10 virtues of a successful entrepreneur
Last night you had an epiphany – you were all excited that maybe you could be the next Bill Gates, Richard Branson or Warren Buffett – but this morning you’re questioning whether you have what it takes to be a successful entrepreneur. 
By Bill Morrow of Angels Den
It can seem like a very big leap from a comfortable (if mind-numbingly boring) desk job to following an entrepreneurial dream.
So here is my equivalent of the tests those trashy magazines ask you to complete to see if your girl/boyfriend is truly happy with you, so you can determine whether you have the characteristics that could set you on the path to being a successful entrepreneur:
• Passion: Take a look at any successful entrepreneur and consider how you would rate their passion for their product, business and life.
Successful entrepreneurs have an infectious passion for things that drives them forward, inspire them to achieve great things and keep them motivated when others would give up and take the easy route to a pay cheque.
Launching your own business is a roller-coaster ride of highs and lows: do you feel that you could brave the ride? If you answer YES then read on.
• Dedication: Launching your own business is an all-consuming exercise.
There never seems to be enough time to do everything that you want to do, and you’re performing several people’s jobs at once, working evenings, weekends and public holidays to make sure that your business thrives or at least survives its first 12 months.
Do you have this amount of commitment in you?
• Self-belief: There will be times in any successful entrepreneur’s career when their belief is tested.
People may tell you that it cannot be done, that the idea just will not work, that it is folly to pursue such a dream.
A successful entrepreneur is one who is able to wade through the doubters with their belief intact.
• Open-mindedness: Everyone has heard of the successful entrepreneur who has been so single-minded that they have ignored everyone else and alone have still achieved great wealth and success, but in the main you’ll find that these are just over-simplifications of an individual’s story.
Successful entrepreneurs must be open to new ideas, to be able to develop their business; flexible in their approach to satisfy the needs of the market; and willing to take on board the thoughts and objections of others, to be able to formulate an argument that silences the doubters.
• Inspired and inspiring: Having an idea is one thing, but being able to convey your excitement about it to others is imperative to the success of your business.
There is little point in having the best idea since the bread slicer if nobody hears about it. A successful entrepreneur is someone who talks about their idea with passion to everyone they meet through their work and social life.
You don’t have to do the hard sell on your friends, but getting the word out is all about taking every opportunity to expand the circle of people who have heard of your business and are inspired by its very existence.
• Can do, will do attitude: You need the motivation to get out of bed each morning and fight to advance your business or to challenge an established but restrictive belief.
Successful entrepreneurs see road blocks to their business as simply challenges to overcome. Do you have a rebellious streak? Can you think laterally?
• Focused: Life is full of distractions. Family, friends, social activities, television, Sarah Michelle Geller.
Successful entrepreneurs are focussed individuals, able to distinguish between work time and home time and not allow these two worlds to blur into each other.
Home time may need to accept some compromises in the beginning, but it is important that you take time out occasionally to remind yourself what you are slaving for.
• Willing to learn: No one person can know it all. It may sound terribly boring, but the willingness to learn will give you knowledge to understand your product, your promotion, your audience, your marketplace and how to best run your business. Learn something new every week and you’ll be richer for it.
• Delegation: You cannot do it all on your own. In the beginning it may be just you running yourself ragged, but as your business grows there comes a point where you have to delegate to others.
Not to do so could seriously hinder your chances of becoming a successful entrepreneur, but many people find it difficult to let go of total control at this stage.
• Street smarts: Becoming a successful entrepreneur has more to do with street smarts than traditional measures of intelligence.
You do not need to be intellectual or have gone to the right schools, and you certainly don’t need a degree to achieve your own business goals.
(While it’s an excellent opportunity to round your knowledge and character and have lots of fun, many of the world’s wealthiest people never went to University.)
Do you have the street smarts to be inventive, to find all the information you’ll need to succeed and to challenge established norms?
