Entrepreneurs have the ability to seek out a problem that needs to be solved, generate a solution, and execute a solution. This skill-set takes an extraordinary set of unique behaviors to not only solve problems but also to build an organization from the ground up. The main characteristics common to successful entrepreneurs are: innovation, achievement, action-oriented, organization builder, and authenticity. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes. Management skill and strong team building abilities are often perceived as essential leadership attributes for successful entrepreneurs.
Psychological studies show that the psychological propensities for male and female entrepreneurs are more similar than different. A growing body of work shows that entrepreneurial behavior is dependent on social and economic factors. For example, countries with healthy and diversified labor markets or stronger safety nets show a more favorable ratio of opportunity-driven rather than necessity-driven women entrepreneurs. Empirical studies suggest that male entrepreneurs possess strong negotiating skills and consensus-forming abilities. Research studies that explore the characteristics and personality traits of, and influences on, the entrepreneur have come to differing conclusions. Most, however, agree on certain consistent entrepreneurial traits and environmental influences. Although certain entrepreneurial traits are required, entrepreneurial behaviors are also dynamic and influenced by environmental factors..Entrepreneurs are continually challenged to perform in a market full of financial, environmental factors, and driving costs. These pressures can lead to unethical business practices in order to sustain the organization and meet the demands to stay in business. Some researchers suggest that the characteristics for being a successful entrepreneur are the formula for pressing the entrepreneur to make unethical choices. By identifying personal core values and creating an ethical code of conduct, an entrepreneur has a road map to ethical leadership.
An entrepreneur should be excited by the prospect of work. They should always have a strong drive to succeed and overcome obstacles. They should not only set big goals for themselves but also see that they are actually committed to achieving them regardless of the countless setbacks that occur.
A successful entrepreneur always has a strong sense of self confidence and a healthy opinion of their skills and abilities. An entrepreneur should always be on the lookout for new innovations and ideas in order to emerge as a winner. Another important quality of a successful entrepreneur is openness in adopting change. They should not be headstrong and stubborn when it comes to choosing other options. Change is the only thing that is constant in business no one can make any profits on age old methods. Competition should never scare an entrepreneur. In fact, competition is what a successful entrepreneur thrives on. Monopoly is never a good thing. This is because in monopoly there is no scope for improvisation or change. An entrepreneur should be highly energetic and motivated. He or she should always be on the go. At the same time, the commitment levels have to be pretty high. Only when a person is motivated can he do justice to his line of work.
However it must be remembered that accepting criticism is a very important way of getting success. This is because a person will then be aware of the shortcomings of his business and accordingly make amends. Hence accepting criticism is actually a good way of improvising. Passion, resourcefulness, willingness to improvise and listen to others and strong determination to succeed is what makes an entrepreneur successful. And this is what you have to keep in mind as well if you want to be a successful entrepreneur yourself.
