Successful Entrepreneur - Today's Entrepreneur Characteristics

What type of entrepreneur are you? Over the years I have had the opportunity to work with many business owners and entrepreneurs. It is very obvious that there are a number of different types of entrepreneurs.  They all have different entrepreneur characteristics that make an entrepreneur successful.

Here are the top ten types of entrepreneurs today

1.     They are terrific job creators. They carry more economic weight because entrepreneurs successful generate many more jobs.

2.     They are passionate about their customers, their products and services, a master of 500 hats.

3.     Famous entrepreneur Richard Branson has always said; entrepreneurs and adventurers are very similar.

4.      Entrepreneurs always have unique ways of raising money.

5.     Successful entrepreneurs are great donors to charitable causes and institutions. In a recent report they are among the most-generous donors, giving 25 percent more on average to charitable causes than other wealthy people.

6.      Creative entrepreneur successful to accomplish what large corporations cannot.

7.      They continue to be a source of inspiration to anyone out there with a start-up dream.

8.      Today's entrepreneurs are prepared to take calculated risks. They clearly adept at risk assessment and risk management.

9.      Today's young entrepreneurs are very adept at learning and applying just the right amount of research and work to get the job done and still be the head of their field.

10. Social entrepreneur characteristics provide meaningful and much-needed social change touching on all aspects of our lives from education and health care to the environment and community development.

Some very important key factors for any entrepreneur successful are to have a solid business plan and to constantly be willing to make changes to his/her business plan to grow their business. Every day more and more entrepreneurs are building extremely successful businesses using the internet. Entrepreneurs know that doing business online is a great way to make money but knowing how the industry works is just as important and building on that knowledge is the only way to succeed.

For more information on entrepreneur successful tactics and entrepreneur characteristics please visit: http://www.famousentrepreneurs.org/. Receive the Famous Entrepreneurs Newsletter, FREE.

12 Traits of Highly Successful Entrepreneurs

What are the traits of successful entrepreneurs that set them apart from everyone else? What trait do entrepreneurs like Bill Gates, Steve Jobs, Lawrence Ellison and Richard Branson have that the ordinary entrepreneurs don't? All these questions are going to be answered in this article.

After understudying the lives of these great entrepreneurs, I was able to pinpoint 12 traits that make them successful. Without wasting your time, below are the 12 traits of successful entrepreneurs:

1. Successful Entrepreneurs are proactive learners

Entrepreneurship is a life long process and successful entrepreneurs know this. Things change so fast in the business world; you could be an innovation today and become obsolete tomorrow. To stay on course and adapt swiftly to the ever changing trend, they keep studying and learning.

They read industrial journals, books and magazines. They attend seminars and update themselves regularly with the latest industrial trend. Successful entrepreneurs know that their cup is never full; they know that they don't have the right answers to all questions. So they humble themselves and learn when availed the opportunity.

2. They thrive on risk

I have never seen a successful entrepreneur who rose to the pinnacle of success without a measurable amount of risk. Successful entrepreneurs are risk takers; they risk their time, energy and resources with the hope of building a strong business. If they fail, they risk losing everything they've ever owned. Risk is the main reason many employees fail to start a business.

3. They work for free

Working for free is one of the traits of successful entrepreneurs that set them apart from others. It's hard to find individuals who will be willing to work for free, without pay for many years but successful entrepreneurs do this. They work on their business for many years without pay.

Being an entrepreneur, I can attest to this trait because i have built businesses without getting a dime from them for some years. All profits generated are re-invested into the business. To be a successful entrepreneur, you must always bear in mind that you are not building a job for monthly pay. Instead, you are building an asset that can generate residual income for you and add value to humanity in the coming years.

4. They work longer hours than employees

Successful entrepreneurs are known for their extraordinary resilience and long standing commitment to the course of building a business. Building a business is never easy and it requires time and dedication. Some entrepreneurs are known to work for 70 - 80 hours per week while average employees work less than that.

So if you are going to join their league, then you definitely need to develop the trait of working longer hours than normal.

