What are Qualities of an Entrepreneur - 10 Best Entrepreneurial Qualities

by Natasha

Want to be an Entrepreneur? This article list down the 10 best and essential qualities required of an entrepreneur.

Who is an entrepreneur? Most people think an entrepreneur is a businessman, although not completely wrong, by definition, an entrepreneur means a person who is an owner or a manager of a business enterprise and makes money through risk and initiative. Not all business owners are entrepreneurs in this regard. I often see many businessmen who run their family-owned businesses exactly in the same manner it was run by their fathers. Very few are willing to take the risk of doing something new and different to expand or diversify their business.

So what makes an entrepreneur different from a businessman? Or more precisely, what are the qualities or attributes that are required to make a successful entrepreneur? Following are the factors that make a business person an effective entrepreneur:

10 Best and Essential Entrepreneurial Qualities:

Qualities of an EntrepreneurIntegrity:

A value very hard to maintain, especially in this age of corporate greed and corruption. We have real-life role models such as Mr. Narayana Murthy who dreamed the colossal success story of Infosys and brought it into reality, yet remained a very simple and down-to-earth gentleman. Honesty is the best approach if one needs to build and maintain good relations with everyone from vendors to employees to customers.

Organization Skills:

It goes without saying that a person who himself is well-organized can be trusted to organize his work and business well. Self-discipline and organization skills go hand in hand. When faced with mundane chores that one is pat to put away for other time, these skills come handy, because no matter how boring the work may be, getting it done on time makes you be prepared for any new and unforeseen challenges that may come your way.

Hard Work:

Contrary to what many believe, hard work is still the in thing if you want to become successful. There is really no such thing as easy and smart work; the smart way to work is to work very hard without taking any short cuts. Dedication and perseverance are the sure roads to success.

Be Passionate:

One has to be truly passionate about what he does and to believe in it. The motivation to conduct a business is often the passion to meet new challenges and win them, which is what drives most entrepreneurs and helps them succeed.

Decision Making And Risk Taker:

Ability to take quick decisions based is the key to succeed, especially when faced with difficult decisions that may affect a business in the long term. Most successful entrepreneurs are the ones who take decisions based on instinct and gut feelings that come with experience. There may be times, when an entrepreneur has to make an adverse decision that may set back his enterprise for a short time, but he will do so nonchalantly if it means more profitable returns in future. A businessman might not tread those waters for fear of sinking, but a true entrepreneur will know how to remain afloat during such times and accept that risk with confidence, knowing fully well how to emerge from it unscathed and unharmed.


The most important attribute that an entrepreneur needs to have, confidence in him and his motives. He must not let others influence or waiver his decisions and must be confident enough to not let go of the goals he has set for him and his enterprise.

Open Minded and Learner:

An entrepreneur must always keep an open mind and should be able to quickly learn from others all that may benefit his enterprise. More importantly, he should be able to learn from his past mistakes and take lessons from those mistakes on the ways he can better his situation apply it to his business skills.


A successful entrepreneur will often see a window of opportunity whereby he can expand and further diversify his business and will not let such a single opportunity pass by without taking it.

Good Interpersonal Skills:

This is a very important and a must quality for each and every person who wants to succeed. This involves not just good communication skills but also skills of negotiation. During the course of his business, an entrepreneur comes into contact with people from many walks of life such as low-wages laborers, employees, government officials; customers etc. and he must be able to communicate with them effectively and tactfully.

For a successful entrepreneur, while the attributes that are listed above are very important, there are other things equally important such as total commitment and sometimes, personal sacrifices too. To become a successful entrepreneur, if you can be the one to take the plunge wholeheartedly, then you can turn your dreams into reality.

More On Entrepreneurship

Updated: 03/28/2012, Natasha
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Comments on What are Qualities of an Entrepreneur

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samsons1 on 03/29/2012

Very good read and accurate assertion of the qualities of a successful as well as ambitious and engaging entrepreneur...

terrilorah on 03/29/2012

Excellent article. I love that you included passion in this because if you don't have passion, it's hard to accomplish anything.

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