Top 10 Qualities of a Great Entrepreneur or Business Leader
Updated: Jan 28
Why are some people drawn to entrepreneurship while others can only imagine working for someone else? What makes some entrepreneurs wildly successful where others fail? The top 10 personal qualities needed for a great business career are discussed below.
Top 10 qualities of a great entrepreneur or business leader
Passion. A successful entrepreneur has a passion about a particular product or service and /or a passion for business. Without this passion, there would be no motivation to put in the hard work.
A drive to succeed. Great business leaders and entrepreneurs have a high level of ambition and drive to succeed. Their desire to achieve goals is what gets them up each morning to make it happen!
Creativity. A high level of creativity and being able to think outside the box are often what give entrepreneurs a great business idea but they’re also important traits for solving inevitable challenges.
High risk tolerance. Without taking a risk like quitting a day job or borrowing money to start a business, there would be hardly any new small businesses. Entrepreneurs tend to have a high risk tolerance which means that they are more likely to “go for it” when they have an idea than the average person. They are also more likely to take more risks in order to take the business to the next level.
Leadership skills and likeability. When building a business there comes a point where employees or contractors are needed to get all the work done or grow the business. Great entrepreneurs use leadership skills and likeability to inspire people to follow their vision and motivate employees to work hard for the business.
Self-motivated. Good entrepreneurs and business leaders wake up each morning with the desire to work and advance their business. People who need direction from others are not suited to these roles.
Ability to understand personal strengths and weaknesses. Effective business owners lead with their strengths and are humble enough to recognize what tasks to hand over to employees or outside experts.
Desire to out-perform the competition. Some of the most successful businesses started because an entrepreneur saw how another business was selling a product or service and came up with a better idea. Having a competitive spirit keeps entrepreneurs at the top of their industry.
Business sense and knowledge. Some people are born with a business sense but having knowledge about local, national and international markets, marketing, economics, technology, sociology and history can improve an entrepreneur’s chances of success.
Integrity. Integrity means that a business owner follows laws while growing their business. They build a reputation by behaving fairly and responsibly to their employees and their customers.
A great business leader does not need to be skilled in HR because we’ve got you covered through HR outsourcing! When you partner with Makai HR you can get on with the business you are trying to grow while we take care of your employee needs from 401(k) plans to payroll, taxes, health insurance/benefits, and worker’s compensation. You also gain peace of mind that you are in compliance with all of Hawaii’s employer laws (if you’ve ever looked you know that the list is very long). When choosing a PEO to partner with, there are many things to consider including cost, services and technology solutions.
With the cost of doing business in Hawaii at record highs, we know how important it is to keep labor costs in line with revenue. Our plans are priced competitively and include value-added services like time-in/time-out systems. Our three tiers of PEO service plans are tailored to the size of your business and specific needs. We offer a 100% paperless solution which means that your employees can manage their needs through a computer, tablet or phone. We can truly improve your employees work benefits while freeing you up to run your business.
What are you waiting for? Companies who partner with a PEO benefit from 7-9% faster growth, 10-14% lower employee turnover; and they are 50% less likely to go out of business. Contact us today to get started!