Traits of a Successful Entrepreneur

Sadly, not all businesses that start end up remaining operational in the long haul. Part of the reason of the failure of most startups has to do with failing to understand the things that need to be done to guarantee success. If you ask the most successful entrepreneurs such as Richard Branson of Virgin Atlantic, Bill Gates of Microsoft or Larry Page of Google, what is the secret behind their success, these business leaders will tell you that you must be willing to do some things whether you like or not. Let’s look at some more traits of a successful entrepreneur.

The definition of success might differ from one business guru to another. However, one thing remains the same amongst the most successful entrepreneurs – they have common characteristics. The prudent thing is to place a check next to every characteristic you feel you possess. This helps you to evaluate how much you stack up. Although you do not have all of the characteristics, you should not fret. You can learn most of them through exercising patience and practice. You can also be among those in the top league by developing a winning attitude. This is especially true if you set and apply your goals through strategic planning.

Always do what you enjoy most

If you want to venture into business and are clueless about the type of business to start, just find out the exact thing that you love doing. Whatever you derive out of your business in form of enjoyment, stability, financial gain and personal satisfaction shall be the sum total of whatever you put into the business.

Therefore, if you do not enjoy whatever you are doing, then the likelihood is that you will find it necessary to assume that it will reflect in success of business or subsequent lack of it. Actually, if you do not enjoy what you do, chances are high that you will never succeed.

Always give whatever you are doing the seriousness it deserves

Sadly, most people start businesses without being serious. You cannot expect to enjoy success in business if you don’t believe in your business. For you to be successful and effective, you must be willing to give it the seriousness it deserves. Most home businesses for instance fail to take off because of lacking seriousness and passion. Home business owners are easily distracted. This leaves such a negative impact on the business. The failure to be motivated all through is also a recipe for disaster. You must be willing to keep your nose to the grindstone.

Don’t fall prey to the naysayers that obviously don’t take you seriously, because you work from home. These skeptics do not know that a good number of home based businesses that make quite some good income exist. Therefore, ignore them and do your thing.

Always plan everything

Failing to plan is planning to fail. Most entrepreneurs take this popular aphorism lightly. You should plan every aspect of your business including the minor details. Develop habits that you are willing to maintain no matter what. Business planning requires you to analyze every business situation. It also entails researching and compiling data and making conclusions based mainly on the facts revealed through research.

Your business plan also serves as a second function. It helps you have your goals on paper and on how to achieve them. With a business plan, you have a clear road map that will take you from one place to another. You use it as a yardstick to measure the success of all the individual segments of your business.

Always manage your money wisely

Cash flow is the lifeblood of any business enterprise. You must purchase inventory, replace or repair equipment/tools, market or promote your business and pay for services among other countless things. For this reason, as a business owner, you must become a wise money manager. This ensures that you keep the cash of your business flowing. A wise money manager also pays all his bills in time. Two aspects of wise money management exist. These are:

  • The money you get from your clients in exchange for services and goods you provide
  • The money you use on your wages, supplies, inventory and other items required to keep the business in operation

The customer is your reason for existence – it is all about the customer

Most entrepreneurs forget that they exist because of the clients. They even go ahead to produce classy and stylish products. Even if your products are the flashiest in the market, and they don’t meet the needs and wants of your customers, then be sure that you are heading nowhere. Remember that you are in business not to beat your competition, but to satisfy the needs of your customers. Your business should revolve only around your clients or customers, period!

After all, aren’t the customers who inform your need to go into business or not? Everything you do and every decision you make should be customer focused. This includes your website, promotional campaigns, advertising campaigns, presentations, operating hours, payment options, warranties, and policies. Moreover, you must be in the know of exactly who your customers are, upside down and inside out.

Project nothing short of a positive business image

You only have a passing moment to make a memorable and positive impression on all the people you intend to do business with. You must always go out of your way to make a conscious effort to project a professional business image. You must be willing to do anything it takes to create an impressive image of your company. By maintaining a professional image of your business, there is no doubt that people will take your seriously and you will in turn enjoy considerable profits.

The above top tips will help your business perform exceptionally both in the long and short run.


Charlie is one of the most successful writer when it comes to matters entrepreneurship. He is the author of one of New York’s best sellers on start ups. Talk to him today about national debt reviews.

