25 CHARACTERISTICS OF A PERFECT ENTREPRENEUR

25 CHARACTERISTICS OF A PERFECT ENTREPRENEUR

25 Characteristics Of A Perfect Entrepreneur

25 characteristics of a perfect entrepreneur

Every entrepreneur have at the core of their personalities, certain distinguishing characters which sets them apart from the crowd. They are a different breed. They think different, act different, and exhibit a different lifestyle from the rest of society. So, who is the perfect entrepreneur? What makes him/ her thick? Every entrepreneur whether active in business or the newbie just beginning to nurse an idea or concept have certain characteristics which sets them apart. This article will help you discern the distinguishing qualities of a perfect entrepreneur at heart.

1. Motivation. This is perhaps one of the many traits that make for a perfect entrepreneur. Entrepreneurs are go-getters and will work on something over and over again until they’re successful, without getting bored. Entrepreneurs are enthusiastic, optimistic and futuristic. They believe they’ll be successful and are willing to risk their resources in pursuit of their dreams. They are natural self-motivators and display a lot of energy in pursuit of their dreams.
2. Risk taker. Starting up any new business venture is certainly risky. An entrepreneur’s ability to assume risks and absorb them sets them apart. Entrepreneurs can reduce risks by thorough researching their business ideas or concepts, the industry and market. They are always ready to dive deep into a venture inspire of uncertainties. They are willing to waste their time and money on unknowns, even on ventures that have not been successful prior to theirs. Yet, they have plans and resources to deal with ‘unknowns’. When evaluating risks, a successful entrepreneur will ask this; “is this risk worth the cost of my career, time and money?” And “is there a plan B, if this venture doesn’t pay off?”
3. Believers. Entrepreneurs believe in themselves and are confident and dedicated to their dreams. Sometimes this kind of dogged self believe can be misconstrued as stubbornness, but it is this willingness to work hard and defy the odds that makes them successful. As an entrepreneur you must take the driver’s seat, and be the doer at all times – someone who is willing to take the reins. Not only do entrepreneurs believe in themselves and their dreams, they also strongly believe in the abilities that lie within others.
4. Hard work. Entrepreneurs are hardworking and shows great willingness to work hard in achieving projects and meeting targets. They have the ability to work shoulder to shoulder with other people and this is one of the strongest personality traits of entrepreneurs. They know when something is valuable and has potential, even before others realize this. And this is what drives them to work harder in birthing their vision.
5. Flexible. Every entrepreneur exhibits flexibility. Remember, an entrepreneurial venture is not simply about doing what you believe is good, but also and necessarily making a successful business out of it. Successful entrepreneurs welcome all suggestions for optimization or customization that has the capacity to enhance their offering and satisfy client and market needs. While it is important that entrepreneurs have a steadfast vision and direction. Still there will be situations where they should be ready to tweak any initial plans and strategies. New and better ways of doing things may come along the way as well. A successful entrepreneur is flexible and easily navigates his/her business in the face of change.
6. Good financial skills. The lifeline of a business enterprise is stable cash flow. Stable cash flow is needed to buy inventory, lay for services, marketing, promotion, replacement and repair of tools and equipment. And also to pay yourself so that you can continue in business. This is the stuff every good entrepreneur is made of the ability to manage money wisely to ensure that the cash keeps closing, as it takes time for any entrepreneurial venture to become profitable, capital is limited and needs to be managed wisely. Successful entrepreneurs plan for present financial obligations and are able to effectively forecast future financial projections and set aside emergency funds. Even after securing funds and going fully operational, a right minded businessperson maintains an absolute handle on cash flow, and give priority to financial discretion.
7. Effective planning. The perfect entrepreneur is a perfect planner. They don’t focus on low-impact decision making. Planning well in advance helps smart entrepreneurs identify and come up with a solution to various problems
8. Discipline. Entrepreneurs understand that the success of their business ultimately rests upon their shoulders, because of this, a smart entrepreneur will take his/her business seriously. They are always focused on making their businesses work, and will eliminate all hindrances or distractions to their goals. They are disciplined enough to take daily steps towards the achievement of set goals and objectives.
9. Confidence. Successful entrepreneurs know when something is valuable, even if no one does yet. And they can explain and prove why they think their product or service is worth the price or investment. An entrepreneur will normally not ask questions about whether they are worthy of success. They are determined and confident they can make their business succeed. And they express this confidence in everything they do, including their physical manifestation.
10. Open-minded. Entrepreneurs realize first hand that every event and situation whether positive or negative is a potential business opportunity. They have the rare ability to look at everything around them and focus it towards their goals. The best entrepreneurs hold and exploit every opportunity and threat as a blessing.
11. Innovative. Entrepreneurs are known for their passion for constantly creating and developing new ideas. Entrepreneurs have the capacity to undertake projects that have never been undertaken, and create products and services according to the changing market demands. They are self-starters. Economic development is closely related with entrepreneurship, through the creation of new ideas, concepts, schemes, wealth. And contributing to employment. The perfect entrepreneur is one who has the ability to build a new business from scratch, usually based on a completely new idea or concept. Smart entrepreneurs always move ahead of the times.
12. Competitive. Any good entrepreneur out there knows that competition is good, and also knows the importance of staying competitive. Competition drives creativity and inspires perseverance. Real entrepreneurs hate to lose. They are obsessed about winning, and they like to work with people who thrive on winning.
13. Determination. Determination and tenacity makes for a sound entrepreneur. What every successful entrepreneur have in common is determination. This is what keeps entrepreneurs searching for the best contracts and deals for their businesses even on the face of pending setbacks and defeat.
    

