8 Personal Qualities of an Entrepreneur

Author: Notre Dame ESTEEM

8 Personal Qualities Of Entrep B8 Personal Qualities Of Entrep B

The concept of entrepreneurship is very simple, it is 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 not defined by race, age, gender, financial position, experience or education -- the most prominent entrepreneurs of past and present have had certain personal qualities. 

  1. Willpower - is key to success. it is a strong longing to achieve success. Despite many failures, the entrepreneur never loses their will to achieve. 

  2. Management - Is the ability to make plans, devise targets, and then execute!

  3. ObsessionThe entrepreneur who is obsessed with their goals and ultimate vision will make others believe in them too.

  4. Smarts - An entrepreneur must have old-fashioned common sense and be able to make good decisions and deal competently with others. 

  5. Self-assurance - The entrepreneur is self-assured, confident in their abilities and knows how to look into the future and plan well. A self-assured person instills further confidence in themselves.

  6. Devotion - The entrepreneur is devoted to their goals, working long and hard, day and night to achieve them. 

  7. Inspiration - Building a business requires an inspiration and the creativity which will lead to a better product and excellent results,. An entrepreneur thinks outside of the box.

  8. Flexibility - Creating a product that meets the needs of the market requires flexibility. This quality is very important. Stubborn, unflexible people will not make good entrepreneurs

Foster your entrepreneurial mindset and build your business through ESTEEM, Notre Dame's program that strengthens entrepreneurial skills and helps professionals create within Notre Dame's Innovative Sandbox. Whether it's through acquiring venture capital at McCloskey, working on your startup as a Capstone project, or working with the Notre Dame network for mentorship, this program offers many ways for you to build your business! 

Learn More   about the ESTEEM program today.

Read more about the experiences of ESTEEM alumni and young entrepreneurs: