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What characteristics does my child need to become a successful entrepreneur?

Last Updated: March 28, 2007

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There are many characteristics of successful entrepreneurs. The good news is that most of these characteristics can be taught.

Most entrepreneurs:
* have a passion for their business idea and have a love for what they do
* are risk takers while using good judgment
* enjoy challenges
* accept change
* are real go-getters and willing to work hard
* are well organized
* possess good communication skills, especially the ability to explain ideas to others
* are good leaders
* demonstrate confidence and engage others
* are creative, seeing opportunities to fill a need
* are disciplined and can stick with a project
* are focused on results, especially positive outcomes.

If your child does not possess all these characteristics, he or she can pick them up through formal or informal education. A child can also find partners who compensate for their weaknesses. For example, if your child has leadership skills but lacks organization skills, he could partner with someone who possesses the skills he lacks.

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