Common Characteristics of successful entrepreneurs s
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Although an overview of successful entrepreneurs such as Bill Gates (Microsoft), Ray Kroc (McDonald's), or Michael Dell indicates that they have different personalities and come from diverse backgrounds, they do share certain common characteristics. Most of these entrepreneurs are driven by the passion for their work. They also possess the imagination, flexibility and ability to enable them to overcome the inevitable challenges of owning an expanding business (Drucker, 1985; Houtz & Heasley, 2002; Boyett & Boyett, 2000). In this paper, the common characteristics of successful entrepreneurs will be identified and discussed. Then the distinctive entrepreneurial characteristics of the following successful entrepreneursùBill Gates, Michael Dell and Ray Krocùwill be presented as case examples. The analysis of these three entrepreneurs will be conducted by relating their entrepreneurial characteristics to the list of the common traits of successful entrepreneurs identified in the paper. According to many business specialists and researchers, the most successful entrepreneurs are characterized by some of the following traits: Strong focus on their goals: Successful entrepreneurs motivate themselves by visualizing the accomplishment of their goals. Regardless of any setbacks, they continue to persevere by adopting the attitude that they can and will ultimately achieve their goals (Drucker, 1985). Intense passion about their work: Many of these entrepreneurs are driven b
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changes and addressing the challenges. With this attitude, entrepreneurs do not try to assign blame for negative situations or crises to the market or others. Rather, they seek to learn from their mistakes so that they will improve their judgment in future situations (Covey, 1989; Goodman, 1994).
Following this discussion about some of the common characteristics of successful entrepreneurs, the characteristics of three entrepreneurs, which have contributed to their success, will be presented. The entrepreneurs featured in the following section are Bill Gates, Michael Dell and Ray Kroc.
As the head of Microsoft, Bill Gates was instrumental in revolutionizing the world of computers and making personal computers an integral part of the everyday life of the masses. As with the typical successful entrepreneur, Gates has always been driven by his passion in computers since he was a teenager. Certainly, Gates is a creative entrepreneur who is fearless in his determination to achieve his objective of being at the forefront of the digital revolution (Boyett & Boyett; Hemingway & Gates, 2000).
In the book, Business @ the Speed of Thought, Hemingway and Gates (2000) highlighted Gates' flexibility in modifying his products and servic
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Approximate Word count = 1866
Approximate Pages = 7 (250 words per page)
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