5. They learn quickly from mistakes

Of all the traits of successful entrepreneurs, this one interests me the most. Many individuals shy away from the game of entrepreneurship because of the fear of making mistakes. They perceive mistakes as bad because mistakes sometimes cost money and pain; so they avoid it like a plague. But great entrepreneurs see mistakes as a learning tool; they see it as an opportunity to learn something new.

"Even a mistake may turn out to be the one thing necessary to a worthwhile achievement." - Henry Ford

They make mistakes in business but they don't quit. They know mistakes are part of the process of entrepreneurship, so they learn quickly from these mistakes and move on.

"Excuses cost a dime and that's why the poor can afford a lot of it." - Robert kiyosaki

6. They have the ability to run on debt

As a rule of life, we are all indebted to someone in one way or the other. With respect to building a business, i have never seen a successful entrepreneur that hasn't been in debt. Everyone owes but these set of entrepreneurs know how to use debt to their advantage, they know how to use debt as an instrument and leverage to build a business and get richer.

"Be careful when you take on debt. If you take on debt personally, make sure it is small. If you take on large debt, make sure someone else is paying for it." - Rich Dad

7. They are accountable and responsible

Successful entrepreneurs are accountable and responsible for the failure or success of business. They shoulder the responsibility of piloting the business through its trying times. If they succeed, it becomes a plus to them but if they fail, they will be held responsible.

8. They thrive on criticism

Another trait successful entrepreneurs share in common is the ability to forge ahead in the face of criticism. Building a business comes with its own challenges; as the entrepreneur, you are bound to be loved and hated by the public. But they always devise a means to use every bit of criticism to make themselves better and stronger.

"When everything seems to be going against you, remember that the airplane takes off against the wind, not with it." Henry Ford

"Sometimes, i think my most important job as a CEO is to listen for bad news. If you don't act on it, your people will eventually stop bringing bad news to your attention and that is the beginning of the end." - Bill Gates

9. They are ambitious

Ambition is one of the traits of successful entrepreneurs. Successful entrepreneurs think big and do things big. They are never satisfied with their current achievement; they believe there is always room for constant improvement and they go for it.

Take a look at Mukesh Ambani's achievement in building Reliance Group; the world's largest refinery. Lakshmi Mittal built Mittal Steel, the world's largest steel producer. Look at Larry Ellison's ambition to surmount Microsoft. In generality, entrepreneurs are very ambitious personalities.

10. They are opportunist

This is another trait of successful entrepreneurs. They share a common ability to see opportunities, where others see problems. They know that behind every problem lies an opportunity. Great entrepreneurs are the drivers of creativity and innovation.

"The way to make money is to buy when blood is running in the streets." - John D. Rockefeller

11. They are great leaders

Successful entrepreneurs are great leaders with a proven leadership strategy. They possess the ability to bring out the best in their employees. They inspire creativity and foster innovation. They also have the ability to hire and lead smarter individuals.

"Good leadership consists of showing average people how to do the work of superior people." - John D. Rockefeller

12. Successful entrepreneurs are team players

"I want to start my own business," 'I want to be my own boss,' 'I want to do this my own way.' These are the words I often hear from would be entrepreneurs. Successful entrepreneurs know that entrepreneurship and investing are team sports. So therefore; they never work alone, they join forces with other entrepreneurs and professional advisers to build a stronger business.

"Go to the wolf, consider its ways and be wise. A wolf will never hunt alone; it hunts in packs because it knows the power of team work." - Ajaero Tony Martins

In conclusion, these are the 12 traits of successful entrepreneurs which you must possess to succeed. These entrepreneurs were not born with these traits, they developed them over time. You can also develop these traits if only you are willing.

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How to Become a Successful Online Entrepreneur

There is no doubt that many people would like to know exactly how to become a successful online entrepreneur.

For a start let us take a look at the dictionary definition of entrepreneur. I think we need to be clear about what exactly an entrepreneur is before going any further.

Cambridge dictionaries online define an entrepreneur as

Someone who starts their own business, especially when this involves risks

So there is no confusion here. It is very clear. If you start your own business you are an entrepreneur but it does seem to have to also include an element of risk.

