Do any of these names ring a bell: Bill Gates (Microsoft), Michael Dell (Dell Computer), Larry Ellison (Oracle), Ted Turner (AOL-Time Warner)? How about Phil Knight (Nike), Vince McMahon (WWF), Rupert Murdoch (News Corporation), and Steve Jobs (Apple Computer)?
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What all of these men have in common is that they are successful entrepreneurs. They are some of the most successful entrepreneurs of our era. They have built their respective companies from small businesses into international powerhouses. They may have different styles, but they are all cut from the same cloth. They are the go-getters who don't take "no" for an answer and believe everything is possible.
If we take a closer look at these tremendously wealthy self-made men, we'll find that they all share certain characteristics. In fact, they share many of the same characteristics as most other entrepreneurs. It doesn't matter if their businesses earn $10 billion or $100,000 annually; entrepreneurs tend to share certain character traits.
Do you have what it takes?
In today's society, the entrepreneur has become somewhat of a hero. He is the lone crusader fighting against the established order to help improve society and make money in the process. He accepts the risks inherent in the game, and the rewards when they come.
If you are on the road to riches and want to become a self-made man, then entrepreneurship is the way to go. Unfortunately, not everyone has what it takes to be an entrepreneur. You can learn of course, but you need to have that fire in your belly if you hope to achieve success.
The key to success
Ask any successful capitalist what the key to their success has been and you are likely to get "hard work" as the response. It is no secret that hard work, plain and simple, is the engine that drives success. Of course, a good idea, solid plan and flawless execution help, but it all boils down to putting in the time and effort to make your dreams come true.
So what is it that makes a man a successful entrepreneur? Do you have those special characteristics that could earn you a fortune?
Entrepreneurs are a very particular bunch. They usually don't fit a common mold. When they look at the world around them, they do not dwell on how things are. Rather, they focus on how they can transform things into how they want them to be, as well as how they can make a profit in the process. Here are some of the characteristics of a successful entrepreneur. Do you possess any of these traits?
1. Self-Starter
Being an entrepreneur entails initiating something. Entrepreneurs see an opportunity to make money and seize it, and start a business.
2. Enjoys big challenges
Entrepreneurs like challenges. They like to push the limits and test themselves against the world. The thrill of beating a challenge is just as rewarding as the profit that follows.
3. Does not quit
Real entrepreneurs never give up. If they fail, they regard it as nothing more than a temporary setback. They go back to the drawing board, fix their plan and try again. Most successes only come after many failures.
4. Desire to succed
Starting a business is risky. Entrepreneurs cannot stand the idea of living an uneventful life. They need to be challenged and succeed. They have a genuine appetite for success.
5. Creative
Entrepreneurs are usually very creative people. Creative here refers to the ability to see a business evolve where nothing existed beforehand. They can spot an opportunity and work to profit from their observation.
6. Hard-working
Entrepreneurs are always hard-working people. Running a business is not a walk in the park. Ultimately, they must put in the hours to get the job done and make sure that the business achieves its full potential.
7. Flexible
Entrepreneurs wear many hats. If there is a problem, they simply can't call up Herb from Legal or their VP of Marketing for a solution. They usually need to figure things out on their own and get all aspects of the business running single-handedly, at least in the beginning. A first-rate entrepreneur also knows when it's time to bring in additional managers to help with the business.
8. Competitive
The world of business is the ultimate shark tank. In our capitalist society you are either the hunter or the prey. Thus, entrepreneurs like to compete with others. They relish the opportunity to measure wits with others and come out on top.
9. Independent
A big driver to starting one's own business is the desire to work for oneself. Entrepreneurs are notorious for this characteristic. They generally hate having a boss and having to report to someone else. They want to call the shots and make their own "destiny."
10. Success-oriented
Entrepreneurs are driven by success. That is, they don't imagine failing, only thriving. Sound obvious? It isn't. If you fell in the water and could not swim, would you think, "I'm a dead man, I may die here," or would such a thought never cross your mind because you were focusing every ounce of your energy on "swimming" to shore? You'd be surprised at how many people think negatively first.
Now that you know what makes a successful entrepreneur, get off your butts and start making some money. Life is short!
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