10 Characteristics of a Successful Entrepreneur, Skills, Attributes, Traits and Abilities

We explain what a successful entrepreneur is like and the skills he must possess. Also, what are its main characteristics.

What is an entrepreneur?

An entrepreneur is a person who having knowledge , information, contacts and, added to high levels of innovation and creativity , manages to find a niche or market niche to increase sales , production or discover advances with the aim of increasing the profits of a company .

The term entrepreneur is used as a synonym for entrepreneur . Next, we will define what essential characteristics an entrepreneur or entrepreneur must have , their best qualities and traits that determine success in their work .

Characteristics of a successful entrepreneur :

1. Keen sense for observation

A good businessman detects a business where the rest see only chaos . For this reason, the entrepreneur must be constantly updated and informed of all the micro and macro economic and social reality that surrounds him (nationally and globally as well).

2. Goals

An entrepreneur must be clear about his main objective : increase his sales by expanding market share (market expansion), create new uses for products that are already on the market (expansion of product uses), among others so many goals .

3. Ability to develop ideas

In addition, an entrepreneur must be able to organize these ideas and carry them out . In this way, it is considered that an entrepreneur must have two main characteristics or capabilities:

• Technical capacity. Which refers to your ability to develop a specific plan that will lead you to your goals.
• Personal ability. To choose the ideal personnel to accompany you in the fulfillment of these goals.

4. Ability to take measured risks

A good entrepreneur is attentive to market variations, knows how to take measured and well-studied risks. For this reason, the entrepreneur is in constant movement and attentive to any variation in the market and competition, to relevant technological innovations, politics and national and world economy , among other information that will depend on each particular item depending on the company to the one that belongs to the employer.

5. Making the right decisions

These decisions made by the employer must be in pursuit of the improvement of the company . It is not a decision based on personal benefit, but always thinks about making decisions according to whether or not it is convenient for the company.

Thus, he may find himself facing a decision that is economically convenient for the company but with which he (on a personal level) does not agree. In any case, the entrepreneur ensures the uninterrupted growth of the company, putting aside his personal views regarding decision-making.

6. Responsibility

A great entrepreneur is capable of following his action plan with motivation towards himself and towards his employees, respecting times and parameters of the company's action plan.

7. Self-confidence

The entrepreneur believes in his project, in his goals and in his abilities . You have a vision for the future and trust your intuition .

He has a great capacity for analysis but he also has a trained eye to detect problems , since he uses his sense of observation, being able to see into the future and take a step forward in each specific situation. This avoids from minor problems to the bankruptcy of the company.

8. Multidimensional look

Furthermore, a good entrepreneur constantly observes his environment seeking to optimize his project . Thus, you will be able to observe the company internally as well as externally. In this way, it evaluates changes in employees , observes the level of satisfaction or dissatisfaction of these (internal look towards the company), as well as calculates possible changes in the market, its direct and indirect competition, changes at a national or global level (look towards outside the company).

9. Mindset open to changes

Frequently, the constant observation and evaluation that the employer makes internally and externally of the company, leads him to make changes that appear to be sudden , but which have been meticulously studied.

10. Organization

A good entrepreneur must not only be organized in the fulfillment of their goals , they must also be organized internally with their employees and physical resources. It cannot be on the sidelines of any significant detail for the business.

The above content published at Collaborative Research Group is for informational and educational purposes only and has been developed by referring reliable sources and recommendations from technology experts. We do not have any contact with official entities nor do we intend to replace the information that they emit.