July 29, 2008

Characteristics of SUCCESSFUL ENTREPRENEURS

In continuation to my previous article , today we would look into another interesting topic from my current read What Self-Made Millionaires really think,know and do. Due to my association with an early stage startup, the current article on "Successful Entrepreneurial Qualities" looked very much relevant.

Well, I should agree that I could really feel the things during the process of writing this article smile Though, Qualities and Execution may sometimes seem disjoint , it is only when they get married; a successful business is made !!!!

A sense of mission :
Successful entrepreneurs set out to improve the lives of their customers.They do not simply set out to make a big pile of money.They are workaholic and love working hard at something that they love doing.

Self-Belief :
They believe that they will be successful.They expect to be successful.Even when bankrupt, they still believe that one day they will be successful.

Acceptance of responsibility :
Successful entrepreneurs are found to accept responsibility for themselves and not to blame others.

Resolution to pay the price :
Entrepreneurs understand the price that must be paid to achieve their goals, and they resolve to pay the necessary price.

Commitment to success :
Successful entrepreneurs have a 100 percent commitment to becoming successful.They focus and concentrate on their area of excellence.

Judgement :
They are not necessarily clever with words,arithmetic or mechanics.However,they have developed social skills, intelligence and judgement.

The helicopter view :
Entrepreneurs can see the big picture, acticipate trends.They have foresight in that they always look to the future, understanding that the rest of our business lives will be spent in the future.

Leadership skills :
They set goals, have high expectations of themselves & others and listen carefully.They have the ability to draw extraordinary performance from ordinary people.

Excellence in selling :
Entrepreneurs generally are excellent at selling.They focus on benefits to the customer, satisfying customer desires and relieving customer fears.They make excellent presentations and show the product or service in its best light.

Managing time effectively :
They develop the ability to focus on the 20 percent that brings in the 80 percent of success, and delegate the 80 percent to others.

Excellent communications :
Successful entrepreneurs tend to be excellent in private discussions, conducting meetings, giving presentations and submitting reports.

Persistence :
Successful entrepreneurs persist.They understand that it takes time to make it really BIG !!! They are prepared to go the extra mile and do that little bit extra for which they do not get paid.


Related Article
Money - A startup Killer

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12 Comments:

At Jul 31, 2008, 12:50:00 AM , Anonymous Pachi said...

One thing I found it really difficult was - working on the 25,000 feet view(big picture) and drop down and take care of nitty gritty stuff at the same time

 
At Aug 1, 2008, 11:47:00 AM , Anonymous Himanshu Sheth said...

Hey,
@Pachi:
Apology for the late reply.Sure,from the top every idea looks great but only when we start implementing, things look different or should I say QUITE different.

-Himanshu Sheth

 
At Aug 2, 2008, 3:49:00 PM , Blogger Alok said...

Your blog post looks quite thought provoking and I guess you have picked every corners of the life. I believe these points are not only applies to entrepreneurs but also to everyone who want to take their ideas to great heights, needless mentioning they are those successful persons.

have a great weekend.

 
At Aug 3, 2008, 2:36:00 AM , Blogger Satya said...

Thanks, good information !!

Who ever controls technology,
controls world.
Roman emperors ruled the world because they built roads.
Britisher’s ------ built ships
Russians ------ built spaceships
Americans invented Atom bombs and Americans stills rules the world with Information technology.

Study the latest tech news and tips at http://mothertech.blogspot.com/

 
At Aug 4, 2008, 1:23:00 AM , Anonymous Himanshu Sheth said...

Hey,
@Alok:
Thanks for the comment.As you have rightly pointed out, some of the points like Self Belief, Leadership Skills etc. in the article could easily be used in our life[no matter whether a person is an entrepreneur or not].

-Himanshu Sheth

 
At Aug 5, 2008, 11:19:00 AM , Anonymous Himanshu Sheth said...

Hey,
@Satya:
Welcome to my blog :) That was a nice statement "Who ever controls technology,
controls world."

Sure, US guys have always come up with something remarkable, so let's wait and watch if we can come up with something remarkable like Google AdSense etc.

Would definitely visit your blog.

-Himanshu Sheth

 
At Aug 20, 2008, 11:12:00 AM , Blogger Alisha said...

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At Aug 28, 2008, 2:51:00 PM , Blogger epsoriwebmaster said...

What a hoot! Loved reading your blog!

 
At Aug 28, 2008, 6:12:00 PM , Anonymous Himanshu Sheth said...

Hey,
@Webmaster:
Thanks that you liked my blog :)

-Himanshu Sheth

 
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