Five Characteristics That Experts Say Most Entrepreneurs Have

October 22, 2006

Here’s something kind of interesting that I found in hometown newspaper, the Wichita Eagle. It is a list of five characteristics that most entrepreneurs have. It is a short article so I decided to add my thoughts:

1. They are risk takers. They are not afraid to move forward with an idea that could fail.

This makes perfect sense to me. A true entrepreneur has to be able to stomach the risk of failure. The inability to accept risk is the reason why MOST people are not entrepreneurs. That’s okay. Not everyone can be an entrepreneur.

2. They know themselves. They know where their strengths lie and surround themselves with people who can fill in the gaps where they are weak.

I think this is true of “successful” entrepreneurs but necessarily a trait of all entrepreneurs. It is also a trait of successful managers.

3. They have a need for achievement. Building a concept into a business gives them great satisfaction.

It’s true. A successful entrepreneur loves what they are doing.

4. They embrace autonomy. They want to be their own boss and are willing to work long hours to build their business.

This is where the rubber meets the road. All entrepreneurs must count the cost when deciding to go into business for themselves. If they aren’t willing to put in the hours necessary, they probably won’t be successful.

5. They won’t stop at one venture. Whether their first concept succeeds or fails, they’re likely to continue a cycle of building new businesses.

Perserverance is the key. If the first, second, third, and fourth businesses fail, they go for the fifth business. They will eventually be a success or they’ll die tryin’.

4 responses to Five Characteristics That Experts Say Most Entrepreneurs Have

  1. It’s a really good list. Being an entrepeneur doesn’t sound easy at all.

  2. These are true- I am an entreperenuer- and I have to say it is just in some of us. I do it because I’m compelled to and I love it. Perseverence is the number one attribute to being successful. I believe with all my heart that this is the reason so many business start ups fail- lack of perseverence. I have lived it and I have seen enough in business to know. The risks are greater ( to some) but the rewards are far greater in many cases!

  3. I completely agree with that list. I’d also add that they’re not afraid of going against “the norm”.

  4. It’s cuz we’re not the norm lol- When everyone goes left, we go right…