Every year, hundreds of thousands of businesses are started. Most will fail, some will muddle along, and a few will thrive. Which ones thrive, and why? The reason some businesses experience spectacular sales and profit growth from the start isn’t because they had a lot of money at the beginning. Their fast growth can be attributed to the fact that they were put together the right way.

In every instance, the founders either had or acquired the experience and knowledge they needed to startup and run the business. They recognized what their weak points were, subsequently nurtured alliances, and acquired the skills they needed to start their company off right. They also understood how the various parts of the business fit together to form a total structure and knew that if one part were missing, the total structure would break. For example, they knew that a successful sales plan is directly dependent upon support from the marketing and promotional plans, and that the strategic business plan acts as the glue that holds the entire sub plans together so that they work in concert.

Business professionals have learned a lot about what it takes to become a successful entrepreneur. Entrepreneurs prefer individual sports, such as golf, skiing, or tennis, over team sports. They prefer games in which their own brawn and brain directly influence the outcome and pace of the game. They have drive and high energy levels, they are achievement-oriented, and they are tireless in the pursuit of their goals.

In large, structured organizations, entrepreneurs are easy to recognize by the statements they make: “If they wanted that job done right, they should have given it to me.” A dominant characteristic of entrepreneurs is their belief that they are smarter than their peers and superiors. They have a compelling need to do their own thing in their own way. They need the freedom to choose and to act according to their own perception of what actions will result in success.

Although no one has found the perfect entrepreneurial profile, there are many characteristics that show up repeatedly.

The Entrepreneur:
1. Likes to compete
2. Is a self-starter
3. Is able to determine risk and has the courage to take risks but is not a gambler
4. Is independent and self-confident, yet knows when to get help
5. Is able to do many things at once
6. Likes a challenge
7. Is creative, and has dreams and goals
8. Likes to work for him/herself and be in control
9. Hardworking and willing to stick with a project
10. Is not easily discouraged
11. Is in good health, has lots of energy and can handle stress
12. Has a strong sense of self-worth
13. Is motivated by a strong desire to achieve and attain financial success
14. Is a positive thinker who does not dwell on setbacks
15. Focuses his/her attention on the chances of success rather than the chances of failure
16. Often has a close friend or relative who owns a business
17. Is often a recent immigrant to North America (within two generations)

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