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6 Essential Character Traits of an Entrepreneur

Do You Have What It Takes To Be a Successful Home Business Entrepreneur?

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Businessman examining office chair installation art
Martin Barraud/ Caiaimage/ Getty Images

Daydreaming about telling your boss to shove it and actually doing it requires confidence in an alternative plan and trust in your abilities to execute the plan. If you are serious about striking out on your own and starting a home-based business, make sure you come to the table with these essential character traits of an entrepreneur.

  1. Self–Motivated:

    One of the major draws of starting a home business is the idea there will be no one breathing down your neck while you work. A home business would free you of imposed bureaucracy and time wasting exercises (remember those good ‘ol “TPS Reports” from Office Space)?

    But being your own boss doesn’t automatically turn you into a model manager. The home business dream can only become a reality if you have within you a healthy dose of self-motivation. Owning a business requires you to do tasks you won’t always like (sales, accounting, taxes…), and without an employer looming over you to ensure you finish your work -- or get out of bed -- the only way it is all going to get done is sheer personal determination.

  2. Hungry:

    It doesn’t matter what kind of hungry you are. Whether you are so broke you haven’t eaten in two-days or just hungry for a challenge, hunger pangs will help create the drive necessary to get your business off the ground and growing.

    Many of the really great home business success stories come from disastrous circumstances. Many of the well-known network marketing success stories are wrapped around individuals who lost their job, couldn’t feed their family, and were about to lose their home. Why were they able to generate so much success in such a short amount of time? Talk about being hungry, these individuals were literally starving, and as a last resort they opted to start selling a product through a network-marketing channel. Their drive led them to success.

  3. Resourceful:

    Let’s face it; most home businesses are born from skid row. In the early days of business set-up, there just isn’t much funding available to pay for all the things the business needs. This is where resourcefulness comes in. Just like MacGyver, you are going to need to fashion a Fortune 500 business out of a couple hundred bucks and your kitchen table. Impossible? No way. A challenge requiring research? Definitely.

    Stepping out of your comfort zone to enlist friends and family to help market your business can save you tons of cash. Additionally, buying office supplies when they are on sale can put cash back in the coffer, and using social media and blogging as a free way to generate interest in your business can payout huge dividends. Finally, using the many free or low-cost online tools to help build your business website or infrastructure can help keep your business in the black.

  4. Adaptable:

    "A can-do attitude will take you far in life.” Despite how cliched this bit of advice may sound, it is actually right. A positive attitude and willingness to roll with the punches is imperative for home business success.

    When starting a business, you are going to run into situations and tasks where you don’t know the answers. Rather than running away or giving up before you get your business off the ground, commit to being solution-oriented. If you aren’t sure how to host a product party for your new network marketing business, start researching. If you are nervous about how to talk to people about your new business, just start talking. Blunders and mistakes are going to happen. Nobody is perfect. But being versatile and adapting to the new situations you will face, can guarantee your business’ longevity.

  5. Personable:

    Most home businesses are people businesses. Whether you are teaching piano lessons, offering freelance consulting to a list of clients or selling a product or service out of your home – you are dealing with people.

    Why is it important to take a hard look at yourself to determine if you are personable or not? Customers won’t return if they had an awkward interaction with you. Bad reviews and ratings by customers can reverberate throughout your business for years. Make it a point to critic yourself regularly. Ask a friend or confidant to be brutally honest with how you are delivering your sales pitch or practice to determine how compelling your party hosting capabilities are becoming. Being able to take feedback, even when it stings, is a sign of an entrepreneur destined for success.

  6. Persuasive:

    Let’s cut to the chase. A home business is all about effectively selling a product or service. A successful entrepreneur is able to influence other people’s buying decisions. You need to be able to talk to people and convince them to take action (often referred to as a call-to-action). Good selling isn’t always some slimy dude in a polyester suit. Rather, it is a memorable and charismatic conversation with an individual who is persuasive and compelling. It is much easier to be naturally persuasive about something when you truly do believe in it. So find a business you love, find a product you believe in and success will follow.

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