5 Tips To Become A Successful Entrepreneur

Friday, February 12, 2010, 6:00 AM | Leave Comment

Entrepreneurs are usually thought of as risk takers. True, they take risk but calculated risk at that. A true entrepreneur works constantly and always does due diligence to maximize the odds of success.

Entrepreneurship is a state of mind where it must follow to imagine and predict what is possible and most important to execute the idea.

Most successful entrepreneurs share the following 5 characteristics:

  1. Entrepreneurs make their decisions based on casual observations and a gut feeling

    In a large corporation, it would be considered reckless to make decisions with so little information. As a result, large companies are slow to act.

  2. Entrepreneurs can assemble a good team to follow their idea

    Almost all successful companies have more than one person behind their success. If the entrepreneur cannot convince a single person, then it’s is not such a great idea.

  3. Entrepreneurs are persistent and determined

    They are persistent (success) but not stubborn (failure). Entrepreneurs are listening and looking for ways to tweak their idea so that eventually it can be funded.

  4. Entrepreneurs have conviction

    They always look for trends and the “IN”. Accordingly, they adjust their thought process. Such flexibility is always balanced with a healthy dose of conviction.

  5. Entrepreneurs have passion

    They have not only the conviction but passion as well for an idea. That’s why entrepreneurs are not afraid of hard work. Passion motivates the entrepreneur.

In a Nutshell
True entrepreneurs will keep working on an idea until it can be funded, and then executed. They will constantly and consistently speak with customers, users, buyers, and mentors.

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