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Being passionate and dedicated is important, but being inflexible about client or market needs will lead to failure. Successful entrepreneurs welcome all suggestions for optimization or customization that may enhance their offering and satisfy client and market needs.
Product and Market Knowledge
Entrepreneurs know their product inside and out. They also know the market. Most become successful because they create something that didn't already exist or they significantly improve an existing product after experiencing frustration with the way it worked.
Strong Money Management
It takes time for any entrepreneurial venture to become profitable. Successful entrepreneurs plan for present and future financial obligations and set aside an emergency fund.
Effective Planning (Not Over-Planning) Skills
Entrepreneurship is about building a business from scratch while managing limited resources (including time, money and personal relationships), which requires planning. Successful entrepreneurs have a business plan in place, but remain capable of dealing with unforeseen possibilities.
The Right Connections
Successful entrepreneurs reach out to mentors with more experience and extensive networks to seek valuable advice. If they don't have the necessary technical or marketing skills, they find someone who does and delegate these tasks so they can focus on growing the business.
By Shobhit Seth | Updated December 15, 2017
INVESTOPEDIA
https://www.investopedia.com/articles/personal-finance/101014/10-characteristics-successfulentrepreneurs.asp?utm_source=personalized&utm_campaign=www.investopedia.com&utm_term=12147163&utm_medium=email
