Entrepreneur Characters. Successful Business Entrepreneurs Studies have shown that successful business entrepreneurs possess these characteristics.
1. Self-confidence
Entrepreneur Characteristics- This is that magical power of having confidence in oneself and in one’s powers and abilities.
Results are gained by focused and sustained effort. They concentrate on achieving a specific goal, not just accomplishing a string of unrelated tasks.
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They realize 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.
Business entrepreneurs are people who will 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 main 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.
Here are a few things to keep in mind for maintaining a higher level of self-confidence.
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Well, it all starts with a positive attitude, doesn’t it? Believing that something good will happen is the first step. Negative thinking simply is not allowed. 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.
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, no excuses are allowed. 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.
At the beginning of this article we identified a few traits that are common among successful business entrepreneurs. You should be able to look ahead and see yourself where you want to be.
Now just maintain a strong belief in yourself and your skills, stick with it, and don’t give up. If you can do that, you’re already half way there!
“Jones was a typical entrepreneur who worked long hours and wore many hats.
“The problem was that all the hats screamed for attention. Jones solved the problem by wearing the hat that screamed the loudest.
“Unfortunately, this was only a temporary solution since all the hats kept screaming until they were worn.
“There was, however, one hat that never screamed. It never complained, whined or whimpered, even though it was lonely. It knew it was important, whether or not it was worn. That hat was right.
“One day the customers quit coming. The other hats became quiet; they no longer were needed. It was then that Jones noticed the hat named Marketing and how little it had been worn.
“‘Why didn’t I wear the Marketing hat?’ thought Jones.
“For one thing, Marketing hadn’t screamed for attention like the other hats. The other reason was that Jones was afraid the Marketing hat was too expensive to wear and would drain profits.
“But now there were no profits; the customers were gone.
“Jones put on the Marketing hat. It was time to get the old customers back, and to get new customers, too. It was time to wear the Marketing hat regularly.
“Even the other hats perked up.”
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As people from all cultures began to arrive in The United States of America, their dreams have been to have an idea, start a business and become wealthy in the process.
This movement continues to draw people in from all cultures to The USA, and all these folks are here to share one common goal; an improved way of life. The opportunity to own a new business and be successful has always been, and always will be, the American Dream.
In The United States of America today, more folks than ever before are realizing their dreams of financial independence since being the owner of a successful business, by today’s criterion, is more easily accomplished than ever before.
A lot of these fortunate individuals acquire financial freedom as owners of franchised businesses. Franchises offer the greatest opportunity to own a successful business for people interested in business ownership for the first time because franchises are based on a proven system.
There are various reasons why franchising is the most effective type of operation for first time businesspeople.
As a franchise owner, you will not be needed to come up with a business plan; the franchisor has already done that for you. You will gain all the benefits of a proven system, training and ongoing support and reap the monetary rewards.
How can a franchise opportunity give you a lifestyle of financial independence? Seventy five percent of people who have extreme wealth in America have a business- this indicates that your best shot at being wealthy is by having your own business.
Starting a business from scratch, however, can be very risky and a complicated process involving a lot of time, resources and money. And new businesses do not always succeed.
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The rate at which new businesses succeed is quite low, probably due to bad planning and not having a tight hold on expenditures. being the owner of a franchised business offers far less risk than Owning an independently run business and offers all of the same advantages, if not more, of an independent business.
Being the owner of a franchise takes away from the responsibility of having to draw up a business plan and puts you on the road to success promptly.
After evaluating different options you made a final decision to purchase a franchise, congratulations! You have made a decision to purchase the rights to sell goods or services from an established brand-name company with a proven business plan, training and ongoing support.
Soon you will be on the road to financial independence. There are steps, however, that must be taken to insure that everything goes smoothly – from researching the right franchise to the opening of your new business. The most important being researching the right franchise opportunity.
Not every franchise is a guarantee of success. Franchise opportunities come in many flavors, each one as unique as an individual. To find a franchise business that meets all your needs, research different companies for the one that best suits your personality, skills and interests.
Suppose that an individual with 15 years of financial planning experience decides to purchase a franchise. That person researches different franchising options and chooses to purchase a business income opportunity.
