Characteristics of an Successful Entrepreneurs | Most Important Skills & Qualities

Many Entrepreneurs are not created, others start from the scratch to make themselves. But the question is; what are the most important characteristics of an entrepreneur? There are things that make the entrepreneur very successful. Lets find out.


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Characteristics of an Successful Entrepreneurs | Most Important Skills & Qualities: The entrepreneur must be one that:


Build Creative Ideas:

Think, think, focus on a  existing giant and copy his/her existing ideas and make small improvements upon them. Start like that and watch how Your best ideas come.- perhaps while driving, eating or sleeping. . Recognise when this happens and note it down in a piece of paper. Gather these ideas and sieve them in due time.

Start well:

Register and incorporate your business. Make feasibility studies of your business as regards, industry, market, competition, technology etc. Get a business plan. Contact a consultant today.

Take Risk:

If you are risk averse, you will waste a lot of time in making decisions, Procrastination is associated with inability to take quick actions. Procrastination is a destiny killer. Trust yourself. Self confidence is a driver. It will make you take risks. You have to take financial and emotional risks in particular. If you cannot afford the risk, financially or emotionally, then you might make decisions that will not be successful.

Opportunities are rare:

Opportunities are rare and can also leave very quickly. The ability to respond to new business opportunities can be the difference between a successful entrepreneur and a failed business. To be responsive, an entrepreneur must be ready at all times to take up the advantages of upcoming possibilities.

Be a Manager:

Management takes many forms. You must take the lead in the management of your ideas (investments), production, workforce, assets and liabilities. . Good management will make your ideas and functions very fruitful and profitable. Lead by example. Be early and regular in your office. Build productive connections. Maximise the use of internet and social media plat forms.

Protect your business:

This could take the form of insurance and or registered property rights. Confidentiality would also help. Every business has one form of secrete or the other that keeps it on.

Be Law Abiding:

Do peaceful business, respect patent rights, your business regulators, be a patriotic corporate citizen – pay your tax and get other certificates that will qualify you to do business in Nigeria. Don't breach tax laws. Don only legal businesses - this will keep you out of trouble. 

Get a Coach:

Professional Accountants, and Tax practitioners will save you huge costs. Outsource part of your administrative functions that you can not handle with your existing crop of staff.

Avoid these traits of weaknesses:


  1. Many ideas - this could run you down
  2. Neglect of details – learn to be detailed in what you do,
  3. Good at starting business, but bad at running them – get a coach
  4. Highly optimistic - balance matters. Reason….Reason. Not all that glitters is gold.
  5. Family influence – always separate your family from your business. Let business be business.
  6. Autocratic management – if you are not a good manager, hire one.
  7. Lack of trend – watch the trend of your activities including your turnover and expenses. Check your profit margin.


For you to do better, get a business coach today. Get a Professional Business Plan
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