I have found that there are 10 traits of a successful entrepreneur should have. 

Here are the 10 traits:

 

 

Hence, I think one of the traits that play the most significance role to an individual to become a successful entrepreneur is not afraid to take risk or in other words is a risk taker.  

Every decisions made by entrepreneurs is actually linked to risk. For instance, they have to take risk to invest for a start up business or as a modal of their business.  These decisions contain risk behind because their strategy might be failed or unsuccessful. Therefore, accepting risks and not afraid to risks is a part of the traits that considered significant to an entrepreneur. 

 

 

 

 

 

 Retrieved from: https://www.entrepreneur.com/article/243792(KHTML, like Gecko) Version/9.0  

I personally think that, out of 8 traits, highly self-motivated has significant role in shaping a person to become a successful entrepreneur. Sometimes in business, a business person will confront with the failure. With the highly self-motivated it will avoid people to feeling down and driven he/she to makes the changes in their business to makes their business become successful. Nobody makes progress by sitting back and waiting for it to find them. Successful people go out into the world and invoke change through their actions. Typically, leaders enjoy challenges and will work tirelessly to solve problems that confront them. They adapt well to changing situations without unraveling and are typically expert of helping their teams change with them by motivating them toward new goals and opportunities.

 

Retrieved from:

http://www.mbda.gov/blogger/starting-business/8-traits-successful-entrepreneurs-do-you-have-what-it-takes 

 

In my opinion, I personally think that being passionate about what they have engaged; plays the most significance role to an individual to become a successful entrepreneur. Passion is what gets the entrepreneur started and keeps them there. It gives them the ability to convince others to believe in their vision. It cannot substitute for planning, but it may help them to stay focused and to get others to look at their plans. Entrepreneurs are driven people; hence passion may engage and motivates people around them. Entrepreneurs do suffer for quite number of failures before they are successful as they are being passionate of what they are doing, where it creates the ability to learn from their own mistakes and indirectly being a solution-oriented type of entrepreneurs to overcome their failures. It is their passion and commitment that ultimately get the business through the other side. They are naturally optimistic and they believe in the vision they have created. 

 

Passion is the central to making decisions that are in the long-term interest of the customer and the company, which will help entrepreneurs establish sustainability and longevity for their brand.

For me, I think that see failure as a lesson is the most important characteristic an entrepreneur must have. Doing a business is not easy as most of the time successful entrepreneur need to wait until the right timing where their product and ideas meet the customer’s needs and wants. Jack Ma the founder of Alibaba Group, define failure as giving up, means that a person who give up trying is a true failure, he stated that, a person can learn the most from the obstacles and hard times they went through. So, failure, is actually the best lesson teaching the entrepreneur on how to do better next time. Colonel Sanders the founder of KFC also failed more than 1000 times before success. He keep trying until he finally success, his passion towards his career, spirit of never giving up make his business success until now. So, failure, is actually the best lesson teaching the entrepreneur on how to do better next time.

Retrieved from
http://www.elephantjournal.com/2013/06/what-makes-a-successful-entrepreneur-stephen-light-2/

From my point of view, the most significant role to be a successful entrepreneur is being passion. Passion fuels the drive and determination required to be successful, whether you are building a company from the ground up or buying an Internet business that already has a proven track record. 

Passion is the secret to overcome the setbacks all entrepreneurs face and it also builds resistance against the inevitable naysayers who will question about your objective, mission and vision. If you are not passionate about your ideas, nobody else will be since you yourself are not strong enough with your own ideas. So, as a successful entrepreneur, we must passionate about our own missions. They believed that their products or services are demand by customers.

One of the successful entrepreneurs that I really admired was Steve Jobs. Steve Jobs believed that people with passion could change the world. Steve Jobs explained the role passion would play in revitalizing the brand. Apple products or devices like iPhone, iPad and MacBook has its own core value that people with passion could see it. It is all about the quality instead of quantity. This is why people are willing to purchase it although the price is far more expensive than others. 

