addition, an entrepreneur has to be a long and short-term planner, gauging the current climate versus what can be accomplished long term. An entrepreneur always has to be looking for new ways to accomplish his vision.

4. Extroversion or Introversion

An entrepreneur has to be a people person. Remember, an entrepreneur isn’t necessarily going to be limited to one industry. This means attending a variety of business meetings in different business sectors, in which the entrepreneur needs to be active in asking questions of colleagues, as well as conveying his passion and vision about current projects.

An entrepreneur must be outgoing. He should exude confidence without arrogance — though some cockiness can be effective as well.

5. Ambition

Ambition ties it all together. If an entrepreneur doesn’t believe that he can do something better than what has come before, he’s not going be very effective or successful. A sense of urgency typically accompanies the ambitious feelings of an entrepreneur. A strong desire to get things done will rub off on employees and business associates.