16 Vital Traits Shared by All Successful Entrepreneurs

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The first step in deciding whether to start a business is to ask yourself this important question: "Do I have what it takes to be an entrepreneur?" A variety of experts have documented research that indicates that successful small business entrepreneurs, whether male or female, have some common characteristics. How do you measure up? It will be up to you -- not someone else telling you ­- to develop projects, organize your time and follow through on details.

Contrary to conventional opinion, an entrepreneur can be either an introvert or an extrovert. The basic difference is, introverts tend to focus their energy internally and often work better by themselves. Extroverts focus their energy externally. They usually work better in groups, or teams. Very few people are completely one way or the other. Most fall somewhere in between. True entrepreneurs:

1. Have a passion for what they do.

2. Have "street smarts." They don't stay locked up in their ivory towers.

3. Have the capability of excelling in at least one area of business.

4. Become an authority on what they do, and monitor the progress of their endeavors.

5. Are team builders. They excel at bringing people into the enterprise who are smarter and more skilled in specific areas.

6. Ask for what they want and need and are relentless and tenacious at problem solving.

7. Realize the need for the help and support of others.

8. Understand that success rarely comes without total commitment. The only limitations they face are the ones they impose upon themselves.

9. Have high energy.

10. Have extraordinary self-confidence.

11. Set long-term goals.

12. Perceive money as a measure of accomplishment.

13. Persist in problem-solving and have a knack for getting more accomplished with less.

14. Take initiative and moderate risks, learn from failure, and seek and use feedback.

15. Accept personal responsibility, and use all available resources.

16. Believe that success or failure lies within their personal control or influence.

The most successful entrepreneurs are certainly not the most intelligent or the most highly educated. But they are creative, highly motivated, intuitive and possess the ability to recognize opportunities when they spot them.

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