 

Article retrieved from http://www.inc.com/john-boitnott/the-most-successful-entrepreneurs-have-these-5-traits-in-common.html

Thirdly, an entrepreneur consist of survivor traits which is the ability to survive through tough times is one of the underrated entrepreneur personality traits. Successful entrepreneurs can usually survive in a business world that is about innovation. Fourthly, entrepreneur is also a negotiator which is business is all about negotiating. All of the most successful business leaders have been the one that have had an open philosophy, which means to say that they didn’t work within a rigid framework. Fifthly, delegation is important. Do not control everything, set a good working schedule and delegate out tasks such as sales contacts, CRM updates, research, analysis, marketing campaigns to others and focus on most important matters, such as client negotiation and product development. Finally, entrepreneur calculated risk taker. Being a risk taker is one of the most important where able to risk capital for business expansion, able to use collateral or assets to apply for expansion and able to share with clients and other joint venture partners.

 Therefore, there are six personality traits but the best traits which is very significant and plays vital role to an individual to become successful entrepreneur is a risk taker. Entrepreneurship and risk taking are synonymous. Not every venture that start will generate rewards. Entrepreneur should learn from the mistakes, improvise and emerge a better player. Prefer calculated risks over blind gambles. Calculate the risks associated, the cost of loss and evaluate the pros and cons before plunging into the fearless act. The Founder of SpaceX, Cofounder of PayPal, Tesla Motors, SolarCity and Zip2 who disrupted internet, finance, car, space and energy industries says “The first step is to establish something; then probability will occur. Therefore risk taker will lead to an individual to become a successful entrepreneur. 

Article Retrieved From:
http://smartinfobuzz.com/six-personality-traits-of-successful-entrepreneurs/
https://www.entrepreneur.com/article/230350

Locus of Control means a degree of control of a person over his/her life. Risk Tolerance is an ability to take risk into consideration before taking any action. Next is Entrepreneurial Alertness, with this kind of personality, an entrepreneur can explore and and get the advantage of new opportunities. Lastly is Entrepreneur Intention, which initiates entrepreneur action. 

Among of all, I personally think that an entrepreneur should have a risk tolerance in his/herself. This is because in business, there are a lot of risk that need to be taken into consideration. As Gesse (1982) stated that personal risk, social risk, and psychological risk are related to entrepreneur. Apart from that, entrepreneurs are said to make decisions in uncertain situations. Having a good risk tolerance, an entrepreneur will be able to make a great leap in his/her business. On the other hand, Jain and Ali (2013: 129) stated that risk taking is a psychological variable reflecting a person's ability to take calculated risk and achievable challenges.

In my opinion, I think the most important trait that an entrepreneur needs is to be a Good Communicators. This is because a business involves not only money that a person invest but as well as employees that helps them run the company, without the employees, it is impossible a company can run smoothly. Other than that, being a good communicators, the entrepreneur can influence other people to willingly to support the entrepreneur's vision. 

To become successful entrepreneur it is not easy. An entrepreneur will face many challenges in their life. According to Charles Toftoy (2011), passion is the most important entrepreneurial trait for success. He said the most striking quality of these entrepreneurs is the depth they have. By having depth, a sense of emotional drive is detected, and shows the spirit they have to accomplish something.

In my opinion, the entrepreneur must be persistent. It is because on doing the business the entrepreneur will be facing some mistake or failure. So, the entrepreneur cannot easily give up and must be positive and used the failure as a learning tool. They have to adjust their business until it become successful. For an example is Colonel Sanders the founder of KFC. He learns from much failure in his life by become persistence. If he does not persistence, he will not become a successful entrepreneur nowadays.

