Michael Newman’s latest é-Wealth Daily’ article is titled “Cultivating the 12 Traits You Need to Succeed; Part 2”. [‘e-Wealth Daily’Article]

Michael Newman’s latest ‘e-Wealth Daily’ article:

Cultivating the 12 Traits You Need to Succeed; Part 2

In my previous article, I began talking about the important character traits shared by entrepreneurs. Today, I’ll go over the final seven.

6) Sense of Ability and Confidence: In addition to having a thick skin, you have to have a true belief in yourself that you can succeed. This means trusting your ability and having confidence in yourself to get your business off the ground. Being a successful entrepreneur can be mentally challenging, and maintaining a high perspective of yourself can really help add to your success. If you are always thinking you’re going to fail, you probably will.

7) Relative Grasp on Reality: The reason I say a “relative grasp on reality” is that to be a successful entrepreneur you must know what is possible and in the realm of reality, but at times you also must be able to completely ignore it. This means that you want to keep your goals realistic, but set your sights on things that may appear larger than life. Ask yourself the all-important “what if” questions and imagine a realm of possibility for which your plans could materialize.

8) Creativity and Vision: It’s important to be creative in your business approach, as well as to have a vision of where you’d like your business to be. It will be these visions that will help you set your goals, and let you track progress and stay hungry. Hunger is a key to becoming a successful entrepreneur, and exercising creativity and building a vision provide fuel.

9) Dealing with Risk: The best way to deal with risk is to be confident in your decisions. After all, if you approach something thinking you’re going to succeed, is it really a risk, or is it simply another task? Once you build the confidence to believe you will succeed and visualize results, decisions and actions will begin to feel less risky and more like opportunities you must seize. That being said, it’s always important to assess the gain/loss ratio to see if you’re making a worthwhile decision.

10) Separating Egos from Ideas: No matter how great you think your idea is, you must do your best to avoid falling in love with it, and realize that it is fallible. At certain times, you’ll need to rely on the advice of others or realize when something just isn’t working. At this point, you may consider taking your idea back to the drawing board, making some changes, and trying again.

11) People Skills: If you’re looking for capital or other forms of assistance, you’ll want to know how to network and talk to people. You’ll have to be able to make them trust you, while being able to concisely and accurately explain your ideas. Basically, you’ll need to develop excellent communication skills to articulate your ideas. Also, when seeking funding from venture capitalists, it always recommended that you can show them at least one other investor or partner who has become involved.

12) Knowing When to Get Out: Many entrepreneurs operate mainly on instinct when it comes to making the important decisions about their business. However, when things get to a certain point and the operation gets too big, it may be worthwhile taking a good offer when it’s presented. There is nothing wrong with rewarding yourself with a big pay day after selling your company, then heading back to the drawing board and doing it all again!

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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