What are three important characteristics of entrepreneurs?

Answer 1

The 3 most important foundations to a healthy entrepreneurship is to:

1. Be willing to go out there and start a business.

2. Have the money, time, and knowledge to start this business.

3. Have a plan B. If you fail, you have to know what to do next.

Another View:

I have been in business just under 25 years. The three most important characteristics that I feel are most important are:

1. Self Drive

Often the first three years you will make WELL UNDER minimum wage. Often you may be putting money into a business that you have spent 80 or 100 hours into rather then getting any paycheck out of. To have the drive to work 80 hours after many of us also carried jobs on the side is hard. If you are not sure you can work 100 plus hours for a year or two to get started. Don't start, it is not for you.

2. Good Vision

You must know what you are about to do with your company. All companies have one thing in common, they are there to service a need that the owner of the company sees. Having that vision for the problem and being able to stay focused on it is key. Watching that need change and adapting also requires vision. A lack of vision has buried most companies that fail.

3. A support network

Family, friends and associates that understand your vision and are there to support you. The first few years are hard. Working long hours and seeing your money dwindle is frustrating, at best. Staying focused on the prize can be much easier when you have help.

Money and those other things may be a factor, but are hardly the key. If you have enough drive and focus, you will find the cash to start. Many multimillion dollar businesses have been started with under $1000.00.