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After reviewing the article on 10 essential characteristics of entrepreneurs that are highly successful, I can see the importance of possessing each quality. Creativity is definitely a must have, and I thought it was appropriate that the article listed this characteristic first. Being open to an unlimited amount of ideas can lead to new innovative ways to market and conduct your business (EBS, 2019). Additionally, creativity helps with new ways to develop one’s product, which may be necessary since more than half of businesses fail within the first four years of opening (Scarborough & Cornwall, 2019). Passion is also key for an entrepreneur to have because if one has no passion, how could they have the drive to see their business through to the finish line?
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Motivation is another characteristic that I found to be one of the most important out of the 10 listed. An entrepreneur needs motivation to be successful, and this trait goes along with being passionate. If an entrepreneur is not willing or ready to put in the work and long hours towards launching their business, they will have an extremely difficult time finding success (Patel, 2017). How many highly successful entrepreneurs are extremely pessimistic? Optimism is important because the entrepreneur must have the ability to stay positive and focus on moving their business forward. Being optimistic goes along side with the ability to be future-oriented, because this characteristic helps the entrepreneur with setting and achieving their goals. Furthermore, one could also say that the amount of optimism and being future-oriented can depend on the motivation level of the entrepreneur.
The characteristic of being persuasive helps an entrepreneur become successful because it is important to reach people and have them believe your ideas. Flexibility is a vital trait, and I believe it is very similar to being resourceful because, they both showcase the importance of an entrepreneur’s ability to adapt to the challenge of learning every role that makes a business work. Being open-minded and facing problems head-on is another reason why being flexible and resourceful are key traits to an entrepreneur’s overall success.
The last two characteristics that were discussed in the article were being adventurous and decisive. The ability to be adventurous plays a role in the overall success of a business because the entrepreneur must have the ability to take necessary risks. Decisiveness is important because if an entrepreneur is constantly procrastinating, they will let countless opportunities pass them by (Patel, 2017). Overall, I thought this article was very interesting and highlighted the importance of all 10 characteristics that belong to highly successful entrepreneurs.
Eaton Business School (2019). The role of creativity in entrepreneurship. Retrieved from
Patel, S. (2017). 10 Essential Characteristics of Highly Successful Entrepreneurs. Retrieved from
Scarborough, N., & Cornwall, J. (2019). Essentials of Entrepreneurship and Small Business
Management (9th ed). Boston: Pearson