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  • Chaoxiang Lee
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A Good Entrepreneur Is…

2015-08-20 02:53:16

What are the traits of a good entrepreneur?


Has a strong work ethic. Every successful entrepreneur practices superb work ethic. While some thriving businesses have been built to reduce a businessman’s work time, any business an individual opens may require long hours on the end. A person cannot cut work time unless he has exerted much effort and time.


Sets realistic yet feasible goals. Numerous matters have to be improved or fixed when you are starting a business. One cannot just focus on every potential area for improvement. But, it is important to try correcting each flaws to amplify business and instill self-improvement. Lack of focus is tantamount to failed business. To counter failure, make it a point to set consistent, realistic goals. The SMART (specific, measurable, achievable, realistic, and trackable) acronym can be helpful in setting and attaining these goals.


Controls his emotions. American author Stephen Covey outlines the seven traits every person should possess to become effective. One of those is the capacity to control emotions. The road to entrepreneurship is a curvy path, which is emotionally draining. So, it takes controlling emotions when responding to any situation, even in most stressful scenarios, to expand your business. Never let emotions control you, not the other way around.


Expands His Skills and Knowledge. A successful entrepreneur looks for every possible way to expand his skills and knowledge. Even if you are the richest person in the world, you still need to improve your skill set to make the business flourishing. Especially for small entrepreneurs, one needs to be an operational expert, salesperson, efficient manager, product manager, and financial analyst. Work on your physical, mental, social, emotional, and spiritual areas. Practicing new skills in each area and employing those in your business can help you grow your business.


Focuses on Bolstering the Business’ Value. This is the last yet the most important habit of a good entrepreneur. Successful businessmen have an ultimate focus on adding value. One needs to add value to his client or customers. And it goes beyond creating different gimmicks to bolster the business’ worth.


A good entrepreneur has a firm work ethic, sets realistic yet attainable goals, controls his emotions, expands skills and knowledge, and focuses on increasing a business’ value.