About Advice > Startup

Do You Have What It Takes?

What does it take to be an entrepreneur? Which personality traits make for success? Let's see if you have what it takes.

FICTION: To be an entrepreneur you must be born that way.

FACT: Anyone can learn to operate like an entrepreneur.

What are the similarities of successful entrepreneurs?

• persistence
• desire for immediate feedback
• inquisitiveness
• strong drive to achieve
• high energy level
• goal oriented behavior
• independent
• demanding
• self-confident
• calculated risk taker
• creative
• innovative
• vision
• commitment
• problem solving skills
• tolerance for ambiguity
• strong integrity
• highly reliable
• personal initiative
• ability to consolidate resources
• strong management and organizational skills
• competitive
• change agent
• tolerance for failure
• desire to work hard
• luck

Many entrepreneurs also had:

• a role model to influence them early on
• parents who were entrepreneurs

Two traits necessary for successful entrepreneurs are creativity and innovation.

WHAT IS CREATIVITY?

Creativity is being able to create new ideas and ways to solve problems that provide cool opportunities.

Characteristics of Creative People

• bright
• adaptable
• high self esteem
• challenge-oriented
• idea-oriented
• inquisitive
• curious

Can you improve your creativity? YES! How?

• gather as much information as you can (read, talk with experts, etc.)
• "brainstorm" over time

Just think about the problem or issue until an idea comes to you.

• Is the solution reasonable? If so, try it. If not, keep thinking.
• Did it work? If so, great. If not, begin the process over again.

Don't put barriers on your mind. Put these steps to use.

Left Brain	Right Brain
Analytical Rational	Intuitive Artistic

You need both sides of your brain when being creative because they compliment each other.

WHAT IS AN INNOVATION?

• something that is invented (ex. CD's) or
• something that is created from an existing idea or product (ex. Super Wal-Mart)

Where do innovative ideas come from?

• unsatisfied customers
• demographic changes in society
• luck
• imagination
• vision
• problem-solving

Remember:

• look for new ideas
• keep it simple
• start smal
• try, try, try again