You could argue that any new business involves risk and that is certainly true, but successful entrepreneurs are willing to take much greater risks than your average new business starter

How exactly do you become a successful entrepreneur?

Well that has to be the million dollar question. If there were a prescribed and reliable formula, we would all be multi millionaires. There would be no risk and so paradoxically, perhaps no more entrepreneurs!

There are certain characteristics that successful entrepreneurs seem to possess, such as absolute dedication.

So what drives an entrepreneur and what makes them different to most other people? What is their vision compared to mere mortals?

For certain there are a number of qualities they all share and without them, they would probably not be entrepreneurs

Entrepreneurial qualities

You could say that any person willing to work hard at their own business is an entrepreneur but it has to be more than that. Many people try unsuccessfully to make it on their own, and many, in fact most fail, often just giving up because their efforts do not produce the hoped for results quickly enough

The true entrepreneur is remorseless in the pursuit of their goal. It is as much about achievement as it is about money but the money, as you might guess, is the real sign of success.

Entrepreneurial ism has making money at its heart and the means to this is almost incidental.

You could sum up the major qualities of a successful entrepreneur as follows

A successful entrepreneur thinks outside the box and is never satisfied with mediocrity in any part of their life.

A successful entrepreneur is not necessarily obsessive, but is extremely highly motivated and committed to achieving their goal.

The journey will be determined by its likelihood of success, not because it is enjoyable or laudable (although it might be either or both). Ultimately the enjoyment is in the success.

All successful entrepreneurs leverage the efforts of others. This is a good and beneficial thing as long as it does not involve exploitation.

No obstacle (short of death maybe) is too difficult to overcome. Where there is a will, there is a way. It is all in the mindset!

There is no giving up even when the way is fraught with setbacks. Expect them.

The successful entrepreneur will do whatever it takes to reach the goal even if it means starting again.

The successful entrepreneur must be able to handle both risk and stress. If not, burn out is extremely likely.

So where does that leave you?

It seems clear that the entrepreneur is a special breed

Is it your intention to become one or are you already an entrepreneur?

Do you think you have at least some of the above qualities? You will probably need them all unless you just happen to get lucky in some way.

Are you or have you already been successful? This will help.

The new Entrepreneur

I believe a new breed of entrepreneur is emerging. They have all the necessary qualities of determination but are of a different mindset and they want success quickly. Most of their business is conducted online often utilising powerful software and the opportunities provided by Web 2.0 (at least at the time of writing)

But it is not just about making money for many of them. Many are also dedicated to helping others and often set up and fund special projects to achieve this. This is not a show of wealth but a genuine act of benevolence.

With this in mind, perhaps there is a further quality we should be adding to our list of what it takes to become a successful entrepreneur.

Sharing success with others, and especially with those whose lives are deprived or impoverished in comparison to our own.

The new successful entrepreneur is most likely an online operator because it is more than possible to have a great deal of success, even just working from home.

The risks are much smaller working online and it is a relatively inexpensive start-up compared to most traditional businesses.

The secret of how to become a successful online entrepreneur is quite simple. You need a proven system that can easily and quickly be tapped into where all the hard work has already been done for you. You just buy into the ride.

There are many offers available but the best solution has to be a top tier, high ticket, business in a box, with a minimum commission of around $1000 (one thousand dollars).

I would not involve myself in any other kind of business. Why bother when it takes no more effort to make a thousand dollars than it does to make a hundred.

Article related website: TheMillionDollarGamePlan [http://www.mikefordham.com]

About the Author: Mike Fordham is a freelance writer, Internet marketer and musician/song writer.

Based in the uk his interests are Business and Abundance, Music and the pursuit of 'The Truth' in all things.

Are You Going To Be A Successful Entrepreneur?

