Qualities of an entrepreneur that make him successful

Larry Ellison and Bill Gates – Founders of Giant Software Corporations: Oracle and Microsoft.

The “great and terrible” Larry Ellison is charming and charismatic, but can turn into a devil employer. It’s not difficult for Ellison to tell a person that he’s “complete shit” if he is not doing his job. There is a rumor about a billionaire that he brought one of his best programmers to suicide, and at an evening of remembrance he said that he was not a good person.
Bill Gates is the opposite. Philanthropist and founder of several charitable foundations. He dreams of eradicating poverty and conquering disease. Bill leads a modest lifestyle, wears a Casio watch for $ 15 on his hand, and can easily stand in the general queue for a burger. He is an exemplary family man – he and his wife Melinda have been together since 1994. True, adventure is not alien to Gates: in his youth he became interested in racing in the desert on a Porsche so that he was detained for violating traffic rules.

Both of these people are leaders, billionaires and examples for others. Each of them adheres to its own formula for success, like other businessmen. But despite this, many people with entrepreneurial housing have common qualities.

Moral qualities of an entrepreneur

1. Honesty

In business, superiority over others matters. The desire to achieve it pushes many to dishonest moves.

Sergei Galitsky, a former owner of the Magnit chain of stores, warns: “If you break the rules of the game, then there is no point in doing business.

This is no longer a business, this cannot be done. When you cannot win honestly in business, you will lose sooner or later. We need to work harder, be more experienced, smarter, more talented. From these nuances is the victory ”.

2. Stamina

An entrepreneur is a strong leader. He is respected by competitors and employees. Such a person is not afraid of challenges.

Elon Musk, CEO of Tesla, says this: “In order to start a business you need to have a high pain threshold. Starting a business is like eating glass and looking into the abyss.

When you first started a company, you are optimistic. Happiness is high. Then you are faced with a bunch of different problems, happiness is slowly declining. And then you will go through a whole world of suffering. If you manage to overcome everything, you will return to happiness again. ”.

3. Empathy

The ability to put oneself in the place of another is an unobvious plus for an entrepreneur. It helps someone to develop a good corporate policy. Someone needs to get into the skin of a client to understand how to become better.

An example is Ingvar Kamprad, founder of IKEA. One of the main mischief-makers in the world who drove an old car and demanded that employees use office paper on both sides. But he himself spoke of it this way: “When I think how much I can spend on myself, I ask myself, can IKEA clients afford the same amount?”.

4. Modesty

This quality helps maintain sanity. It is closely connected with a sense of justice, the ability to respect others. Not all entrepreneurs are modest, but those who possess this trait do not interfere.

Amancio Ortega, the owner of the Zara brand, is an example of how one can be rich, but reserved and modest. He dines with his staff, flies in economy class and lives in an apartment in Spanish A Coruña.

Business qualities of an entrepreneur

1. Practicality

Money should work, not satisfy a whim. In the West, millionaires rarely buy huge houses and expensive cars. For them, this is a large maintenance cost in the absence of dividends. A similar approach works in business: if you invest in something that does not make a profit, it’s a waste.

A striking example of the practicality of Warren Buffett. In 2010, a businessman who is one of the ten richest people in the world, dined with other billionaire – Bill Gates – in McDonald’s. When paying, he used discount coupons..

2. Hard work

Despite the condition and large staff, most millionaires in Russia and the world work a lot.

Oleg Tinkov, founder of the Tinkoff IT bank, says to himself: “I don’t understand how you can not work. No, I’m happy to rest for two weeks. I’m reading a book, I’ll sit on the Internet, I’ll drink a pin of Colada, but in two weeks I’ll start to fidget. And in a month I’ll run away from there, swim away from this island. You have to work 100% of your life.

Eugene Chichvarkin, owner of Hedonism Vine, a London wine store, says of workaholism: “A workaholic resembles a driver who drives a car at a very low speed for a long time and purposefully. Because the transmission did not guess to switch. He has a process for the sake of the process. It is better to be a resultaholic – to work for the result. Better yet, victorious. ”.

3. Foresight and observation

A good business satisfies a customer’s request and evolves with how that request changes..

Mikhail Fridman, owner of Alfa Group, advises: “In order to do business, you need to clearly feel, not at the level of calculations and analytical reviews, but at the level of intuitive, internal perception. Some kind of need, which is worn in the air, which is not satisfied in society.

So we started. They didn’t come up with any smart businesses, but thought that we ourselves needed our friends and acquaintances. I assure you that if you listen to your inner voice and the opinions of others, then you will quickly understand what can be called for ”.

4. The ability to delegate

The ability to delegate is the ability to trust and correctly evaluate a person’s potential, not to overload him, but use productively. A growing business is turning into a giant machine that cannot be driven alone. We need helpers and reliable specialists.

“I’d rather get 1% of the money as a result of the efforts of 100 people than 100% as a result of my efforts” – Paul Getty, American oil tycoon, the richest man in the world in 1966.

Personal qualities of an entrepreneur

1. Perseverance and self-confidence

Different circumstances, crisis conditions and mistakes affect how things go. It’s important not to lose heart, learn from mistakes and try again.

Soichiro Honda, founder of Honda Motor, says: “Many dream of success. For me, success is the overcoming of constant failures. Essentially, success in any business is one percent, while failure is ninety-nine. ”.

“Looking back at my work, I feel that I was doing nothing more than a series of mistakes, serious omissions. But I am proud of the achievements. Although I made one mistake after another, mistakes and failures never occurred on the same occasions. ”.

2. Learning

The world is changing. Many strategies are becoming obsolete. A successful entrepreneur is one who is not afraid of the fresh, is ready to learn and develop..

This is confirmed by Donald Trump: “Finance and business are dangerous waters in which gluttonous sharks go around in search of a victim. In this game, knowledge is the key to power and authority. Spend money to know what you are doing. ”.

3. Passion

It is difficult to be hardworking if you are doing what you are indifferent to. It is passion that gives strength to start again and believe in the future of projects.

Arkady Novikov, Russia’s chief restaurateur, tells a story about this: “When my mother brought me to the culinary school, I almost immediately realized that I liked it. I especially never did anything at home in the kitchen, and when they gave me a knife in the school and I started cutting potatoes with straws – this was the first pleasure of cooking.

Then I realized that cooking is such a mosaic, a designer, from which everything is made up. You are like an artist during your work. I felt it then and I liked it ”.

4. The ability to take risks

Business is inseparable from risk. But this does not turn entrepreneurship into roulette. A successful businessman is able to assess risk, study the situation, consequences and develop a flexible strategy.

Moed Altrad, owner of the Altrad Group (one of the largest cement producers), has lived most of his life in poverty. But then he took a chance and bought a bankrupt plant. Without industry experience, Moed quickly explored the market, made a profit, and was able to scale the business..

“Your every risk is worth it if it is the reason for success and a good life.” – Richard Branson, founder of Virgin Group.

Negative qualities of an entrepreneur

• Selfishness. The rules of success are such that you need to choose between business, family or friendship. It’s easier for natural born egoists.

• Cynicism. Sometimes you need to make tough but profitable decisions..

• Adventurism. Big risk helps to earn on revolutionary projects. But high chances to burn out.

• Incredulity. Such a quality is a plus, but sometimes it makes it difficult to discern promising ideas..

• Narcissism. For some, it leads to high expectations, while for others it leads to a manic desire to be the best in everything.

• Greed. Not everyone sets an example of generosity. Unwillingness to share money can affect personal reputation and business.

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