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5 Common Characteristics of Entrepreneurs:

Afternoon all,

Today I wanted to talk about some common characteristics that Entrepreneurs have, and if you don’t have, have the opportunity to develop them.

1) Do what you enjoy:

If you enjoy what you do it doesn’t feel like work… If you are in a job where you feel that the day drags along, or you feel like you aren’t going any further in life, you are in the wrong field. If you wake up and you are motivated to work and succeed then your job doesn’t feel like work at all. You naturally work harder and create a sense of passion.

2) Take what you do seriously:

What you put in is what you get out, its as simple as that. You cannot expect to succeed in your field if you do not put the effort. You must be motivated to do everything you can to make it better. You must be able to push out the people that don’t agree or believe in you, and always be willing to be on the grindstone, working day and night to be the best you can be.

“If you’re not embarrassed by the first version of your product, you’ve launched too late.” – Reid Hoffman, co-founder of LinkedIn.

3) Plan Everything:

Planning is one of the most important factors, if you are building your empire from home you need to maintain every factor inside and out. You need to be able to analyse every business situation so carefully. Something every business needs to have is a Business Plan, keeping you on track of what needs to be achieved by what date. Don’t be foolish and go with the flow, a successful business takes excessive planning and more planning.

4) Manage money wisely:

The lifeline of any business is cashflow. It needs to be managed effectively and efficiently. In the process of building an empire there are going to be costs you didn’t predict, so always take care of your money. You need to make sure all the money coming into the business and coming out is all managed correctly. This includes everything from the money from clients, to the operating costs like supplies, wages and other items.

5) Remember its all about the customer:

Customers make or break your business, they are the ones buying into your product or service. They need to be happy with what you have to offer. They are the ones that ultimately decide if your business is going to boom or bust. When you develop your business plans for the future you need to make sure the customer is put first. How are you going to please the customer so they come back for more? In addition to this, you need to know your customers inside out, you must be able to say straight away if someone asked you on the spot ‘ Who are your customers?’ Once you know this half the work is done.

“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” – Steve Jobs

Hope you enjoyed this post!

Keep your eyes peeled for part two of this post!

Tweet me @mrjamesvincent or check out my Instagram @james.vincent 

James