A-B-C List of Entrepreneur Qualities

This list of entrepreneur qualities is meant as "food for thought." Anyone who's thinking about starting their own business can use encouragement and maybe a little guidance at times. With that in mind, I put together this list of entrepreneur qualities. See if you agree with me.

  1. Audacity- Intrepidly daring, spirited, adventurous. Venturesomeness. I like this word being the first word on my list. I think an entrepreneur is a person that says, “Why not” instead of “Why?” Benjamin Disraeli said, “Success is the child of audacity”. This is one of my top 5 favorite entrepreneur qualities.
  2. Benevolence- The disposition to do good, disposed to promote the prosperity and happiness of others. This entrepreneur quality is a spiritual principle for success. No matter what faith you profess, the person that gives money to or otherwise helps the needy is often rewarded with plenty. (Money!) If you want to know more about this, either look up “tithing”, or read/watch “The Secret”. And yes, I know that every entrepreneur doesn't have this quality. In a perfect world...
  3. Creative- The word 'create' means to bring into being; to cause to exist. Having the quality or power of creating... resulting from originality of thought or expression If the solution isn't obvious, you'll be glad you're an idea person! This is one of the entrepreneur traits that can be learned, or unleashed. There are a lot of books about this now. Look for a copy of the book The Artist's Way... I loved it!
  4. Diligence- Earnest and persistent application to an undertaking; steady effort. Attentive care; heedfulness.
  5. Similar to tenacity in keeping at the job, but doing the job with care. Paying attention to the details. This is one of the entrepreneur qualities that will help ensure your success.

  6. Enthusiasm- Lively interest. I found this quote that really applies here. ”Nothing great was ever achieved without enthusiasm.” Ralph Waldo Emerson.

