When thinking about traits of "successful" entrepreneurs, it is important to first consider success. Success, for this purpose, is effectiveness in reaching entrepreneurial goals. There are 30 traits successful entrepreneurs, stated by Craig Hall:
1. Successful entrepreneurs are natural, charismatic leaders
2. Successful entrepreneurs are passionate about what they do
3. Successful entrepreneurs have vision & goals
4. Successful entrepreneurs thinks out of the box
5. Successful entrepreneurs work hard & hopefully smart
6. Successful entrepreneurs are survivors
7. Successful entrepreneurs are trying to prove themselves
8. Successful entrepreneurs are focused
9. Successful entrepreneurs are optimists
10. Successful entrepreneurs are realists when they need to be
11. Successful entrepreneurs are creative problem solvers
12. Successful entrepreneurs are often insecure
13. Successful entrepreneurs never give up
14. Successful entrepreneurs know when to be flexible
15. Successful entrepreneurs are motivators
16. Successful entrepreneurs are on a mission
17. Successful entrepreneurs can pull the trigger
18. Successful entrepreneurs are angry, frustrated and hungry for control
19. Successful entrepreneurs are introspective
20. Successful entrepreneurs rely heavily on intuition
21. Successful entrepreneurs are emotional & sensitive
22. Successful entrepreneurs use a win-win approach
23. Successful entrepreneurs respond best to challenges
24. Successful entrepreneurs have a “killer instinct”
25. Successful entrepreneurs fill vacuums
26. Successful entrepreneurs rely heavily on relationship & personal credibility
27. Successful entrepreneurs don’t accept failure, only seatbacks
28. Successful entrepreneurs can visualize & dream about their plans
29. Successful entrepreneurs are “stress carriers” who handle pressure well
30. Successful entrepreneurs are responsible
In Trump University Entrepreurship 101 by Michael Gordon and Donald J. Trump, there are also some obstables to start-up business, there are:
1. Lack of financial resources: personal assets, borrowing ability or OPM
2. Potential for financial loss: start-up capital & cash outflow after zero stage
3. Career risks: burning bridges, loss of income, loss of works environment
4. Emotional: lack of self-confidence, self-perception if your business is not successful
5. Pressure on family: not enough time or financial resources
6. Health: stress, long hours
7. Lack of the big opportunity
8. Inertia: “just plain stuck”
9. “I still don’t think I have what it takes to be an entrepreneur”
Sources to be creative and innovation:
1. Trade show
2. Books, magazine, journal
3. Unstoppable trends
4. Courses
5. Hobbies, skills, passions
6. Product improvement
7. Unfilled market needs
8. Travel to new places
9. Changes in industry & market structure
10. Demographic changes
Sources:
1. Introduction to Business (2007) by Jeff Madura
2. Trump University Entrepreneurship 101 (2007) by Michael Gordon & Donald J. Trump.
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