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Characteristics of a successful entrepreneur

Updated: Jun 28, 2023

What is an entrepreneur?

Entrepreneurs have an idea or a vision and turn it into an actual business, sometimes with help from various support agencies.

What are the characteristics of a successful entrepreneur?

Successful entrepreneurs are good at planning

  • They are good at thinking about possible future problems and putting things in place to deal with problems if they arise.

  • They can deal with changes that may happen and change their plans to suit and benefit the business.

  • They are creative and are willing to take risks and create a plan to do things differently.

  • They carry out research as part of their planning for new trends, demands, expectations of their customers.

Successful entrepreneurs have good leadership skills

  • They lead by example and work with a commitment and dedication they expect their employees to work at.

  • They are able to manage time, people and investors and are able to use persuasion to encourage people to see the benefits of their ideas.

  • They lead a team when making decisions, even under pressure and can remain focused, even when feeling confused.

  • They are confident about their ideas and business and use all the information available to them to make judgements.

  • They are busy and are able to multitask to ensure that more than one task is being dealt with.

  • They are willing to make sacrifices for the benefit of their business.

Successful entrepreneurs are good at decision making

  • They are able to make decisions alone.

  • They are able to identify when a bad decision has been made and they try to fix it.

  • They are ready to make quick decisions.

  • They take responsibility for decisions taken.

Successful entrepreneurs are good at connecting ideas

  • They understand that all decisions will have consequences

  • They are able to see the big picture in the business and understand the knock-on effects of decisions made.

  • They can identify when something in the business is not working and they are not afraid to stop or change something if it is not working.

Other characteristics of an entrepreneur include being:

  • a hard worker

  • focused

  • responsible

  • flexible

  • enthusiastic

  • a leader

  • a manager

  • confident

  • creative

  • professional

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