The characteristics of a successful entrepreneur
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The characteristics of a successful entrepreneur
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The characteristics of a successful entrepreneur
Values
Integrity
Top six values
Honesty
Integrity
Top six values
CreativityHonesty
Integrity
Top six values
CreativityHonesty
Integrity
Perseverance
Top six values
CreativityHonesty
Integrity
Perseverance
Family
Top six values
CreativityHonesty
Integrity
Continuous Learning
Perseverance
Family
Top six values
They communicate these values clearly across their business.
Life satisfaction
They have a high level of satisfaction
with life.
They have a high level of satisfaction
with life.
They are happy people!
Drive and passion
When measured…
When measured… they have a passion for
their long term goals and
When measured… they have a passion for
their long term goals and an unwavering drive to
get there.
Age
55% started their business between the
age of 31 to 40 years
82% between the ages of 31 and 50 years
Education
Over 90% hold a bachelors degree or
above
73% had alignment between their field of
study and their business.
Career changes
Average career or significant job changes
before starting a business was 2.5.
Running a business
They learnt about running a business from
a variety of sources including…
They learnt about running a business from
a variety of sources including…
friends
They learnt about running a business from
a variety of sources including…
friends, family
They learnt about running a business from
a variety of sources including…
friends, family, accountants
They learnt about running a business from
a variety of sources including…
friends, family, accountants and past
roles working for others.
Reason for starting their business
The main driver when deciding to start a
business was needing a new direction.
For the majority this new direction was following a
passion.
The next most frequent reason was that they were presented with a business opportunity.
Their continued motivation in business remains tied to their
passion.
$$$
Over 80% used either personal savings or a
home equity loan to start their business.
Support Networks
They have support networks in place, with
the majority rating these networks as strong.
Staff engagement
Over 60% understand and measure
staff engagement.
Ensuring regular events for staff take place to
create a feeling of belonging at work.
Their staff understand the big picture and feel
aligned to the businesses’ direction.
They provide the autonomy to encourage
initiative and the structure to achieve the desired company results.
They have created a positive and energetic
environment for staff to work in.
Staff development
They provide technical training and professional
development to staff.
Recruitment
When recruiting, they ensure alignment
between the person and their company’s
strategy, values and culture.
For more stories and interviews with successful business owners follow Next Chapter
