Entrepreneurs are generally inspired by at least one of two factors — independence and financial gain.
Independence is sought to take risks and escape from other people’s direction.
Many seek a haven from corporate bureaucracy. They want to be their own master, have a strong need for achievement and the freedom to make decisions.
In short, they want the freedom that they did not have as employees.
In a Small Business Administration study, five characteristics were identified as the most important predictors of an entrepreneur’s success.
1. Drive is the most important attribute.
2. Thinking ability encompasses creativity, critical thinking, analytical abilities and originality.
3. People skills are the ability to motivate employees, sell customers, negotiate with suppliers and convince lenders.
4. Communication skill is the ability to make yourself understood.
5. Technical ability speaks to the need for entrepreneurs to know their product and their market.
Photo by pierre lascott.
Top Reads of the Week - Aridni on February 25th, 2007 at 8:57 pm
[...] It looks like some of Matthew’s advice had to be learned the hard way! 5 Skills That Will Help Your Startup In a Small Business Administration study, five characteristics were identified as the most important predictors of an entrepreneur’s success. 1. Drive is the most important attribute. 2. Thinking ability encompasses creativity, critical thinking, analytical abilities and originality. 3. People skills are the ability to motivate employees, sell customers, negotiate with suppliers and convince lenders. [...]