What are the Attributes of an Effective Business Entrepreneur?

What are the Attributes of an Effective Business Entrepreneur?

Business Entrepreneur Dallas TXIdentifying the attributes of effective entrepreneur leader has always been a challenge. Their characteristics range from technical brilliance to obsessive focus, from passion and vision to education and experience.

While there have been studies that attempt to reveal what makes leaders successful, the explanations are as clear as mud. In fact, there is a lot of research that offers conflicting results. The attributes of successful entrepreneur leaders remain somewhat of a mystery.

A Harvard Business School study hopes to better explain successful entrepreneur leaders through a research program which will collect data based on self-assessment tools of entrepreneurs along with appraisals from their employees, friends and peers. The data collected will also enable the team of researchers to study the attributes of effective leaders by gender and entrepreneurial experience.

According to HBS Professor Lynda Applegate, a 20 year veteran of leadership studies and Professor of Business Administration at HBS, Chair of the HBS Executive Education Portfolio for Business Owners & Entrepreneurs, “We’ve always had a hard time being able to identify the skills and behaviors of entrepreneurial leaders. Part of the problem is that people usually focus on an entrepreneurial ‘personality’ rather than identifying the unique skills and behaviors of entrepreneurs who launch and grow their own firms.”

Characteristics of Entrepreneur Leaders

Interviews with effective entrepreneur leaders along with a literature review enable the research team to define the key characteristics that influence leadership success.

Identification of Opportunities

This skill is necessary to be able to find business opportunities with high-potential.

Vision and Influence

Effective entrepreneurs need to be able to positively influence all stakeholders in attaining business visions.

Comfort with Uncertainty

Entrepreneurs who are successful can advance a business agenda when faced with an uncertain outlook.

Assembling and Motivating a Business Team

A successful leader must choose the best team members and be able to motivate them to reach business goals.

Efficient Decision Making

The ability to make effective business decisions without enough sufficient information is crucial to effective leadership.

Building Networks

Successful leaders can organize the resources and professional networks needed to establish and grow a business venture.

Collaboration and Team Orientation

When working with a team, entrepreneur leaders are a strong member who ensures business success even if that means lowering personal agendas.

Management of Operations

Being able to manage ongoing business operations effectively is vital to leadership success.

Finance and Financial Management

Entrepreneur leaders can successfully manage all aspects of business venture finances.

Sales

Building an effective sales organization that acquires, maintains and satisfies its customer base and promotes customer engagement is essential to successful entrepreneur leadership.

Preference for Established Structure

A leader’s preference between operating in established environments versus ones that require changes in strategy and context can influence entrepreneurial success.

Becoming an entrepreneur is the life aspiration of many people. For more advice on becoming an effective business entrepreneur, contact Jason Graziani in the Dallas Tx area at (972) 992-1920.

Jason Graziani  |  Business Entrepreneur Dallas TX  |  (972) 992-1920