  7. Focus- A central point, a center of activity, action or attraction. In any business you must have the ability to focus your thoughts, You need to be goal oriented and able to ignore distractions.
  8. Goal orientation- The result or achievement toward which effort is directed; aim; end. Your goal is the outcome that you are working towards. It's the end result that you want to have happen. It's a big part of the business plan you're writing. For example, your motivation is that you want to get out of debt. Your goal is to earn X amount each year. A goal isn't vague.
  9. Gumption- 1. initiative; aggressiveness; resourcefulness: With his gumption he'll make a success of himself.2.courage; spunk; guts: It takes gumption to quit a high-paying job.3.common sense; shrewdness. This may be my favorite of these entrepreneur qualities. It really defines the spirit I've been thinking about. Any definition that uses the word “spunk” is fine with me! Gumption is a close friend of the word “guts”. And both are entrepreneur qualities you need!
  10. Honesty- Integrity or straightforwardness in conduct, speech and thought This is a tough one. A successful entrepreneur should be honest. But lots of successful entrepreneurs take short-cuts, "fudges" just a bit, and pushes a little farther than is right. Let your conscience be your guide. My own bottom line is can I sleep at night? So "honesty is its own reward" for me!
  11. Independence- Freedom from the control, influence, support, aid, or the like, of others. In my opinion, a good business person will see the crowd, take note of what it's doing,. because it may have an effect on their business. But that person will still be apart (not a of part) from the crowd.
  12. Intuition- A direct perception of the truth without any reasoning process. Immediate apprehension or cognition, the power of knowing or the knowledge obtained without recourse to inference or reasoning. Insight, familiarity. A quick or real apprehension. Often mistaken for luck. If you have it, you get it. And you probably can't explain it either. Sometimes you just know something... for no reason that you can think of.
  13. Judgement- The ability to judge, make a decision, or form an opinion objectively, authoritatively, and wisely, esp. in matters affecting action; good sense; discretion. AKA common sense. Being able to judge right or wrong of things (good or bad) or people based upon information. Because it's often based on experience, it tends to be seen as harsh.
  14. Knowledge- The state or fact of knowing. Wow, this one is big! You can never know too much... or ever stop learning! The gathering of information from different sources is a must-do! A successful entrepreneur is always looking for information. It doesn't matter if it's “book learning”or personal experience. Classroom or chat room. Keep your ears and eyes open so you can learn from the mistakes that other people make.
  15. Luck- 1. The force that seems to operate for good or ill in a person's life. 2. Good fortune; advantage or success, considered as the result of chance. 3. A combination of circumstances, events, etc., operating by chance to bring good or ill to a person. 'Nuf said! Some say, “It's better to be lucky than good”. Luck is when you break the rules and get away with it. Luck is outcome-based. Luck is situational, not usually long-term.
  16. Motivation- That within the individual that causes them to take an action. Motivation is your why, the reason that you're starting your own business. Everybody has a different motive for their actions.
  17. N??? Oh No, I lost my “N” word. Decided it wasn't a entrepreneur trait, but was more about the business itself. Anybody want to guess what it was? Or suggest another one?
  18. Optimism- An inclination to put the most favorable construction upon actions and happenings, or anticipate the best possible outcome. If you're not a positive thinker now, you'd better learn to “look on the sunny side” fast. Your positive attitude can/will move mountains.
  19. Patience- Bearing or enduring pains, trials or the like, without complaint or with equanimity It's a sense of waiting because success can take time. Don't give up too easily. Patience is one of the must have entrepreneur qualities.
  20. Quickness- This word refers to speed of thought or action. I included this because it's a business trait that will lead to success. Best used with intuition. Have you heard the expression, “Think long, think wrong?” I learned it playing poker. Quick also means 'alive'.
  21. Resourceful Able to deal skillfully, imaginatively and promptly with new situations or difficulties. This is another of the must-have entrepreneur qualities... one that an entrepreneur needs again and again.
  22. Self-starter- I think this one is obvious. Besides, it wasn't in the dictionary. Think about it. You're self-employed, with no boss telling you what to do. A self starter will decide what needs to be done, and do it today. It's the opposite trait from procrastinator.
  23. Tenacity- Holding fast. Persistence. Grit your teeth and keep on going when the going gets tough. Similar to patience, but tenacity can complain while still staying the sometimes difficult course. Patience rarely complains.
  24. Unique- Being without a like or equal. No copy-cats allowed. Stand out from the crowd. Discover your USP (unique selling proposition), and build upon it.
  25. Vision- Unusual discernment or foresight. The ability to see or visualize what you want or expect to happen. Again, look for “The Secret” if you'd like to hear more about vision.
  26. Wisdom- Ability to deal wisely and deal sagacious with facts, especially as they relate to life and conduct; discernment and judgment. Discretion. Sagacity. That is a blend of knowledge and common sense.
  27. Yourself- Closely related to uniqueness. You are the ingredient that makes your business different from anybody elses. Throw yourself into it.
  28. X??? Oops, it happened again... no “X-word” either. Unless I say something like X-treme. Which I won't.
  29. Zest! Gusto. Enthusiasm. Joy. Joie-de-vie. Starting a business is FUN! Zest usually means an attitude about life. But since entrepreneurship is a way of life, it applies here. The plain fact is that you WILL spend a LOT of time working on and in your business. Start a business that's about something you LOVE! Your passion for it will make it a pleasure.

  30. Well, that's the list... I told you it was a long one. Thanks for reading my entrepreneur qualities ABC list all the way to the end. Hey, that's tenacity, isn't it?

    These are the characteristics of an entrepreneur that you want your friends, family and customers to use when they talk about you and your business!

    Maybe they'll say “I don't know how she does it, but I always find what I 'm looking for when I shop there”. Or, “It was sure lucky you chose to start that business!” Or even, “I read his blog because he inspires and encourages me!”

    Whatever your business will be, I hope this list has given you some “food for thought”. Of course, no one has all of these qualities. Becoming an entrepreneur is a process, just like building your business is.

    If enthusiasm and gumption are your strengths, use them to your advantage. Get the knowledge you need. Practice being a self-starter.

    Develop your entrepreneur qualities. One thing will lead to another but you've got to get started now. Soon you'll be a seasoned business owner trying to help others become the same!

    Return to What Is An Entrepreneur from Entrepreneur Qualities List

    Return to Hungry Entrepreneur home page from Entrepreneur Qualities ABC