8 Personal Qualities of an Entrepreneur

Author: Notre Dame ESTEEM

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The concept of entrepreneurship is very simple, to start one’s own business. However, some economists think it is more than that. They think that a person who takes chances to create profit is an entrepreneur and possibly the simplest definition of entrepreneurship is a novice who wants to invent something new and wants to market their innovations for profit.

So, while everyone can become an entrepreneur -- it is beyond race, age, gender, financial position, experience and education -- the most prominent entrepreneurs of past and present have certain personal qualities. 

Willpower

It is the key to success. The strongest longing to achieve success is willpower. Despite many failures, the entrepreneur never loses heart. 

Management

The ability to make regulations, devise targets, and then observe them until they are accomplished.

Obsession

The attribute of making others believe in the entrepreneur’s vision requires obsession.

Smarts

Having old-fashioned common sense regarding decisions, innovations, and dealings. 

Self-assurance

Planning is the source of self-confidence. Foreseeing the events prior is part of business planning which instills you with confidence. Expertise is also helpful in building self-confidence. 

Devotion

The most encouraging factor of an entrepreneur is devotion. The entrepreneur works day and night to achieve their goals. 

Inspiration

The spark for any new business requires creativity. It is an ongoing process leading to better product, excellent results, and thinking outside-of-the-box. 

Flexibility

To transform your product and yourself according to the needs of the market is a commendable quality of an entrepreneur. This quality is very important, as stubborn people cannot become good entrepreneurs. 
 

Do you have any attributes that you would add to this list?