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Small Business Mentoring: 9 Factors to Consider When Looking for the Right Mentor

To get ahead in life, everyone needs advice and help. Ask even the most successful individuals in the world how they got to where they are. Most likely, you will establish that they have at least one mentor who guided them along the way. In this post we’ll look at small business mentoring and the factors to take into account when looking for the perfect mentor.

Whether you are on the receiving or giving end of investment advice, energy, or time, it is extremely important to view mentoring for exactly what it is – a totally priceless gift. This is according to the CEO of Avention, a business information and sales enablement solutions provider based in Massachusetts.

Do you want a good mentor who will help you get to a higher level in both your personal and career life? Today, so many life coaches exist. So how do you separate the chuff from wheat? Here are nine factors you should consider when looking for an inspiring and incredible mentor:

Always know that praise is not necessarily part of the entire deal

Sadly, most people who claim to want a mentor only want strokes and attention. This is not the kind of constructive feedback that results in professional and personal growth. According to the CEO of Avention, if you study the lives of the best entrepreneurs, greatest athletes, as well as investors, they all enthusiastically accepted coaching and advice or had great mentors. He continues to add that, to him, those types of individuals, their curiosity, self-awareness and desire to grow and become better inspired them to seek mentors.

Do not entertain silence – remember silence breeds failure

Excellent mentors help you grow through open and frank conversations regardless of how hard they might be. For example, mentoring mentors provide constructive feedback repeatedly so that no employee ought to be surprised when time for a performance appraisal comes. Avention CEO says that typically, many people that are surprised by their own appraisals are most likely to be poor or weak managers.

Active empathy and listening builds relationships

One thing you should always know is that a relationship is exactly what maintains a mentor-mentee relationship. Once this relationship becomes obligatory, the utmost benefit to both individuals rapidly dissipates. According to Avention CEO, over time, relationships usually diminish because of lack of being true to each other.

Always opt for a mentor you admire and desire to emulate

One of the worst ideas when it comes to choosing a mentor is aligning yourself with an adviser all because of her or his title or for political gain. So you don’t have a wise individual who you admire? Well, the best place to start is hanging out in an incubator or industry events. Widen your pool of associations. Go to any form of venture capital gathering that you can manage. Use LinkedIn and try to gather and garner as many introductions and connections as possible.


Some call it forthrightness, which is agreeable. Your mentor should not act or talk like a politician. When you are in trouble, you need someone to give you strong and cutting blunt advice on exactly what you might not be doing correctly.

Additionally, your mentor should have the audacity to tell you everything like it is. If you notice that he or she cannot do this, then avoid him or her like a plague.

Choose a mentor who allows you to have a vision for your future

In addition to providing advice in the present, your mentor should also offer the required support and scaffolding to allow you to envision your future. Most often, it is very hard to envision the next phase of your life when working so hard in the present. Moreover, at times, after you have completed your PhD, it can be quite difficult to envision what your life will be like. The same applies to any level of education.

Choose a mentor of any sex, but the same sex is much better

Although it is highly preferred that you choose a mentor of the same sex, it is still okay to opt for a mentor of the opposite sex. Man-to-man mentorship, for instance, is brilliant because men can talk about personal issues that affect them without feeling weird. Unless your prospective mentor of the opposite sex boasts of the specific skills necessary for your mentorship, it is advisable to stick to one who is of the same sex. This will benefit you big time in the long run.

He or she should be totally honest

Honesty is one of the most important aspects your mentor should possess. Besides being honest as the mentee, ensure that your mentor is honest as well. It is highly advisable that he or she be more than frank on any issue. Your mentor should be bold to tell you when you are doing things the wrong way. Positive criticism is of utmost importance. It helps you grow and build your confidence. In the end, you become stronger.

He or she should be time efficient

Most, if not all, mentors hold very senior positions. Consequently, they are super busy. They are great at utilizing every single second of their days. Do you want to be efficient at managing time? Well, you need a mentor who is great at time management. Time efficient mentors will share with you the strategies needed to help you become better at managing time. In addition to efficiency at time management, you should look for some small underlying behaviors. Some behaviors, small as they are, might make such a huge difference between your failure and success.

That being said, your success is always your prerogative. You are the driver of your success. Do not sit and wait for a mentor to suggest action plans for you. Get out of your comfort zone and make excellent use of all resources at your disposal – your mentor included. This way, achieving success will be more than possible. There is no doubt about that.

Charlie Brown is one of the contributors of a leading financial website. Talk to him today if you need help regarding national debt reviews.

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