Characteristics That Make a Successful Entrepreneur
Do you have what it takes to be an entrepreneur? Entrepreneurs are like everyone else - the difference is they usually have stronger feelings and express themselves more strongly that those less likely to strike out on their own.
If you are going to risk your money and time in your own business you must have a strong feeling that you will be successful. These strong feelings may also cause problems. If you want to start your own business, you probably have mixed feelings about authority. You know the manager must have authority to get things done, but you're not comfortable working under someone. This may also have been your attitude in a scholastic, family, or other authority structure. If you want to open your own business you are likely to have a strong need for achievement. This need for achievement is a psychologist's term for motivation and is usually measured by tests. It can be an important factor in success. The person who wouldn't think of starting a business might call you a plunger, a gambler, a high-risk taker. Yet you probably don't feel that about yourself.
The characteristics that appear most frequently among successful small business managers include the following:
Drive, as defined in the study, is composed of responsibility, vigor, initiative, persistence and health.
Thinking ability consists of original, creative, critical, and analytical thinking.
Competency in human relations means emotional stability, sociability, good personal relations, consideration, cheerfulness, cooperation. and tactfulness.
Communications skills include verbal comprehension, and oral and written communications.
Technical knowledge is the comprehension of the physical process of producing goods or services, and the ability to use the information persistently.
Motivation or drive has long been considered as having an important effect on performance. Development of such achievement motivation depends on setting the right kind of goals for yourself.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.