4 – make that 5 – critical traits of an entrepreneur

In his December 15 on-line article for Inc., Glenn Blickenstaff says that being a risk-taker, goal-oriented and ambitious aren’t enough for an entrepreneur to get to the next level. He says that four additional traits are required. To be successful, he says, entrepreneurs must:

1. Look for ways to make a difference.

2. Follow that overwhelming desire to take action.

3. Exert [their] influence as much as possible.

4. Help other would-be entrepreneurs.

I would add a fifth item to Mr. Blickenstaff’s list. Entrepreneurs must also:

5. Think rigorously about their business.

Successful entrepreneurs must have the discipline to carefully think through their business before they start it. Carefully assessing the validity of the business concept will inspire confidence in bankers, investors and potential customers. Entrepreneurs must then continue to think hard about the business by monitoring it as it progresses. This allows them to quickly adjust to the inevitable challenges that will occur.

Only rigorous and on-going thinking enables entrepreneurs to fully harness all of the other traits mentioned by Mr. Blickenstaff.

What do you think? What other traits do entrepreneurs need to create a successful business?

Alex