4 Things Most Successful Entrepreneurs Have in Common
Posted by lavanya bharathy on June 26, 2015
Category Business & Entrepreneurs

Professional experience

Professional experience gives entrepreneurs the edge they need to make wise business decisions. Entrepreneurs with a track record of success are two-and-a-half times more likely to raise more money, 3.6 times more likely to see better user growth, and 52 percent less likely to scale prematurely, the info graphic revealed.

A business plan

Taking the time to write a business plan not only gives your business direction; it also improves your odds: companies with a business plan see nearly twice the success as those without a business plan, SCORE found. Those companies who create business plans also see higher business growth and are more likely to secure capital and loans.

Positive personality

Think you can succeed as an entrepreneur just by being you? If you're overly aggressive and unapproachable, think again. The most successful entrepreneurs are beaming with positive traits, such as openness and agreeableness. The least desirable traits include narcissism, making excuses and emotional instability. Also, while being aggressive can often work to your advantage, entrepreneurs need to kick the bad habit of predatory aggressiveness if they want to be successful, SCORE found.

A Mentor

New businesses shouldn't have to go at it alone. The most successful business owners have relied on some form of mentor ship to provide guidance and keep them on the right track. Entrepreneurs who work with mentors are three times more likely to start a business, seven times more likely to raise investment money and three and a half times more likely to grow demand for their product, the info graphic shows. They are also more likely to thrive; although many businesses fail within their first year, 84 percent of ventures that work with mentors are still in business after one to two years.

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