How do you know whether you can be a successful entrepreneur, or if you are better off as a salaried employee? Everyone has bad days at work, when they start to fantasize about how great it would be to be their own boss. But before you make any drastic moves, it is wise to do a bit of self reflection to determine if this is really something you'll be naturally suited for. Although there isn't a tried and true formula for success, studies have shown that successful entrepreneurs share many common characteristics. Do you possess any of these personality traits? Many of them? If so, you may be a natural entrepreneur, a person who is inherently better suited for owning your own business than working for someone else.

Owning and running a business is a creative, challenging and highly rewarding way to become your own boss and chart your own future. It's about creating and finding a better way to do things, offering customers a new choice that is of value to them. In addition to making your own living, it is also about providing opportunities to help others advance as well, whether it is through job creation or simply by hiring other contractor firms. Ultimately you want to create a business that you run, instead of it running you, and hopefully it will make you a nice little fortune in the process. It takes courage, determination and foresight to decide to become an entrepreneur. Leaving the relatively safe corporate world, where paychecks arrive regularly, and benefits are guaranteed, you will be venturing into the uncharted territories of business and it can be a daunting adventure, but if you've got what it takes, it can be the best challenge you ever face. I have met many people who have made this decision without really thinking through all of the long term implications or really what their long term goals are for the venture, and the ideal role that they would play in the company. I can tell you from experience that you will be able to achieve far greater results in your business more quickly if you take the time early on to determine what characteristics you possess that will be your entrepreneurial strengths and where any weaknesses may lie so you can be aware of them and hire and outsource to bolster them.

While there is no recipe for success, most successful entrepreneurs share many common characteristics. To determine whether you can be a successful entrepreneur, or if you are better off to work for somebody else, see if any of these sound like you:

1. Big dreams. To attain the kind of success that you want, you need to dream big. Every success story starts with big dreams. You don't hear Oprah saying that she wanted to just pay the rent and get by. She had big dreams. If you're going to be a successful entrepreneur you need to have big dreams for yourself. Just making enough to pay the bills or getting a few customers is not enough of an aspiration to fuel you forward. Make no mistake; this journey will not be an easy haul, so you really need one heck of a carrot out there to motivate yourself to keep pushing. Similarly, success is not achieved in a vacuum; your dream needs to not only inspire you it needs to inspire others as well. Your dream should be something that others will believe in, see as worthwhile and want to support. Your dream needs to include being wealthy or famous but it definitely should center on being fulfilled. Do not enter this race to be just another runner, but do not feel that you need to be the winner or else your efforts will be in vain. Many small companies have done a great job at providing a unique value to a select niche market that has lead to great results for them. These companies have made an impact on targeted people and on businesses, communities or organizations. They didn't just sell something; they made a difference, caused change, made things better, easier, faster, more effective or made something never possible before, possible.

2. Clarity and vision. You need to have a clear vision of what you want to achieve. Along with dreaming big you should actively visualize success in your mind so that you can almost feel it, touch it or see that it is within your reach. You should play this image back at every opportunity. What does it feel to triple your current income? How will your life change? What will your business look like if you achieved the million-dollar mark? It is not enough to just think that you can wait and see what happens. You must be able to see what happens before it does happen, that is how you make it happen. Successful entrepreneurs possess an attitude of openness and faith that they can have what they want if they can simply envision it as the first step on the path of action to acquiring it.

3. Passion for what you do. As an entrepreneur you started a business to change your life, to create something better, something more. You saw a need, an opportunity. To attain this change successfully, you need to develop or uncover an intense, personal passion to change the way things are. A passionate person lives life to the fullest, has a lot of energy to give, and their passion inspires others and that passion sells. It is not enough to just have a good product or service, you must have passion. Success comes easily if you have a great love of what you do. Why is that? Because we are more relentless in our pursuit of goals about things that we love. If you hate your job right now, do you think you will ever be successful at it? Never. You may trudge along, even become competent at the tasks, but you will never be a great success at it. You will achieve peak performance and do what you have to do to succeed only if you are doing something that interests you or something that you care deeply about. Entrepreneurs who succeed do not mind the fact that they are putting in 18 hours a day in their business because they absolutely love what they do and they believe in their mission.