 

 

Retrieved from : http://ejbo.jyu.fi/articles/0901_7.html ��~��k�

Now come to the question of ‘how do we develop ourselves to be a successful entrepreneur’.  There are many books, publications and journals that discuss the so called ‘traits of a successful entrepreneurs’.  Some come up with 5, 7 and 10 traits of a successful entrepreneur.  The Co-founder of FE International, Mr Thomas Smale listed 10 traits of successful entrepreneur and they are :

Which of these traits play the most significant role to an individual to become a successful entrepreneur.  Looking back to the definition of Entrepreneurship and Entrepreneur I noticed that the key word are ‘considerable initiative’ and ‘risks’.  I would say that if we are passion about something we will initiate an effort to do it.  Passion fuels the drive and determination required to be successful.  If we are not passion enough about what we are doing the added stress and obstacles will burden us and eventually leads to our collapse. No doubt passion plays an important role in entrepreneurship.  The second key word is ‘risks’.  Fear of taking risks is the barrier to all success. Fear of losing our job, fear of failure, fear of bankruptcy, fear of losing our money and saving we name it and the list goes on.  The ability to control fear is one of the most important trait of a successful entrepreneur.  Some of the most successful entrepreneur took major risk and they get high profit in return.  We must not be afraid of failure.  We may fail on first attempt in doing business but we should learn from it and rise up again.  Failure is in fact the secret to success.  If we understand that the risk of failure is part of being an entrepreneur we will be willing to take those failures and use them as our learning experiences. Thus willingness to take risk is the most important trait to be a successful entrepreneur.

Entrepreneurs are enthusiastic, optimistic and future-oriented. To become an entrepreneur, they believe they’ll be successful and are willing to risk their resources in pursuit of profit. They have high energy levels and are sometimes impatient. They are always thinking about their business and how to increase their market share.
 2. Creativity and Persuasiveness
Successful entrepreneurs have the creative capacity to recognize and pursue opportunities. They possess strong selling skills and are both persuasive and persistent.
3. Versatility  
 Company workers can usually rely on a staff or colleagues to provide service or support. As an entrepreneur, you’ll typically start out as a “solopreneur,” meaning you will be on your own for a while. You may not have the luxury of hiring a support staff initially. Therefore, you will end up wearing several different hats, including secretary, bookkeeper and so on. 

4. Superb Business Skills  
 Entrepreneurs are naturally capable of setting up the internal systems, procedures and processes necessary to operate a business. They are focused on cash flow, sales and revenue at all times. Successful entrepreneurs rely on their business skills, know-how and contacts. Evaluate your current talents and professional network
 5. Risk Tolerance 
Launching any entrepreneurial venture is risky. Are you willing to assume that risk? You can reduce your risk by thoroughly researching your business concept, industry and market. You can also test your concept on a small scale

6. Drive
 As an entrepreneur, you are in the driver’s seat, so you must be proactive in your approaches to everything.
 7. Vision
One of your responsibilities as founder and head of your company is deciding where the business should go. That requires vision. Without it, your boat will be lost at sea. 

8. Flexibility and Open-Mindedness
While entrepreneurs need a steadfast vision and direction, they will face a lot of unknowns. Readiness should be a must to tweak any initial plans and strategies. New and better ways of doing things may come along as well.
9. Decisiveness
As an entrepreneur, there is no such things of procrastination or indecision. Not only will these traits stall progress, but they can also cause you to miss crucial opportunities that could move you toward success.

Retrieved from http://www.gdrc.org/icm/micro/define-micro.html
and http://www.gdrc.org/icm/micro/define-micro.html

Retrieved from: http://iringaonline.com/tabia-5-za-mjasiriamali-atakayefanikiwa-5-traits-of-enterpreneurs-in-the-right-path/

 

There are many traits to become a successful entrepreneur. Above are 10 traits of successful entrepreneurs. All above play the most significance to become a successful entrepreneur.
I believe the number 5 :self-confidence is the most significance role to an individual to become a successful entrepreneur. Everything what we want to do, we need to believe that we can do it by ourselves. The ideas can be used and logic. Therefore, we must have a high self-confidence to be what we want. Ignored what will people say to us about what we want to be, to do, to sell or market it.

