Do you have a strong desire to become a successful

entrepreneur? Would you like to know if you have what it takes

to build a successful business?
1. Integrity - someone once said, “Right is right even if no one is doing it, and wrong is
wrong even if everyone is doing it” We all hear stories about corporate greed and
corruption. However, the truth is, successful entrepreneurs are rated “being honest with
everyone” the number one factor of their success.
2. Self –discipline – to become a successful entrepreneur you have to be highly disciplined. If you are trying
to build a business from the ground up, you will be faced with doing all the job functions of a company,
such as accounting, marketing and customer service. You have to develop the ability to get things done,
even when you don’t feel like it. Luckily, you learn self-discipline with the right information and conscious
effort.
What is Entrepreneur?

3. People skills - another critical factor among successful entrepreneurs is having good
people skills. You should make an effort to genuinely like, respect, and appreciate
other people. The ability to win people over will carry you far in all walks of life,
especially your own business.
4. Strong work ethics – there’s no substitute for hard work when it comes to
becoming a successful entrepreneur. Most people want to do the fastest and easiest
solution when it comes to work. To be successful, dedicate yourself to persistent,
productive, and old fashioned hard work.
5. Passion – you need to be passionate about your business. This doesn’t necessarily
mean you have to build a business around something you love. You should identify a
profitable market and then build your business. To Loving your business will also make it
easier to get through the start-up phase, and other future obstacles.
6. Strong leadership qualities - being able to communicate effectively, motivate
others, sell your ideas, and be decisive, are just a few qualities of a good leader. In
order to become a successful entrepreneur you must dedicate yourself of improving
your leadership and abilities.
7. Competitiveness – competition is everywhere. In business, it is the survival of the
fittest. If you can out market and outperform your competitors, your chance of being a
successful entrepreneur will be much better. Play to win, but never sacrifice your
integrity for the sake of a few bucks.
8. Well-organized – One of the main reason why small businesses fail is lack of
organization. Everyone can learn organization skills with enough hard work,
practice and persistence.
Personal Entrepreneurial Characteristics Clusters and Behavioral Indicators

Behavioral scientists and psychologists who have been studying entrepreneurs found that successful
entrepreneurs all over the world have some characteristics in common. They were able to identify ten
personal entrepreneurial characteristics (PECs) under the following clusters:
I. Achievement Cluster
II. Planning Cluster
III.Power Cluster
Achievers rate high in the following PECs

1. Opportunity-Seeking. An entrepreneur is said to be a good opportunity- seeker if he sees and acts on

new business opportunities and seizes unusual opportunities to acquire financing, equipment, land and
work space or assistance.
Achievers rate high in the following PECs

2. Persistence. A persistent individual is one who:

a. takes different actions to overcome an obstacle
b. makes personal sacrifice or spends extraordinary efforts to complete a job
c. sticks to his judgments in the face of opposition or early lack of success
Achievers rate high in the following PECs

3. Commitment to the Work Contract. The true-blue entrepreneur is committed to the work that he has
agreed to do. When he accepts a job, he takes full responsibility for its completion. No job is too small, too
dirty or too difficult to be done. When necessary, he pitches in for workers to get things done.
Achievers rate high in the following PECs

4. Risk Taking. A gambler is a person who takes high risks and so he tends to lose all his money and even his
shirts in the end. An entrepreneur is not a gambler. A successful entrepreneur takes calculated, moderate, or
reasonable risks where he perceives the chances for winning to be good.
Achievers rate high in the following PECs

5. Demand for Quality and Efficiency. A true entrepreneur is not satisfied with mediocre work. He sets a high
standard of performance. The high standard of performance makes him act to meet or exceed existing standards of
excellence or improve on past performance. He strives to do things better, faster, or cheaper
Going into business is the result of deliberate goal-setting,
tireless information-seeking and systematic planning and
monitoring by the entrepreneur.
1. Goal-Setting. An entrepreneur always thinks not only of what he wants
to accomplish day-to-day but also in one, two, or five years from now. In
other words, he sets clear and specific short-and-long term objectives.
2. Information-Seeking. As a careful planner, the successful
entrepreneur always makes it a point to seek information that is
relevant and useful to his present or future business.
3. Systematic Planning and Monitoring. The successful
entrepreneur does not only set short-and-long –term goals. He
does not only seek information regularly.
The personal motto of a successful entrepreneur is “I can”. He thinks that he can
achieve things; he can convince people to his way of thinking; he can influence the
outcome of events. He is a natural leader. He is decisive and he believes in his power.
1. Persuasion and networking. A persuasive person who readily
establishes a network or personal business contracts around him
usually makes a good entrepreneur.
2. Self-Confidence. The entrepreneur exudes self-confidence. He strongly
believes in himself and his own abilities. No challenge is too difficult nor
is a task too big that the entrepreneur would indulge in self-doubt.