Do You Have the Characteristics of an Entrepreneur?

What Is an Entrepreneur Anyway?

If you want to succeed online, you'll need to have the characteristics of an entrepreneur. Being an internet entrepreneur isn't for everyone. So what is an entrepreneur exactly? Read on...

So, we've been talking about what a home business might entail, as well as pros and cons of owning one. I even gave you an overview of the types of online home businesses available. So you know what you can do as an home business entrepreneur.

The question is, do you have the right personality traits and characteristics of an entrepreneur? Not everyone does, and there's no shame in that. But, before you give up your day job and/or sink money, time and effort into an online home business, you ought to have some idea what it might take to be an internet entrepreneur.

So...

What Is an Entrepreneur?

Like most things in life, the answer to the question above is not necessarily black and white. Sometimes people succeed beyond all odds, on sheer guts and determination... or maybe incredible luck. But research has found that entrepreneurs and successful home business people do share some common characteristics, including those in the following list. I've also added some traits I have found to be valuable.

• Good health. Starting your own home business takes a lot of energy over an extended period of time. It can be hard to maintain that if you're not healthy. Now, there are many disabled people who build successful businesses, but still most of them probably didn't accomplish their success while still battling health issues. They got to a point of relative "healthiness" first. So, the thing to concentrate on here is staying healthy while you build your business (and after). Practice healthy living habits and take care of yourself before your business. After all, if you're not there to do the work, it's not like you'll have a staff to fall back on... at least not in the early stages!

• Desire to control and direct. An entrepreneur wants to be in charge, to be the one directing the direction of the business and making the important decisions. If you don't want to do that, then becoming an internet entrepreneur is probably not for you. Going along with all that, is the self confidence to trust in your decisions.

• Motivation and strong work ethic. Starting an online home business is hard work, no two ways about it. There is no easy way to success. Talk to any self-made entrepreneur and he or she will tell you the same. It took a lot of sweat equity to get where they are now. Do you have the internal drive and motivation that will be needed?

• Vision & conceptual ability, but also follow through. To succeed in business, you need a certain amount of ability to visualize the future, to "see" in which direction you want to go. You have to be able to conceptualize. But all the great ideas in the world won't take you to a place of success. You also have to be able to implement them. Follow through is essential.

• Passion for something. Strictly speaking, passion may not be absolutely essential to business success, but if you don't think you'll enjoy what you plan to do, then why do it? And chances are, your success will be greater when you truly believe in what you are doing, selling or offering. If you find the word, "passion" offputting for some reason, then think at least in terms of being enthusiastic.

• Attracted to change and challenges. This may be one of the more subtle, but important characteristics of an entrepreneur. Change is part of the business world, especially the online business world. New trends emerge almost daily; technology is changing at the speed of light... or faster. And there will be challenges — lots of them. How you react to change and to the challenges will determine your degree of success as an internet entrepreneur.

• Prudent risk taker. Risk is inherent in starting any new business, and especially something seemingly as volatile as an online home business. Planning to give you your day job for this new business? Now that's a huge risk? Or at least it feels like it is. Regardless, if you're going to succeed as an entrepreneur, you're going to have to take that flying leap into the unknown and embrace the risk wholeheartedly. BUT... at the same time, don't just accept any and all risks willy nilly. Spend your money wisely, get the facts and do your due diligence before you take that leap. That's what'll make the difference.

• Able to learn from failure and move on. We all make mistakes or take missteps. In fact, if you study successful entrepreneurs, you'll find very few of them achieved success in their very first business venture. Failure is almost inevitable. But failure can be a wonderful teacher, if you allow it. Learn from your mistakes, so that you can become smarter and stronger. And don't let failure get you down... overcome it!

• Persistent/Perservering. What is an entrepreneur? It's someone who always keeps going, no matter what, just like the Energizer bunny! An entrepreneur keeps his/her eyes on the prize and keeps working at it until success is at hand. You don't quit because the going gets tough or something doesn't work out exactly as planned. You figure out how to overcome any barriers and you just keep chipping away. This trait requires that self confidence and motivation mentioned earlier.

• Resourceful problem solver. Yes, there will be problems along the way. Are you creative enough and resourceful enough to think of ways to solve those problems? Do you know how to tap into the expertise of others if you need help? Are you willing to ask for advice from others? Can you think "outside the box" when needed?

• Organized, disciplined and attends to detail. I think you can probably succeed as an internet entrepreneur even if you are messy and disorganized, but I also think it's going to take you a lot longer to get there. So if you want to start your own online home business and you're not already an organized person, you're going to need to acquire those skills. And you also have to be disciplined enough to stay focused and on-track with your business goals and plans.

• Creative. I believe that creativity comes in many forms. Most people think of it in terms of artistic skill (being able to draw or paint), but I think creativity goes far beyond that. There are so many ways to be creative. For instance, I am a writer – that's creativity. I also quilt... I can't really devise my own patterns, but I do have a great eye for color. That's creativity too. My husband doesn't have an artistic bone in his body, but I call him the "idea man." He can almost always think of new and different ways to do just about everything. That's creativity also. My oldest daughter insists she's not creative. But, she has an ear for indie music and a special knack for picking up foreign languages. You can't tell me that's not creativity. But anyway... if you want to set yourself apart from your competitors — and you will have competition, believe me — then you're going to need to get creative.

• Attention to work-life balance. This kind of brings us back to the first characteristic of an entrepreneur, good health. I don't think you can be healthy if you don't have balance in your life. Take it from someone who went through burnout from too much focus on career and not enough on the other aspects of life. It's not healthy. So, you'll have to be able to temper that "Type A" personality that so many entrepreneurs tend to have and take some time off. Focus on playing and spending time with family and friends. Getting away from your business, however briefly, will give you a fresh perspective too.

In Summary

So there you have it... some of the most important characteristics of an entrepreneur. Hopefully, now that you've read down here, you're not still asking What Is an Entrepreneur. So, what do you think? Do have what it takes to be an internet entrepreneur? If not, can you develop those skills? These are important questions that you need to resolve before you move on, so take time for some personal reflection and soul searching, OK? Believe me... it'll be well worth your time and effort!