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09 Oct 10 3 Traits of a Successful Entrepreneur

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What makes an entrepreneur tick? Why some becomes successful and other fails? What should I do to be successful in my field? The questions regarding entrepreneurship could be many. Different people ass different questions, but when we look closely every question boils down to this: how can I be successful as an entrepreneur?

It is believed that there are many factors that need to come together to make an entrepreneur tick. There could be many factors, but in my mind, there are only 3 things that you need to put right in order to be successful as an entrepreneur. And for the rest? They will take care of themselves.

Ability to see the need gap

To me, a prime difference between an entrepreneur and small business owner lies in the fact that small business owners follow the pack. He or she sees an opportunity and hop onto that with full gusto. There is nothing wrong in it, but doing what others are doing is not something entrepreneurs are after. They are more concerned about fulfilling the need gap.

A successful entrepreneur has the knack to find the need gap.

Ability and dedication to find the solution

For anyone to be called an entrepreneur, he or she has to have the ability to find the solution for the need gap he or she has recognized. A solution needs to be found, just knowing the problem is not enough.

A successful entrepreneur knows that the solution might not be immediate, but if he works hard, he will be able to find solution to solve the problem (need gap) he has identified.

Passion for the work

A successful entrepreneur is passionate about what he does. It is not a meager feat to identify a problem, that too on an ongoing basis. Identifying the problem may come easy, but finding a solution to it never comes easy. And an entrepreneur has to be fanatically attached to the problem to be able to find the solution, regardless of the odds.

The aforementioned traits may look nothing, but they pose the most insurmountable challenge for an entrepreneur. Those who get ahead of these, succeeds, and those who do not fails.

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