Does this individual have the potential to make this business successful? Absolutely! Under different circumstances and disregarding the success rate of franchises in general, if that individual were to pursue a career as a restaurant franchise owner he/she may feel misplaced in that particular line of work.
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Choosing a business in which you have shown know-how can be an immense advantage in franchising. The point is that it’s necessary to select a franchise that matches your character and expertise. When those conditions are met, you’ll have a far greater opportunity at being successful.
Before you settle on any franchise, you will want take your research to the next level and gather as much information as possible on the company that appeals to you. Do the right research! Just because a franchise has been successful in other areas does not mean it will have the same success in your area.
Get contact information and talk to current franchisees operating in territories with the same demographics as the area in which you will be operating. Existing franchisees are your best source of information for finding out what really happens in a business on a day-to-day basis.
A franchised business is like running any small business – you need capital. Building the right budget will allow you to incorporate a realistic cash-flow plan. The initial franchise fee will have the biggest impact on your finances.
You need to have enough capital for the initial fee and enough to carry you through the first couple of months after opening the doors to your franchise.
The most successful franchisees are known to take a less formal and more relaxed approach to selling.
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Successful franchisees genuinely enjoy talking to strangers and get involved in community events to find new ways of promoting their small business. although franchisees are often provided with standard corporate advertising programs and national exposure for the chain, being involved in the community and being perceived as part of the local family helps keep customers loyal.
Franchises influence the American economy beyond what was ever thought possible. As a matter of fact, the IFA estimates that franchising has had a $1.5 trillion impact on the U.S. economy.
Owning a franchise is an amazing opportunity that comes with many wonderful benefits, but you must be very dedicated to your new business. Make sure you know what it takes to succeed and that you possess those qualities.
After having their first car of ore shipped to a smelter, they discovered they had hit one of the richest bodies of gold in Colorado. Excitedly, they continued digging, but the ore vein disappeared.
They kept digging in the hopes of finding the vein again, but when they didn’t get the results they were hoping for, they packed it in and sold off their machinery.
The man who bought the machinery realized random digging was not the best way to find the vein. He called in a mining engineer and had him make some calculations.
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What contributed to the failure of Darby and his uncle was their lack of knowledge about “fault lines” and their neglect to consider alternatives. With his expert knowledge, the engineer was able to predict that the vein of gold could be found three feet from where the Darby’s quit digging, and that’s exactly where it was.
Millions of dollars worth of gold were pulled from the mine by the man who decided to not accept easy defeat, and to bring in someone else who had specialized knowledge he didn’t.
The lesson here is that success is often just beyond what seems to be your greatest obstacle. Welcome failure and use it as a measuring stick. When you’re defeated, look for the lesson. What do you need to change in your approach, your mindset, your environment?
Using a modern day example, I’ve been working with a personal trainer for several months. During our first few sessions, she was asking me to do what I thought was completely unrealistic.
I was pushing mediocre weights and because I’m a small build, I thought “small results” were the best I could expect to create. When she asked me to lift 50 pounds doing calf raises, I grunted and groaned and told her it wasn’t possible. After four reps I wanted to stop and she said, “If you can do four, you can do six two more!”
With the leg press, my first week she had me up to 100 pounds. I thought I was going to pop all the veins in my head and asked her if she went to sadistic school.
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She eventually stopped telling me what weight she was setting the machines at and continued to increase the weights and the reps. I didn’t have a clue and said to her after two weeks, “Ha! 50 pound calf raises are a piece of cake, let’s up that weight.”
She then said to me, “Laurie, you’ve been lifting 80 pounds for the last two sessions.”
She also had me leg pressing 180 pounds in the third week without my knowing.
By the fourth week I had doubled my calf raise weight to 100 pounds and leg press to 200. She had done the same with my upper body exercises and I was lifting weights I never would have allowed myself to attempt.
I would have allowed temporary defeat and a limited mindset keep me at the level I had set for myself. She thought bigger and taught me techniques that allowed me to push harder, lift heavier and grow stronger.
I translated this lesson across to my business thinking and ask that you consider it as well.
The only limits are those you create in your mind. Defeat is merely a produced result. Measure the result, change your approach and continue in your efforts.
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