Traits of an Entrepreneur
Written on July 25, 2007 by Amanda M. Gladden
Maki posted an interesting piece over on doshdosh discussing why bloggers should think like entrepreneurs.
One of the most important factors you need to have when making money online is the entrepreneurial perspective. The drive to create and turn ideas or concepts into profitable online entities requires a thirst for success and an innovative mind. ~ Maki.
His post got me thinking about what I consider to be the traits of an entrepreneur. Here are what I consider My Top 3 Traits of an Entrepreneur:
Entrepreneurs have the desire to innovate and get enormous self satisfaction through implementing their innovative ideas.
Entrepreneurs recognize that the main purpose of the business is not to make a profit. According to Peter Drucker, the legendary management consultant and writer, “The purpose of a business is to create and keep a customer.” An entrepreneur understands the importance of cultivating and keeping his or her customers and focuses not on profit but on creating value. The customers come and stay and the profit follows as long as there’s value.
Entrepreneurs have the ability to understand and the willingness to take risks, often studying situations carefully and weighing alternatives involved before moving forward.
What would you add to this list of entrepreneurial traits?
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July 25th, 2007 at 3:06 am
Great food for thought! I’d add entrepreneurs know their strenghts and weaknesses
July 25th, 2007 at 7:31 am
I never thought about it the way Peter Drucker did but I really will incorporate that attitude into my mindset. Also, to your list I’ll– add entrepreneurs are never satisfied with the status quo.
July 25th, 2007 at 6:01 pm
An entrepreneur is a self starter. Someone that moves forward without having to be told what to do.
They are risk takers. Make knowledgeable risks. Meaning that dont jump into something they know nothing about.
July 26th, 2007 at 1:53 pm
its always good to inovate things and dont stick to the old one. when new inovated things dont do what you expect you can fall back or look for new stuf
July 27th, 2007 at 11:39 pm
Entrepreneurs know that Success Takes “Action”!
Great post! Short, sweet, thought-provoking
July 28th, 2007 at 12:38 am
Thanks for stopping by adding to the list everyone :))
Elyssa, yes, it’s a good idea to think about your customer from P.Drucker’s prospective.
Luuk, I like your take on things.
Amy, entrepreneurs are self starters goes right along with Ponn’s point about taking action.
Here’s another one from me: entrepreneurs are fearless.
July 31st, 2007 at 5:33 pm
I think the most important point you bring up is creating user value.
August 1st, 2007 at 3:45 am
Good list of points, especially number two and the importance of the customer.
August 2nd, 2007 at 5:05 pm
Great thoughts… great points these really inspire me . i love to read such quotes.
I totally agree with Peter Drucker , “The customers come and stay and the profit follows as long as there’s value.”
Please Excuse me if i reposted ……. !!!!
August 3rd, 2007 at 11:58 am
Entrepreneurs are not afraid to fail, and always apply what they have learned to the next opportunity.
Thanks for the great post…….enjoyed reading it!
http://musingsofanomadicmind.blogspot.com/
August 5th, 2007 at 10:29 pm
[…] of the shortest posts I’ve done so far, Traits of an Entrepreneur has turned out to be one of the most popular. That one post received so many hits in the last week […]
August 23rd, 2007 at 8:00 pm
Great post Amanda!
I was actually just talking about the strengths of bloggers and their similarity to entrepreneurs with a business partner. Successful bloggers all seem to understand the importance of networking, and they build their readership one partner at a time while increasing their ranking one link at a time. The same is true for successful entrepreneurs who are able to build distribution networks one store at a time, while growing their brands one product at a time.
A growing blog really is like a start-up in many ways. I’m always amazed to see great niche blogs grow over time, and I think you have a great one brewing here at Woman Start Your Business Now. Keep up the great blogging!
Best,
Jason
August 24th, 2007 at 10:12 pm
@Jason, thank you for the encouraging words!
November 29th, 2007 at 5:33 am
Hi
It is always interesting to read about, and learn from, what people believe makes an entrepreneur successful.
My own thoughts can be found at:
http://www.dawconsulting.co.uk/leadership/what-makes-an-entrepreneur-successful.html
Regards
Dave
July 10th, 2008 at 4:31 pm
My favorite idea of yours was the last one, where you said they take risks. It’s like the old saying, “No risk, no reward”. Here’s what I say - “Entrepreneur” is the term given to someone who was deemed crazy until everyone finally saw that their idea actually worked. In other words, they don’t worry about following the crowd.