Question

In Jack Ma’s speech,

Please identify 15 entrepreneurial traits (explicit & implicit) which are critical to make a successful entrepreneur. You may make short explanation for each of the trait you identify, if it is necessary to add to the clarification.

Answer 1

1. Hard Worker

Building the growing a business is no walk in the park. It takes a lot of hard work and time invested. It is a common business adage that hard work is opportunity is overalls. Most successful entrepreneurs are those who are not after of spending long hours of work.

2. Goal Oriented

All successful entrepreneurs started as a struggling startup with big goals. They are successful because they know what they want to achieve and have a set of plans on how to achieve their goals.

3. Self Motivated

Only the driven are able to finish the race and win in life. Success is only for individuals who wake up each morning with a goal to achieve, a plan in mind, and the positive attitude to face the day.

4. Risk Taker

Business undertakings come with a dose of risk. The larger the returns, the higher the risks. The difference between success and failure is calculation of risks. Those who succeed take only necessary risks and those that they can afford.

5. Disciplined

Entrepreneurship can easily take up most of your waking hours and all of your attention. How does business leaders survive? They manage their time, schedule, and activities in order to do more at any given time. Order and control are non-negotiable, and do not do anything that might compromise order.

6. Learner

Successful people are constant learners. They welcome change as an opportunity to learn. They are readers, tinkers, and active listeners. They forever have a curious mind.

7. Self Aware

Success starts with a thorough assessment and recognition of your abilities, weaknesses, and strengths. When you know your capabilities, you also know the qualities you need from your associates and team members that will complement you.

8. Decisive

Business opportunities are lost as soon as they are presented. To grasp that small window offered, one has to be quick in assessing the opportunity and in making decisions. Other entrepreneurs are always around and eager to take your place.

9. Team Player

Successful people knows the value of synergy by working with other people. They actively seek talents who can contribute to the company. Team work is important to them and they recognise the importance of each and every team member.

10. Competitive

Successful entrepreneurs like winning. They are a competitive bunch. But are most likely to compete with themselves rather than with other people. Instead of trying to beat other company’s sales, they would focus more on beating their own achievements.

11. Positive Thinker

It takes a lot to create, launch, and run a company. Adversaries, challenges, and problems are everyday occurrence. A good entrepreneur will recognise the problem, find a solution, and focus on the positive aspect. He or she knows that there is not much time left for anything else.

12. Financially Smart

The most successful entrepreneurs know the value of investing and its returns. They are aware of the equation of wealth accumulation and ways to make their money can work for them. Every purchase is an investment for future benefits

13. Live Simply

The richest people in the world live the simplest. They live within their means and reject unnecessary and excessive spending. It is not unusual to see them wear the same clothes every day. It’s not that they can’t afford a huge wardrobe, they just don’t want to waste time deciding what to wear.

14. Flexible and Adaptable

Change is inevitable, and the successful are those who found ways to adapt and embrace change. There is no use to keeping with old traditions and business practices that have gone obsolete with the times.

15. Persistent

Successful people do not take no for an answer. NO for them means ‘this is not the right time,’ ‘come back when you have a better product,’ or ‘give me a better offer.’ They always try to improve their product or their presentation and comes back for another try.