Evaluating – Yourself and Your Idea
RESEARCH INDICATES THAT THERE ARE AT LEAST 12 KEY CHARACTERISTICS COMMON TO MANY SUCCESSFUL ENTREPRENEURS. HOW MANY DO YOU HAVE?
1. A desire for achievement – Entrepreneurs have the drive to see their business ideas come to life.
2. Willingness to work hard – Those who are focused and hard working usually achieve their goals.
3. Problem solving abilities – Those who enjoy solving problems are usually better able to deal effectively with problems as they arise.
4. Nurturing quality – Entrepreneurs will do what it takes to develop and promote their business; they will train, educate, rear and foster themselves and their team.
5. Acceptance of responsibility – Entrepreneurs are morally and legally responsible for their venture.
6. Reward orientation – Entrepreneurs desire to be rewarded for their hard work and achievement; these rewards may include money, recognition and respect.
7. Determination and optimism – Entrepreneurs have a history of not quitting. If they must close their business, they see it as a temporary setback from eventual success in another venture. They do not fear failure.
8. Organization – There are many aspects involved in starting a business (securing financing, choosing a name and location, selecting a team of experts to work with, hiring staff)…most successful entrepreneurs have the organizational skills necessary to manage these different aspects.
9. Ability to search for good ideas and sell them – Entrepreneurs are creative and are constantly looking for good ideas; they are also able to convince and sell others on their ideas.
10. Profit orientation – Entrepreneurs use profit as a measure for their achievement and success(however, profits may not motivate entrepreneurs to the same extent as the desire to achieve).
11. High tolerance for risk and uncertainty – An entrepreneur is able to deal with the risks and uncertainties, which are associated with owning and managing a business; an entrepreneur is also willing to forego the security of a salary in favor of running her own affairs.
12. Communication skills – Entrepreneurs have above average communication skills; interact effectively with customers, partners, investors and suppliers.