Presents

TRAITS OF AN ENTREPRENEUR
Becoming a Successful Business Owner

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Table of Content
Entrepreneur.........................................................................................1 Traits of an Entrepreneur......................................................................2 Objective...............................................................................................3 Proactive...............................................................................................4 Ability to prioritize..................................................................................5 Adaptable.............................................................................................. !nfor"ed................................................................................................# $%illful in collaboratin&..........................................................................' (eader...................................................................................................) Able to si"plify......................................................................................1* Prepared...............................................................................................11 +esourceful...........................................................................................12 +einventive...........................................................................................13 Advanta&eous.......................................................................................14

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ENTREPRENEUR
,any people drea" of o-nin& a business. T.ey see t.e benefits of bein& financially independent and are dra-n to t.e idea of bein& t.eir o-n bosses. T.ey put a lot of ener&y into t.in%in& of -ays to ta%e t.eir idea and turn it into a solid runnin& enterprise. /eco"in& an entrepreneur can be beneficial and life fullin&0 but entrepreneurs are a special breed of people. T.ey are individuals -.o ta%e c.ances and believe in for&in& t.eir o-n destinies. To beco"e a successful entrepreneur it is i"portant to possess certain traits. T.ese traits are in&redients t.at enable entrepreneurs to start and run a successful enterprise. T.is boo% e1poses t.e stren&t.s of successful entrepreneurs and provides &uidance and advise for t.e potential entrepreneur.

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TRAITS OF AN ENTREPRENEUR

OB ECTI!E PROACTI!E ABI"IT# TO PRIORITI$E A%APTAB"E INFOR&E% S'I""FU" IN CO""ABORATIN(

"EA%ER AB"E TO SI&P"IF# PREPARE% RESOURCEFU" REIN!ENTI!E A%!ANTA(EOUS

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OB ECTI!E
$uccessful entrepreneurs usually .ave a clear understandin& of -.at t.ey -ant and "ost i"portantly0 t.ey do not allo- t.eir decisions to be &uided by t.eir e"otions. Every business decision s.ould serve t.e &oal of t.e co"pany.

/usiness decisions s.ould be "ade strate&ically. +efrain fro" bein& i"pulsive. !t2s i"portant to consider all possible outco"es -.en "a%in& decisions. +e"ain open3"inded and approac. situations -it. confidence. /ase "ajor decisions on facts and avoid entertainin& opinions.

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PROACTI!E
Entrepreneurs need to be proactive. T.ey understand t.at not.in& -ill &et done unless t.ey put in t.e effort and ta%e action. /ein& proactive can prevent entrepreneurs fro" bein& cau&.t off &uard. T.is s%ill can enable t.e" to foresee and solve future proble"s.

4o tas%s0 assi&n"ents and projects t.at can benefit t.e business i""ediately. 5reate a c.ec%list for eac. co"pleted tas% t.at is &eared to-ards revie-in& t.e 6uality of t.e outco"e. Plan out -orst case scenarios and .o- it -ill be .andled. +esolve issues and situations i""ediately as t.ey occur. (oo% for and create opportunities for t.e business.

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ABI"IT# TO PRIORITI$E
7.ile "ultitas%in& is i"portant0 prioritizin& allo-s entrepreneurs to focus on t.e "ost i"portant tas% at t.at point in ti"e. A &ood a"ount of effort and resources s.ould be dedicated to co"pletin& t.e tas%s t.at are "ost pressin&.

8eep an a&enda for t.e business and update it daily to "a1i"ize efficiency. 7.at is it t.at -ill brin& t.e business t.e "ost benefit9 :ocus on t.at until it is co"pletely done0 t.en "ove on to t.e ne1t ite" on t.e a&enda. 5ut out any -or%load t.at -ill not provide any benefits to t.e business. 4o not overe1tend t.e business by puttin& ener&y into t.in&s t.at can be postponed.

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A%APTAB"E
/ein& adaptable to any situation is very i"portant. /usiness o-ners "ay t.in% t.at t.ey .ave everyt.in& under control and t.at t.eir plan -ill -or% out fla-lessly0 but successful entrepreneurs understand t.at circu"stances "ay c.an&e and t.ey "ust find a -ay to -or% around unforeseeable occurrences.

4on2t be afraid to &o in a different direction -it. t.e business. (oo% at alternatives to t.e -ay t.e business functions. 4iversify t.e source of inco"e for t.e business. ;ave a variety of s%ill sets and talent at t.e business2 disposal.

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INFOR&E%
$uccessful entrepreneurs are infor"ed. T.ey .ave a clear understandin& about t.eir business. T.ey %no- t.e ins and outs of t.e enterprise t.at t.ey o-n. Entrepreneurs s.ould not &et involved in a business -it.out doin& substantial researc..

!t is i"portant learn as "uc. as possible about t.e business and t.e industry. 8no- t.e plans and actions of co"petitors. <nderstand t.e custo"ers and t.eir purc.asin& .abits. +ead boo%s and listen to audio pro&ra"s. Attend se"inars0 ta%e courses and -or%s.ops re&ularly to stay current -it. trends.

