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What Traits and Characteristics Make a Successful Entrepreneur?

Aug 17, 2007
There are numerous studies have been made of small business managers over the years. Many studies look at traits and characteristics that appear common to most people who start their own businesses. Other studies focus on characteristics that seem to appear frequently in successful owner-managers.

First, consider those distinguish characteristics that the person who opens his or her business from the person who works for someone else.

Studies investigated successful and unsuccessful owners, some of whom went bankrupt several times. Some of them were successful only after the second or third try. The characteristics they share might almost said to predispose a person into trying to start a business. Of course, not all of these characteristics appear in every small business owner-manager, but the following seem to be most predominating.

People who start their own business may be members of different political parties, feel differently about religion, economics and other issues than others do. Based on the human nature, they are just like everyone else. The difference is they usually have strong feelings and opinions toward to the issues or the things they are facing; they also express themselves more strongly in a consistent way.

If you are going to risk your money and time in your own business, you must have a strong feeling that you will success otherwise you will not do it.

Well, sometime these strong feelings may also cause problems. For example, in the business practice, you know the manager must have authority to get things done instead of others, but you are not comfortable of working under someone. This indicated that your might have similar attitude in a scholastic, family or other authority structure, which will make you feel uncomfortable if there somebody ask you do something.

Therefore, if you want to open your own business, you probably already have a strong "Need for Achievement". This "Need for Achievement" is a psychologist's term for motivation and it usually measured by tests. It can be an important factor in your success.

On the other hand, the person, who would not think of starting a business, might call you a plunger, a gambler, a high-risk taker. Well as a person so passionate to "need for achievement", you probably do not feel that about yourself.

Studies also have shown that the small business owner does not differ from anyone else in risk avoidance or aversion when measured on tests. You may thought this seems unreasonable since logic tells us that it is risky to open your own business.

One time, a management expert did a very simple explanation to this apparent contradiction: "When a person starts and manages his own business he doesn't see risks; he sees only factors that he can control to his advantage." Which means that if you possess these traits to some certain degree, it does not mean you will be successful; it is only meaning that you will very likely start your own business. Some of these characteristics in excess may actually hamper you if you are not careful.

As studies result, the characteristics that appear most frequently among "successful" small business managers are included drive, thinking ability, competence in human relations, communication skills and technical knowledge.

Drive - as defined in the study, is composed of responsibility, vigor, initiative, persistence and health.

Thinking ability - consists of original, creative, critical, and analytical thinking.

Competency in human relations - means emotional stability, sociability, good personal relations, consideration, cheerfulness, cooperation and tactfulness.

Communication skills - include verbal comprehension, and oral and written communications.

Technical knowledge - is the manager's comprehension of the physical process of producing goods or services, and the ability to use the information purposefully.

Motivation or drive is one of the main factors that has been considered long time in carry out effective performance. Psychologists now claim that you can increase the motivation and the personal capacities, which will improve your effectiveness and increase your chances for success.

Much of the development of such achievement motivation is depends on setting yourself the right kind of goals, in other words, you need to set up the right goals regarding to your own needs in order to achieve success.
About the Author
Ann Liu, author of "Online Profiting: A Simple Way To Start and Build Your Own Online Business". To learn how YOU too can succeed in Internet and affiliate marketing, please visit http://Marketingbyann.com
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