Building your own business is hard work, time-consuming and really, really tough. At times you’ll wonder why on earth you took the entrepreneurial road, but get it right and it’s also incredibly satisfying, fun and very lucrative.
So if you have a business idea or invention that you think could be the next big thing, go for it.
www.angelsden.co.uk
Why not sign up to our small business newsletter and learn more?
Discuss this in our forum
More about entrepreneurs here
By LaunchLab.co.uk on Apr 24,2009
Add a comment | Add a rating | Email to a friend
Keywords
entrepreneurs Bill Morrow Angels Den business angels business starting a business start-up
Comments
CV servicesnice post, gives motivation that is needed for being a successfull entrepreneur. starting to write resume with the help ofCV writing services Report Abuse
This site shows good info about having a business for yourself , before you can be successful business owner should do the following step, the most important here is leadership. www.mahut.co.il/?categoryId=626
Report Abuse
I like very much your way of presentation Some great information to be absorbed in this post.Thanks a lot for sharing. residential property gurgaon | school in gurgaon | residential plot in gurgaon | residential house in gurgaon | web design company
Report Abuse
This is a wonderful site which i like much. I have got interesting information in this site... pet relocation | pet travel | dog travel india | seo company delhi |
Report Abuse
I like very much your way of presentation Some great information to be absorbed in this post.Thanks a lot for sharing. residential property gurgaon | school in gurgaon | residential plot in gurgaon | residential house in gurgaon | web design company
Report Abuse
This is a wonderful site which i like much. I have got interesting information in this site... pet relocation | pet travel | dog travel india | seo company delhi |
Report Abuse
Nowadays, Coach handbags are becoming more and more popular with the excellent quality and reasonable price,reliable performance, attractive design, full range of colous and specifications.So, login Coach Outlet Store is the most convenient way to find your ideal articules.While, to meet the increasing customers' demands we also offer more this kind of site such as,Coach Outlet ,Coach Outlet Store Online,Coach Factory Outlet,from which you can get whatever you want. What's more, these sites offer you the commodities of superior quality and lower price compared with others ,such as Coach Crossbody bags.Our coach is the best seller in international market for its quality and quantity assured ,so, You are assured to get the luxury goods from these sites.
Report Abuse
Coach Outlet has become a more popular and convenient tool to purchase your ideal handbags. As we all know ,coach is one of the most fashionable brand among the fashion eare. Why this brand is so popular, maybe the best reasons for this are that Coach Bags are excellent in quality and reasonable in price,full range of sizes and specifications , a varity of colous and attractive designs .Also, Coach Outlet Online Store is a more concenient and cheaper site, from which you can purchase the superior quality articules with the lowest price. What's more, in order to meet the customers' demands we also offer other platforms, such as Coach Factory Outlet, Coach Outlet Online Store , Coach Outlet Online. Theae sites are famous for quality and quantity assured and good after-sales service,for example ,Coach Poppy Bags sell very well in international market. So Now Please Take Action For Your Style!
Report Abuse
Coach Outlet is well known by its adorable handbags,Coach Outlet Online is most popular a way to buy cheap Coach Handbags Outlet USA.If you want buy some coach items you can go to our store.Coach Outlet Onilne Store have most latest items and classic collection,Coach Shoulder Bags is a great collection in Coach brand,so visit Coach outelt online now,surprise are waitting for you!
Report Abuse
Well-known luxury brands (Louis Vuitton). Louis Vuitton was founded in 1854?authentic louis vuitton, now part of French post-production high luxury goods group Moet Hennessy LouisVuitton?louis vuitton black. Founder of the first post of Louis Vuitton LV jewelry industry for the elite aristocracy?louis vuitton outlet?when pack when traveling. He witnessed the invention of the steam train?louis vuitton wallet, also witnessed the development of steamshipcheap miu miu?transportation?cheap fendi, but also deeply appreciate the dome was closed stacked luggage difficulties?louis vuitton sofia coppola.
Report Abuse
