But the fact is this: so many of these businesses are not going to succeed, and so many of these companies were launched by people who are just not entrepreneurs. Nine out of ten startups will fail and according to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months.
Why don’t we apply the same perspective, how we view the talents and skill sets of our best athletes, to how we teach entrepreneurship and becoming an entrepreneur? So little thought is given to that fact that just like the top athletes in the world, entrepreneurs who build successful businesses come from a certain breed. They have an entrepreneurial DNA that allowed them to hone in on their business skills in the first place.
Because the fact is this: entrepreneurs are born, not made. Of course, anyone can maximize any skill-set, but it doesn’t necessarily make them successful at it. I could maximize my singing with vocal lessons, but I’ll still always just be a mediocre singer. To win at the very top of the chain, to make it big in the business world and in any arena, you have to be born with talent.
An Entrepreneur’s Characteristics and Skills
So what are the characteristics and skills of a good entrepreneur? What’s the “it” factor that makes for a great entrepreneur? To be a basketball star, you would most likely be extremely tall, fast, athletic, and have real chops. But the qualities of a great entrepreneur are more abstract or illusive for someone studying entrepreneurship and business. From my experience, I believe there are five major traits that mean you have the chops when it comes to building a business and living the life of an entrepreneur.
- A chip on your shoulder.
- An independent spirit.
- Understanding consumers and consumer attention.
The talent and skill set required to make it to the big time are crucial.Real entrepreneurs are born and prove out their DNA with hard work. What I’m saying is this: only a handful of people have what it takes to truly run a million dollar business.
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