Characteristics of Entrepreneurs The following list includes most of the significant characteristics that are shared by many successful

entrepreneurs. Entrepreneurs have the ability to take calculated and prudent risks. Entrepreneurs are high in self-confidence, self-belief, and the need for achievement. They lack the fear of failure. Entrepreneurs have high tolerance for ambiguity. Entrepreneurs are people with vision. They prefer independence, like to control their own lives, and avoid submission to authority. They are usually curious, creative, and innovative. They possess an urge to build and to leave a legacy behind them. Entrepreneurs are seen to be very open to experience and learning. Entrepreneurs have high ability to identify opportunities and the drive to exploit the opportunities. Entrepreneurs are passionate about their idea and work, and do not need to be supervised. Entrepreneurs show a high level of willpower, mental toughness, perseverance, and persistence in pursuit of their goals. They are disciplined, willing to work hard, conscientious, and focused on their goals. Entrepreneurs are optimistic in nature and have a positive attitude toward challenges. Entrepreneurs are good organizers of resources. They are good strategists and planners. They have good decision-making skills. Successful entrepreneurs are efficient executers of plans. They are ready for postponed gratification and willing to let go of material comforts and corporate trappings of perquisites/power. They exhibit a high level of rigidity and flexibility at the same time. They stick firmly to their vision and philosophy while demonstrating a high level of flexibility in coping with environmental challenges and exploiting environmental opportunities. They are able to maintain a healthy balance between apparently conflicting priorities, such as the time to be dedicated to the new venture versus quality time for the family.

Most successful entrepreneurs have good interpersonal skills. Entrepreneurs are empathetic by nature. Most successful entrepreneurs possess good health. They have good foresight and are seen to depend heavily on gut feeling for decision-making in the face of uncertainty or incomplete information. They love to create wealth.