Entrepreneurship Assets

[roadtoharvard]

So what skills/abilities do you think gives an entrepreneur an increased chance of success? I know this can be category specific but i want some generalities!

Here's what i think are the essentials:

1) Determination
2) Risk tolerance
3) Energy
4) Rationale
5) People skills
6) Willingness to admit that you're wrong/ability to change
7) Education


Another that i think helps but isn't essential (for now anyway) is knowing a few languages/about cultures.

What do you guys think?

[JBarista]

Funny, I thought of this earlier today at work, when I saw two people with their own businesses. The first one works 12 hours per day with selling books at the local square, when the other one owns several successful companies (hes a millionaire now.)

I think that the difference between successful entrepreneurs and less successful entrepreneurs is their abilities to see opportunities and predict future needs.

But many people see opportunities and predict future needs, my mother, maybe your aunt, uncle or son does, but what diffenents these people from entrepreneurs is that an entrepreneur MAKES THE IDEA COME TRUE by introducing the product to the market.

That is my opinion.

[jrod31]

I think one of the things is THINKING & WORKING SMART. many people could have ideas but dont execute propeerly. I say this also from my own experiences. someone could have a good idea that requires multi function positions, alot of people being that they are starting up will try to work all these positions, and it most likely fail. Thinking and working smart......planning on how to acomplish these multi functions.

just to add on:

Focus
desire
responsable

[ltressel]

Never Stop Learning.


LT

[syia]

Great inspiration..

[Will]

roadtoharvard, all your ideas are needed or wanted by entrepreneurs. Some have some quality that others dont, and thats what makes it such a great thing.

[drjay]

Persistence
Desire for immediate feedback
Inquisitiveness
Strong drive to achieve
High energy level
Goal-oriented behavior
Independent
Demanding
Self-confident
Calculated risk taker
Creative
Innovative
Vision
Commitment
Problem solving skills
Tolerance for ambiguity
Strong integrity
Highly reliable
Personal initiative
Ability to consolidate resources
Strong management and organizational skills
Competitive
Change agent
Tolerance for failure
Desire to work hard
Luck

[pbradish]

Great list drjay. Here are a few more:

Nerves of steel
Performance under pressure
Leadership
Influence
Support of family / loved ones

[akula]

you guys have a hard on for adjectives

get real

get a clue

[p3t0r]

One of the best is from Kuratko and Hodgetts;

"Entrepreneurs have the ability to see opportunity where others see chaos, confusion and contradiction"

also gotta love DrJays textbook replies! :P

But from my own words, when starting out, Entrepreneurs actively look for opportunities and go at it despite the resources available! - that comes later, because good entrepreneurs should have the ability to find resources when needed!

[Young Spark]

In my small reply... I would honestly have to say that everything said above are good ideas... the thing I would say makes a entrepreneur is 3 things in my opinion. Persistence (You need the drive and will to succeed, persistence allows for that.) -- Leadership (You need to know how to take charge, know how to execute properly with your leadership skills.) -- Support (What would a company be without the help and support of people who actually faced the hardships you'll be going through. That's why (and don't mistaken me for promoting this forum) YE is here.)

I don't think anything else is needed by Persistence, Leadership and Support... break them 3 down and you are sure to possibly succeed. Even though Drjay has a list of a million ideas... I don't even know in my opinion if a few would qualify for Entrepreneurial Assets IMHO.