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Entrepreneur

A person who starts, designs, launches, and runs a new business

What is an Entrepreneur?

An entrepreneur is a person who starts, designs, launches, and runs a new business. Instead of being an employee with a 9-5 job and reports to a supervisor or manager, an entrepreneur operates the business and assumes all risks and rewards that come with owning one.

 

Entrepreneur

 

Why Become an Entrepreneur

Running a business is not an easy endeavor, and not everyone is built to become an entrepreneur. It is a huge responsibility, and there are so many things to consider, but why so many people still take the road of entrepreneurship?

It can be because it’s their lifelong dream, or they want to be financially independent by being their own boss. Whatever the reason is, being an entrepreneur offers its share of rewards. Of course, you need to have what it takes to start and run a business.

 

Top Qualities of an Entrepreneur

Here are several qualities of a successful entrepreneur:

 

#1 Passionate

Successful entrepreneurs are passionate about what they do, so much so that they’re willing to work a few extra hours. For them, there’s more to running a business than just generating profit. Also, because they love their work, they constantly find ways to learn more about it or the industry they’re in.

 

#2 Disciplined

Successful entrepreneurs take steps with the business goal in mind. They think before they act and finish what needs to be accomplished. They are disciplined enough to overcome any challenges that hinder them from achieving success.

 

#3 Confident

Entrepreneurs believe in their product or service. Otherwise, what’s the point of starting and running your business? They are confident that with their expertise and skills, they can be successful.

 

#4 Open-minded

Running your own business presents a lot of ideas and opportunities for growth, whether it be about your product or service, the workflow, your attitude towards your staff and customers, etc. Successful entrepreneurs look at every opportunity and see if it’s useful towards the success of the business.

 

#5 Creative

It takes a great deal of creativity to run a business, to inject imagination on how to better promote your products or services, and to make them more suitable to customers. Successful entrepreneurs never lose their creativity to come up with solutions to stand out from the competition.

 

#6 Strong people skills

How can you sell your product or service if you don’t communicate well? How can you motivate your employees? Successful entrepreneurs have strong people skills to keep their employees motivated and persuade customers to check out their business.

 

#7 Initiative

As entrepreneurs, they don’t report to a boss or manager who will give them the tasks to be done on a daily basis. They are self-starters and proactive. They set the parameters and be a good example to their employees, so everything is done towards the business goal.

 

#8 Strong work ethic

Successful entrepreneurs don’t mind being the first to arrive and the last to leave the office. They make sure that they’re on track towards achieving success. They want to be on top and are willing to work harder than everyone else to reach it.

 

Final Word

Listed above some of the qualities of successful entrepreneurs. Running a business involves a lot of hard work and sacrifice, but with continuous learning and the right qualities, you can also become an entrepreneur and achieve success.

 

Additional Resources

CFI offers the Financial Modeling & Valuation Analyst (FMVA)™ certification program for those looking to take their careers to the next level. To keep learning and advancing your career, the following resources will be helpful:

  • Management Theories
  • Millennials
  • Sense of Purpose at Work
  • The American Dream

Financial Analyst Certification

Become a certified Financial Modeling and Valuation Analyst (FMVA)® by completing CFI’s online financial modeling classes and training program!