Entrepreneur Characteristics: Personal Qualities of an Entrepreneur (Part 1)

What makes an entrepreneur is a complex question. It includes factors from the environment in which an individual was raised, his or her family situation, and his or her personality traits. This question has been the subject of a great deal of both study and research. The following discussion is a summary of my own observations plus some of the conclusions of others.

About 20 or 25 years ago if you asked almost any expert to describe a successful entrepreneur, you would probably have been given a list similar to this:

Male

Only child

About 35 to 45 years old

Bachelor's or master's degree in engineering

Protestant

Born in the Midwest

Father owns a hardware store

As a youth, delivered newspapers and sold lemonade

Should you be concerned if you do not fit this stereotype? Absolutely not. Very few of these are factors that determine whether an entrepreneur succeeds or fails.

However, much recent research and many of my own observations seem to indicate that there are qualities commonly found in successful entrepreneurs, and there are things that you can do if you are concerned about any you may lack. Many writers on this subject seem to be primarily concerned with the qualities found in successful entrepreneurs. I look at the questions a little differently and believe it is equally as important to consider those traits that successful entrepreneurs usually do not have and those traits that simply do not matter.