    CHARACTERISTICS OF A PERFECT ENTREPRENEUR

14. Strong work ethic. A sound entrepreneur will at all times have his/her mind on their business. They will usually be the first to arrive at work and the last one to leave. They are project starters and finishers. Entrepreneurs do more work than the rest of the team. This is evident in their productivity and their result-oriented disposition. They work with enthusiasm and don’t tolerate procrastination. They are true leaders who stand behind their words and actions.
15. Empathy. Empathy is defined as the feeling that you understand and share another person’s experiences and emotions; and the ability to share someone else’s feelings. Because entrepreneurs are surrounded by people who they need to understand, from stakeholders or investors, to employees and customers, they need to demonstrate empathy and sound people’s skills. This helps provide the entrepreneur with insights to run their business optimally.
16. Vision. Vision is the ability to see what others cannot see. It is being able to have a picture in your mind of the exact result you intend to produce. The perfect entrepreneur is a visionary entrepreneur. Every entrepreneur is well aware of the fact that every development and change must first begin with a vision. This includes their financial goals and the clear picture of what kind of business they desire to create in the future. A visionary entrepreneur looks at things in unique ways, he/she is willing to take risks, and do what has never been done before.
17. Selling skills. This is the most important skill every sound entrepreneur possesses. “If you cannot sell you cannot be sold” Ajaero Tony Martins. “The ability to sell is the number one skill in business. If you cannot sell, don’t bother thinking about becoming a business owner”- Robert Kiyosaki.
    Bill Gates became the richest man in the world not because he was a great programmer, but because he possessed the ability to sell. Creativity did not make Steve Jobs rich, selling did. The perfect entrepreneur is not one with great ideas only, but the one with the ability to work customers, suppliers, employees and investors. Selling is the number one duty and number one job of a sound entrepreneur, without which they cannot thrive.
18. Versatility. Entrepreneurs are always open to and excited about new opportunities. This determines the success of their business. Good entrepreneurs can wear many hats at a time. Whole being a specialist is usually more desirable, possessing a vast array of skills, experiences, and abilities is what helps to facilitate entrepreneurial success. The versatility trend in business is becoming more and more apparent. Entrepreneur always keep their options open, and are sensitive to changing trends.
19. Decisive. Successful entrepreneurs know how to take decisive actions despite facing uncertainties. The future of a new business venture is mostly always hazy, a smart entrepreneur can, inspire of this take decisive actions in order to be successful. A good entrepreneur is not obsessed about making mistakes, not can be/she afford to get detailed by the mistakes made in the past.
20. Problem solver. Great entrepreneurs demonstrate creative problem solving skills. They have the capacity to identify problems and match them with the best possible solutions. They are always looking for new ways to improve customer satisfaction
21. Turning weaknesses into opportunities. The finest entrepreneurs hold and exploit every opportunity and weakness as a gift. They build their businesses on the strengths of their people and teams.
22. Excellence. The success of any entrepreneurial venture always comes down to having the right attitude and commitment to a course. Strong entrepreneurs are committed to .making their businesses work and will dedicate a lot of time in building and developing their skills. This kind of dedication and determination has a strong link to the expertise displayed by great entrepreneurs in running their businesses. Entrepreneurs thrive on excellence. They live in the future and always dream big.
23. Leadership skills. Too many entrepreneurs take leadership skills for granted. A smart entrepreneur realizes that without sound leadership skills in place, they may not go far, as even employees may not be so willing to follow you. To make impactful business decisions, leadership skills are imperative. A good entrepreneur will demonstrate expertise in handling demanding situations, while working with others.
24. Enjoy work.
    

    CHARACTERISTICS OF A PERFECT ENTREPRENEUR

    Successful entrepreneurs genuinely enjoy what they do and stick to it. This is easily reflected in the quality of their work. If they don’t enjoy what they are doing, chances are they won’t succeed.

25. Constantly learning. Successful entrepreneurs are always learning, to upgrade their proficiency in skills and areas of expertise they want to develop. They realize that to make what they do the best, they need to invest in themselves.

I hope you find this article really helpful. Perhaps you have a business idea you will like to discuss with us, feel free to call us 08105636015 or 08076359735 or send us a mail on dayohub@gmail.com

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Dayo Adetiloye
(B.Agric, MBA)
08105636015, 08076359735

Serial Entrepreneur - International Business Planning Consultant - Speaker - Trainer - Author - Blogger - Network Marketing professional.

- 2018 SME Business Trainer and Coaching Advisor at GIZ for SME Loop.
- 2018 YALI RLC Online Cohort 9
- 2017 Fellow, Inspire Africa Train-the-Trainer Entrepreneurship programme sponsored by US Consulate Lagos and the Dickey Center, U.S.A.
- 2016 Fellow, Tony Elumelu Foundation Entrepreneurship Programme
- 2015 Top 50 Innovative Entrepreneurs, BET5 by Diamond Bank and EDC, PAU.

He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.

- He is a Certified Trainer in Design Thinking by the U.S Consulate, Lagos and the inspire Africa Entrepreneurship Institute.

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