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S'I""FU" IN CO""ABORATIN(
$uccessful entrepreneurs -or% -ell -it. ot.ers0 t.ey understand .o- to levera&e ot.ers to pro"ote t.eir business. T.ey stay involved -it. people -.o -ill positively i"pact t.eir business. ,ost i"portantly0 t.ey .one t.e craft of dele&ation and co""unication.

(ean .o- to -or% efficiently -it. ot.ers. <se ot.ers2 s%ills and talents to ac.ieve t.e &oals of t.e business. ;elp ot.ers ac.ieve t.eir &oals and t.ey -ill return t.e favor. <se various tec.nolo&ies li%e social "edia and video conferencin& to collaborate. <se sc.edules and deadlines to .elp coordinate -it. ot.ers.

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"EA%ER
/ein& a leader is very i"portant. Entrepreneurs "ust be decisive and accept accountability for t.e state of t.eir enterprise. T.ey s.ould ta%e t.e initiative -.en t.ey lead and learn fro" any "ista%es. T.e entrepreneur is t.e final person t.at t.e business or&anization loo%s to for &uidance.

As t.e entrepreneur0 ta%e c.ar&e of t.e enterprise. T.e business s.ould .ave a sin&le vision and a clear set of instruction. ;avin& too "any leaders can cause "isunderstandin&s t.at lead to unfavorable results. /e a leader t.at unifies t.e efforts of everyone involved.

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AB"E TO SI&P"IF#
Entrepreneurs s.ould ta%e t.e si"ple approac. to t.eir business and life. T.ey s.ould not do anyt.in& t.at does not benefit t.eir business. Entrepreneurs s.ould adopt t.e .abit of bein& direct.

4o not do everyt.in&0 dele&ate tas%s t.at ot.ers can do. Eli"inate all useless tas%s and activities. :ind -ays t.e business can function s"arter and "ore efficiently. 5reate plans t.at .ave clear and unco"plicated instructions. Outsource co"ple1 tas%s to e1perts and specialist.

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PREPARE%
+unnin& a business can be very unpredictable. 8no- "atter .o- "uc. a business o-ner plans0 t.ey -on2t be able to foresee everyt.in&. /ein& prepared allo-s t.e entrepreneur to avoid e1cessive losses and setbac%s t.at co"e -it. uncontrollable circu"stances.

=et insurance to avoid t.e -orst possible outco"es. <se c.ec%lists to protect t.e business fro" losses. $etup an e"er&ency fund. Pay attention to custo"ers2 needs > t.e "ar%et. $etup provisions t.at -ill protect a&ainst losses and reversals.

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RESOURCEFU"
Entrepreneurs s.ould %eep t.eir e1penses lo-. $uccessful businesses are financially savvy businesses. ?ot only is it i"perative to bud&et "oney0 but ti"e as -ell. Entrepreneurs s.ould "a%e s"art financial and business decisions0 t.is -ill allo- t.e" to 6uic%ly overco"e difficulties.

5reate an audit and find costs -it.in t.e co"pany t.at can be cut. <se and study t.e business cas. flo- and balance s.eets. 5o"plete business tas%s -it.in as little ti"e as possible and -it. t.e least a"ount of "oney0 -it.out co"pro"isin& 6uality. T.e business s.ould .ave a cas. reserve. Any purc.ase of ne- e6uip"ent or reinvestin& into t.e business s.ould be studied t.orou&.ly.

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REIN!ENTI!E
S2ccessf2l ent3e43ene23s constantl5 wo3k on wa5s to 3ein6ent t7ei3 b2siness. T7e5 t35 an8 im43o6e t7e skills t7at t7e5 al3ea85 7a6e. T7e b2siness wo3l8 is constantl5 c7an9in9: so ent3e43ene23s a3e constantl5 im43o6in9 an8 2493a8in9 to com4ete in t7is com4etiti6e wo3l8.

C7an9e b2siness met7o8s to fin8 mo3e efficient wa5s to o4e3ate. C7an9e 8ail5 3o2tines to sta5 stim2late8. Be c3eati6e an8 inno6ati6e in t7e a443oac7 to 8oin9 b2siness. Re;e6al2ate an8 im43o6e on t7in9s in t7e b2siness. "ea3n a new skill t7at can be of 93eat benefit to t7e com4an5.

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A%!ANTA(EOUS
S2ccessf2l ent3e43ene23s a3e 6e35 a86anta9eo2s. T7e5 belie6e in followin9 t73o297 an8 9i6in9 111< effo3t. Ne6e3 slow 8own: seek o2t o44o3t2nities an8 a443oac7 t7em at f2ll s4ee8.

E6en afte3 com4letion: follow 24 on all tasks an8 43o=ects. (i6e 111< effo3t at all times. Take a86anta9e of b2siness o44o3t2nities. Ne6e3 9i6e 24 easil5: alwa5s t35 to fin8 a sol2tion. Alwa5s seek to im43o6e skills an8 b2siness 43o82cti6it5.

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Acknowle89ments
Author: =re& 5ooper Images provided by: ---.freedi&italp.otos.net0 $tuart ,iles0 $alvatore @uono0 ?aypon&0 ,aster isolated i"a&es0 renjit. %ris.nan10 jannoon*2'0 ddpavu"ba0 sup.a%it#30 arte"isp.oto0 s"arnad.

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