Many of the studies of the entrepreneurial personality have found similar traits. In general, entrepreneurs are:
- Ambitious. Entrepreneurs have a high need for achievement and are competitive.
- Independent. They are self-starters who prefer to lead rather than follow. They are also individualists.
- Self-confident. They understand the challenges of starting a business but are decisive and have faith in their abilities to resolve problems. Entrepreneurs trust their hunches and act on them.
- Risk taking. Though they are not averse to risk, most successful entrepreneurs prefer situations with a moderate degree of risk, where they have a chance to control the outcome, to highly risky ventures that depend on luck.
- Visionary. Entrepreneurs believe they can create the future. Their ability to spot trends and act on them set entrepreneurs apart from small business owners and managers.
- Creative. To compete with larger firms, entrepreneurs need to have creative product designs, marketing strategies, and solutions to managerial problems.
- Energetic. Starting a business takes long hours. Some entrepreneurs start companies while still employed full-time.
- Passionate. Entrepreneurs love their work. If you are not passionate about your work, you can't be an entrepreneur. It takes too many compromises and too much effort.
- Committed. They make personal sacrifices to achieve their goals. Because they are so committed to their companies, entrepreneurs are persistent in seeking solutions to problems.
Source: "The Future of Business", Copyright © 2000 by South-Western College Publishing Company
