Monday, 24 January 2022 01:25

Characteristics that make a good entrepreneur

Written by Evelyn Alas

The term entrepreneur has different approaches and is sometimes defined as a person who has an idea, develops it and creates his or her own business. However, it is the personal characteristics and individual traits that define people with an entrepreneurial mindset.

Innovate: an innovative idea will always be linked to success. The entrepreneur, who does not stick with what has already been said and done, offers an attractive vision for those looking to invest in unexplored markets.

Confident in his project: an entrepreneur firmly believes in his idea, because he is sure, once he has made the necessary analyses (market, financial projections, business plan, among others), that his company will work thanks to the resources he has.

Face risks: in business not everything is written, there will be some unexpected situations, the fear of failure, not meeting the needs of customers, not having an adequate work team, etc., but the vision of the entrepreneur must be enough to face these and other types of risks. He/she will have to analyze what happens and mitigate the unforeseen, without fear of the unknown, because that will be a limiting factor to solve such situations.

Be realistic: an entrepreneur must not only have an idea, develop it and turn it into a business. He must be aware that his investment may not be recovered in the first month, that the company may have competition or that the market response may not be as immediate.