Thursday, May 26, 2011

5 Uncommon Traits of Successful Entrepreneurs

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We have heard many successes stories of entrepreneurs with gut wrenching risk taking abilities who possess the virtue of fearlessness. But every successful entrepreneur possesses a handful of uncommon traits that hardly take a place in the books on entrepreneurial lesions but are essential for success. And people who identify these hidden traits or possess these uncommon qualities are sure to become successful entrepreneurs.

1. Curiosity
Curiosity should be counted as the best trait of an entrepreneur as it's that never-ending thirst to know the positive and negatives or the ups and downs of business. Curious entrepreneurs always look for answers - how things work, why there is a decline in buying, what triggered an increase in business etc. Entrepreneurship curiosity ignites innovation. Innate curiosity drives their ambition to creative innovative products and services. In fact, many great entrepreneurs like Twitter Co-Founder, Jack Dorsey have testified that its curiosity that cleared the path of entrepreneurship before them.

2. Pragmatism
Pragmatism is a synonym for a successful entrepreneur. They choose to work on their self inspiration earned through personal observation and develop ideas for what they feel is in
need around them. So they build a concrete plan and they are very practical in terms of getting there. Successful entrepreneurs never compromise on their vision and they do not set goals to test realization, but only to achieve. Being practical does not mean to be overly cash sensitive rather have a great sense of the reality and plan up appropriate actions needed to achieve the goals. Smart entrepreneurs work on their plan, may change it as they progress but never loses their focus from getting a good return.

3. Impatience
Patience is undoubtedly a virtue, but for an entrepreneur, impatience is a virtue that drives them to achieve their ambitions as soon as possible. They may not be looking for shor
tcuts, but rather are in search for faster routes than the traditional ones. In the world of entrepreneurship, smart people take different priorities and values to achieve what they dream of. It's all about pushing a bit too hard, test the limits, and learn what their real threshold is. It requires the entrepreneurs to place themselves out of their comfort zones, gain great confidence in their abilities, and make things happen. They realize that life is too short to sit around and wait for things to happen.

4. Non judgment
It's a great quality of successful entrepreneurs to abstain from judging themselves. It's impossible to survive as an entrepreneur for long without any failures. The greatness o
f successful entrepreneurs is that they make it a learning experience than negatively judging it as their fault. They go on to find what they have learning from these mistakes than why they have failed.

5. Calculated Risk Takers
Smart entrepreneurs are not gamblers but people who take calculated risks. They do not shy away from risks, they understand that not taking risk is a huge risk. Hence, they crucially analyze the opportunities offered and possess the confidence that something worth can be made of the opportunity before they get into it. They try to limit the ultimate risk by letting go of a bad idea. They do not wish to lose out in a business deal by impulsive decisions rather they take responsibility for their actions. They prepare themselves not to be carried away by emotion, temptation or reflex but relay on their experience and knowledge.