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9 characteristics of a successful entrepreneur

The key characteristics of a successful entrepreneur are surprisingly common

Willing to work hard no matter what the circumstances may be, entrepreneurs understand that this tenacity and sheet effort puts them ahead of the competition. Having resilience in the face of adversity and never giving up are traits that give these people the edge.

New York’s, Michael Bloomberg made his way to the top as a billionaire entrepreneur. He believes that working hard creates opportunities and the harder you work the luckier you become. You create your own success by being persistent.

Over analysis paralysis is what stops most people from getting started on the road to entrepreneurial achievement. By getting started you get ahead. Taking risks and turning failures into opportunities is a common asset that turns a person into a successful entrepreneur. By not avoiding failure, they create learning opportunities for growth, development and build a competitive edge.

Bloomberg was fired from his job. The following day he started his own company using the skills and knowledge he had acquired from working in his last position. He took a huge risk using an unproven idea that almost everyone said would fail.

Self-assurance, self-promotion and being an expert in the field are essential attributes in achieving success. Offering solutions to problems and providing expertise results attracts a loyal audience. Successful entrepreneurs will discover a target market and build trust by connecting with their audience. The key lies in promoting ideas and solving challenges when problems arise for their target market.

Bloomberg focused upon his target audience at Merrill Lynch relentlessly for three years. He built relationships and invested a great deal of time in understanding the market. He offered solutions to their problems and Merrill Lynch eventually became Bloomberg LP’s first customer. Confidence, persistence and determination are what drive entrepreneurs to become leaders.

Always learning, evaluating and improving are the basis of successful entrepreneurship. Evolving to keep up with the marketplace and never standing still drives growth and creates new opportunities. Bloomberg advocates being a lifelong student and avoiding ever becoming someone who thinks they know it all. If you meet one of these people he advises not to listen and never accept the answer no. Find a way.

Passion is inexorably associated with strong entrepreneurship. Truly believing in an idea is a prerequisite to gaining a footing on the entrepreneurial ladder.

The following key traits are widely held to be prerequisites for entrepreneurial success:

– Hard working
– Creating your own luck
– Taking risks
– Being persistent
– Never giving up
– Knowing your audience
– Building relationships
– Always learning
– Being passionate

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