5 key traits of a successful entrepreneur » SMEInsider

5 key traits of a successful entrepreneur

The potential rewards of starting your own business ownership are many, but along with them come some real challenges.

Entrepreneurship is not for everyone, and is definitely not for the faint of heart – after all, there is no such thing as a fail-safe business concept. Nevertheless, aspiring entrepreneurs who possess these five characteristics are off to a good start!

Successful entrepreneurs are:

1. Willing to invest time. You must be prepared to work long and unsociable hours. Work never stops when you’re running your own business, so clocking off at 5pm is a thing of the past.

2. Able to handle stress. Whether this be money related, fatigue related, or fearing failure, you must be ready to deal with stressful situations and work through them.

3. Good at sales, marketing, networking. Meet people; get your business out there. Get used to talking about your business with total strangers; entrepreneurs are great communicators.

4. Good and realistic with their budgets. Make sure you have enough money to get up and running. Many startups get this wrong and are doomed to failure.

5. Destined to succeed! Although you are bound to have your off days, ultimately believe that your business idea is great and it will make you money. If you don’t believe in your business, then who will?