Retrieved from:
http://www.intelligenthq.com/startup/10-traits-successful-entrepreneurs/

1.    Achievement motivation

2.    Risk-taking

3.    Autonomy

4.    Self-efficacy

5.    Stress Tolerance

6.    Innovativeness

7.    Internal locus of control 

8.    Optimism

Among all these traits, I would highlight Innovativeness as the trait  that has the most significant role to become successful as compare to the others.  Entrepreneurship demonstrates innovation through the application of idea or concept with the infusion of resources (Crumpton, 2012). This shows that through innovation, it would create 2 dimensional approaches to entrepreneurs in making decisions for their business, which are :

1.    Allow as much possible options and identify the best to improve the business. 

2.    Sustainability as they approach and exercise the best decision made for the business.

Reference :

1.    Suarez-Alvarez,J & Pedrosa,I (2016).The Assessment of Entreprenuerial Personality: The Current Situation and Future Directions. Papeles del Psicologo, Vol. 37(1), 62-68 Retrived from  http://www.papelesdelpsicologo.es/english/2663.pdf

2.    Crumpton, M.A. (2012). Innovation and Entreprenuership, The Bottom Line: Managing Library Finances, Vol. 25 No.,pp 98-101 retrived from www.emeralinsight.com/doi/full/10.1108/08880451211276539 

Whilst several qualities required for success in any professional field are also needed to be a successful entrepreneur (like good interpersonal skills, punctual, responsible, adaptive, thoughtful, realistic and so on) the traits that stands out in successful entrepreneurs in my opinion are: 

·       Highly motivated: This is the starting point, their life mission. Their motivation to do a particular thing is off the charts. This is what drives them and gets them through challenges.

·       Exceptional marketing skills: These people have a knack for selling; be it an idea or a product or service they have the ability to inspire and convince others.

·       Creative: They usually don’t follow the beaten path rather they break new grounds either through a new product or service. Even if they replicate what is already done they do it in a new way, their own way, or in a new territory. 

·       Determined: They are tenacious, resilient, will not give up easily.

·       Ability to foresee and project: Another common characteristic among successful entrepreneurs is that they have the ability to read which way market is going, how it will react to their business and what growth can be expected.

·       Hard working: They are not 9 to 5 workers. Because their work is their life they live for it. Not to be confused with workaholics who are consumed by their work. On the contrary these people enjoy the effort they put in.  

·       High self esteem: These people believe in their potential and are comfortable in their own skin. This helps them in reaching out to people for whatever support they need.

·       Ability to be at the right place at the right time: Call it luck or karma if you will but all successful entrepreneurs tend to know what clicks with people. Perhaps this is because of their innate ability to analyse correctly varied factors in an integrated manner.

That trait is persistence – the ability to get up and try again and again after failure. The formula is: try and fail, try and fail, try and fail…then finally success. Many entrepreneurs take years of failure to become a so-called “overnight success”.

Would it surprise you to learn that on average the number of times most people will try something before giving up is less than one!

That’s right, most people don’t even try once before giving up; while others give it the half-heart  single try. Fear of failure has them paralyzed like a deer caught in the headlights.

It is so rare to see someone achieve spectacular success on their first try, that it can pretty much be discounted or put down to blind luck. More often than not, you’ll encounter several failures prior to experiencing success. Besides that, one thing I do not agree is when people tend to say that entrepreneurs and business people are same, well not at all, we are entrepreneurs, we work not to gain profit but we want people to recognize our image as whole. People need to do more research and upgrade their knowledge on this.

Real entrepreneurs are a very different breed from most people. They will try 3 times, 10 times, 100 times until they achieve the result they are after. This is the biggest single trait that sets entrepreneurs apart from other people. Having failed so many times they start to lose, or at least manage to tame. I totally agreed, it is not easy at all when we fall and to rise again when comes to business, but the passion to achieve our goals that make us to go beyond is remarkable.

Retrived from:
http://successwise.com/the-most-important-trait-of-successful-entrepreneurs

Among all of the many traits, I think that full of determination has played one of the main role to be a successful entrepreneur. It is because a person has to be determined enough in order to march throughout the whole pathway towards the destination named success. Without it, one might lose his/her mind in the middle of the path. They might be defeated or felt lost when they have met challenges or obstacles and unable to continue back to the right path if he/she is not determined.

So for an entrepreneur to be successful, he must possess numerous traits, but among them all, full of determination will be the main key one.

https://www.entrepreneur.com/article/243792