Characteristics of successful entrepreneurs: Do you have what it takes

Characteristics of successful entrepreneurs: Do you have what it takes


Dhananjay Parkhe

Dhananjay Parkhe

308 week ago — 4 min read

Summary: Are their certain qualities that are universal to all successful entrepreneurs? Is there a secret to the dynamic leadership and business acumen of successful entrepreneurs? Business mentor, Dhananjay Parkhe shares three characteristics of effective business owners.

Starting a business is exciting but entails a lot of hard work. Yet not all entrepreneurs succeed to make a mark in an unforgiving business environment. So, what does it take for an entrepreneur to be successful. Is there any secret to success?

Studies have shown that successful entrepreneurs possess three characteristics:

1. Self-confidence
It is that magical power of having confidence in oneself and in one’s entrepreneurial powers and abilities. Here are a few things to keep in mind for maintaining a higher level of self-confidence.

  • Positive thinking

It all starts with a positive attitude, doesn't it? Believing that something good will happen is the first step. Negative thinking is counterproductive and can in fact be self-sabotaging. You must truly believe that there are no circumstances strong enough to deter you from reaching your goals. Remember too, that positive thinking can be contagious. When positive thinking spreads, it can open doors to new ideas, customers, friends, etc.

  • Persistent action

Now all of the positive thinking and believing in the world is useless if it is not applied towards a goal. You have to take action. This action must also be persistent. Trying once and then giving up is not going to be enough. Keep at it one step at a time. If you can't get by a certain step, then find a creative way to try again or just go around it.

2. Achievement-oriented
Results are gained by focused and sustained effort. Entrepreneurs concentrate on achieving a specific goal, not just accomplishing a string of unrelated tasks.

3. Risk Taker
Entrepreneurs realise that there is a chance of loss inherent in achieving their goals, yet they have the confidence necessary to take calculated risks to achieve their goals.

Entrepreneurs are people who make decisions, take action, and think that they can control their own destinies. They are often motivated by a spirit of independence which leads them to believe that their success depends on raw effort and hard work, not luck.

So which of these three characteristics is the most important? Believe it or not, it has to be self-confidence. Without self-confidence, nothing else is possible. If you don't believe in your abilities, then the first challenge that arises may knock you off the path to achieving your goals.

These are a few traits that are common to most successful entrepreneurs. You should be able to look ahead and see yourself where you want to be. The key is to maintain a strong belief in yourself and your skills, stick with it, and never give up. If you can do that, you're already half way there!

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Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.

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Dhananjay Jay Parkhe

Dhananjay (Jay) Parkhe Global Goodwill Ambassador. Mentor Author Speaker Coach CSR, Advisor, Educator, Independent Director Bengaluru Area, India