Four characteristics every successful entrepreneur possesses
Google “what does it take to be an entrepreneur” and you’ll get 62,900,000 results. It seems that everybody has an opinion. But if you delve deeper, certain key elements begin to surface.
The first is that the entrepreneur has to be opportunistic. I prefer to call it being a visionary. They are always looking for a societal need for a product or service. The product or service can be new or an improvement on something existing.
The entrepreneur must have a passion about what they want to do. Their belief has to be so strong that it becomes infectious to others. Passion is the motor driving the entrepreneur and like a speeding train difficult to deter.
Hand in hand with passion is self-confidence. The belief in one’s self that they CAN do this. Entrepreneurship is not a hill, it’s a mountain. It will take a team to get to the summit. Employees will follow a passionate, self-confident leader.
Entrepreneurs are dedicated. They work harder than they would at any job. They work longer hours than they would at any job. But the rewards can be greater both financially and in the self satisfaction of what they have achieved for both themselves and others. Just take a look at the recent study from the Rouen Business School in France that offers a counter intuitive insight in that workaholism has a positive impact on the wellbeing of individuals. Entrepreneurs fall in this category. They are compelled and energized by their work and feel good when succeeding. These are not the only characteristics the entrepreneur needs to have but they seem to surface first. They can be found in all of the well-known ones listed here.
Cameron Johnson made his first million before graduating high school. He started his first business when he was nine years old selling his sister’s Beanie Babies on the Internet. Just three years later he made $50,000 and by 15, his company generated $15,000 per day in revenue.
Michael Dell. With $1,000, dedication and desire, Michael Dell dropped out of college at age 19 to start PC’s Limited, later named Dell, Inc. Dell became the most profitable PC manufacturer in the world. In 1996, The Michael and Susan Dell Foundation offered a $50 million grant to The University of Texas at Austin to be used for children’s health and education in the city.
Debbi Fields. As a young, 20-year-old housewife lacking business experience, Debbi Fields started Mrs. Fields Chocolate Chippery. With a recipe for chocolate chip cookies, this young woman became the most successful cookie company owner. She later renamed, franchised, then sold Mrs. Field’s Cookies.
Rachael Ray. Despite not having formal training in culinary arts, Rachel Ray is a legend in the food industry. With numerous shows on The Food Network, a talk show and cookbooks, high-energy Rachael doesn’t slow down. She has also appeared in magazines as well has having her own magazine debut in 2006. She knew she was a success when a website dedicated to bashing her was created.
Guy Laliberté. CEO and founder of Cirque du Soleil became a street performer after high school. He obtained a grant from the Canadian Government and set up Cirque du Soleil as a one year project. Today it is an international organization that employs approximately 4,000 people and has estimated annual revenues exceeding $810 million..
The entrepreneurs of today will be on tomorrow’s list. Take a look at some local stars .