The most dominant characteristic found in many successful and famous entrepreneurs is passion. Everything that an entrepreneur does is something that he or she loves to do. Walt Disney pursued his love for drawing and animation; Bill Gates pursued his passion for computers and software. Everything that an entrepreneur does is in some way related to his or her passion.
Passion provides the basic foundation for the rest of the skills of an entrepreneur. When entrepreneurs have passion, they are able to work hard without getting tired easily. They love what they do, so even if they do get tired, it is a type of “happy” tired.
When entrepreneurs have passion, they are able to work harder for their interest, and thus they make their skills better. The more they work, the better they become, and eventually they even become an expert in their field.
When entrepreneurs have passion, they also have more energy. They are more enthusiastic, blissful, a stress-free. They are more self-confident. Since they are doing what they love to do, they work harder towards their success.
When entrepreneurs have passion, they don’t have any regrets with what they are doing. They don’t hesitate with decisions, because they know that they are always going to be pursuing something that they love to do. So even if there is failure along the way, at least they can still get back up and continue doing something that they love.
2. Able to manage money wisely
Walt Disney failed in some of his entrepreneurial endeavors, because he didn’t know how to manage money well. If entrepreneurs don’t know how to manage money, how will they attain and maintain the funds necessary for the long-term life span of a business? Entrepreneurs need money to pay for expenses, to upgrade their business, to replace broken tools and equipment, to pay for education and learning, and to pay themselves to continue doing their passion. Without proper money management, an entrepreneur will find himself struggling in the world of business and finance.
Entrepreneurs are very innovative. This means they tend to invent new things that haven’t been invented before. They pursue new things, and they take new paths. They are usually the first ones to take their new ideas and apply it in some way to the world. They are very visual and imaginative. In a way, they like to “see” the future. They visualize what the world will be like when their ideas are applied in everyday life. They are creative and imaginative.
Just because entrepreneurs are imaginative doesn’t mean they are realistic. Entrepreneurs need to be realistic in order for their imaginations to come true. They take their ideas and try to make it happen in the real world, even if it’s just a small part of the idea.
How are entrepreneurs able to accomplish big things? They set goals. When they “see” into the future, they are setting goals. They set realistic goals for themselves so that they can achieve them and get closer to their success. But more importantly, they set SMART goals, which stands for small, measurable, attainable, realistic, and timely. It is very important to set SMART goals for entrepreneurs, otherwise they wouldn’t be able to achieve or accomplish anything.