4. Openness to new knowledge. You don't need a degree in business to succeed at your own business. Studies show that most self-made millionaires have average intelligence. Nonetheless, these people reached their full potential and achieved their financial and personal goals in business because they were willing to learn. To succeed, you must be willing to ask questions, remain curious and open to new knowledge. This willingness to learn becomes more crucial given the rapid changes in technologies and ways of doing business and those that are open to change based on knowledge are the ones that have the best chance of being successful. Become a student of business best practices. You will want to learn about other businesses and strategies that have worked and see if you can adopt them to your business. Sticking with what you know because it's all you know is never the best option. As soon as someone decides he knows it all, it is all over. There is a wealth of knowledge out there; those who find the knowledge that will best serve them and then put it to work are those who reap great rewards.

5. Health and high energy. I mentioned long hours before. It is not uncommon for entrepreneurs to put in two normal work days for every one weekday as well as spend time on the weekends in their business, especially in the first two years. In addition to mental dedication, this takes physical stamina as well. You need to be able to put this kind of extra stress on your body without it taking a toll on your health or on your personal life. Maintaining a healthy diet and exercise regime are highly recommended because they will strengthen your body and your mind to enable you to deal with this better. Many successful entrepreneurs say that they don't need very much sleep. They are fine with four or five hours a night and wake up full of energy. As a small business you are not going to have a huge marketing budget or the best of anything from a resource standpoint, so you need to make up for this lack with your high energy level. People love energetic people and they tend to make natural assumptions about their success level, their intelligence and their competence based on this energy.

6. Persistence and faith. The people who say that the road to success is easy are forgetting the drive it took to get them there. Even with all the hard work and good intentions imaginable many entrepreneurs will fail. Some successful entrepreneurs suffered setbacks and defeats and even bankruptcy, but they managed to stand up again and make it big in their fields. The courage to persist in the face of adversity and ability to bounce back after a temporary disappointment will assure your success. An entrepreneur must learn how to pick up and start all over again. Persistence is the measure of the belief in yourself and if you persist you can succeed.

7. Discipline. Self-discipline is the key to success. You should be getting into work routines and forcing yourself to stick to those routines. If you are going to be a successful entrepreneur you have to have self-discipline. It cannot be a thing that you strive for and think about. It must be a part of who you are and how you operate. Going the extra mile for your business is not just a bonus it is a necessity for a successful business and successful entrepreneurs know it.

8. Self confidence and optimism. Successful entrepreneurs know that they are going to be successful. They refuse to have let the possibility of failure enter into their minds. They don't see setbacks and think that they are on the road to closing their business and giving up. As an entrepreneur, you need to fully believe in your goals, and that you can do it even in the face of adversity. You should have a strong conviction in your business, in your capabilities and in yourself. You must believe beyond a shadow of a doubt that you have the ability to succeed and not let that belief be shaken. The more you can develop faith in your ability to achieve your goals, the more rapidly you can attain it. However, your confidence should be balanced with calculated risks that you need to take to achieve greater rewards. Blustering forward with full confidence but without thinking through all of the risks is not the mark of a successful entrepreneur. Successful entrepreneurs calculate risks and take setbacks as lessons learned that will not be repeated.

Becoming a successful entrepreneur is hard work. It takes time and effort and a certain drive, but it can be one of the most rewarding and best things you do in life. Achieving your long term business goals will require energy and endurance. Commitment is what will keep you on task and having a flourishing business is the end reward for that work. For more information about how becoming a successful entrepreneur, visit http://www.flourishingbusiness.com.

Elizabeth W. Gordon, founder and President of The Flourishing Business, LLC, is a visionary leader who has a passion for helping others achieve their entrepreneurial dreams and enjoy more of the best in life. With a vast and diverse background in many business arenas, Elizabeth regularly has the opportunity to share her business acumen with clients, large and small. She currently serves on the Board of Directors of the National Association of Women Business Owners (NAWBO), Atlanta and the Board of Directors of the American Association of University Women (AAUW) Atlanta. She is an Accredited Executive Associate of the Institute for Independent Business (IIB) and a certified Life Coach.