In my journey as a personal finance blogger, I have the privileges to meet up with great aspiring entrepreneurs. I learned a lot from them because they have been unselfish in sharing with me their views and their thoughts on successful entrepreneurship. In fact, yesterday, I met up with the founder of icompareloan, one of the best websites for comparing mortgage loans in Singapore. Below are some of the traits I think commonly found in great entrepreneurs.
1. They note down their ideas (just like my Investment Notebook). If there is an ah-ha moment, they would quickly note it down and revisit the idea again.
2.They think through their ideas over and over again to see if they can be successful. Sometimes their ideas might have been implemented by others. But if they are able to develop a better and more cost-effective way of doing it, then they stand a higher chance of winning.
3. They do their homework and spend tonnes of effort on researching. After all, no generals would like to fight a losing battle.
4. They can sell their ideas effectively. In business, if you cannot sell, you are finished. To make money, you must know sales tactics.
5. Passionate about their ideas. Conviction and belief are key to a successful business idea. A successful entrepreneur would always speak with a belly of fire whenever they touch on their projects.
6. They have no qualms in making many revisions to their business strategies and adapting to changes if it means to making more money.
7. Great entrepreneurs are fiercely resilient and do not give up easily without a good fight. They are not affected by setbacks and would do anything to win.
8. They understand the concept of teamwork and know that not everyone can be good at everything. As such, they are able to work well with people.
9. They are flexible and know when to back out and cut losses. However, they always learn from their mistakes and improve their methods of doing things.
10. They enjoy the process of creation and love the challenges of being an entrepreneur.
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SG Wealth Builder