Along with proper planning and efficient execution, a novice can overcome lack of background and experience. All successful entrepreneurs, from Narayan Murthy to Lakshmi Mithal, share some similar qualities with one another.

Leadership quality-

A leader is someone who values the goal but is more than just tenacious, has strong communication skills, has the ability to amass the group of people towards the same goal, works effectively. A leader earns the trust and respect of others by work quality and confidence. It is also said that a leader whom nobody follows is not a leader at all.

Self-motivated-

It is known that successful people go out in the world and invoke changes through their actions because by sitting back nobody gets anything. Leaders usually adapt themselves to new situations and motivate the team members to achieve their goals.

Basic Ethics and Integrity-

Successful business people always maintain high standards of integrity because if one does not prove himself then nobody will do business with the person. It is important for an entrepreneur to learn to accept the mistakes because one cannot always keep on blaming someone else for everything.

Willingness to fail-

A successful entrepreneur is one who is not afraid of failing. But basically they are successful because they can make better decisions even in worst cases. But still they have to learn that if failure comes their way then they have to accept it.

Serial innovators-

Successful entrepreneurs always welcome new innovations to improve their effectiveness.

Competitive spirit-

Basically an entrepreneur should always have this skill because it is important to maintain a constant spirit of competition to win business and market shares.

Understand the value of a strong network-

An entrepreneur never gets success alone but needs the help of a strong network with a financial partner, business partner, peer and resources available. Because a good entrepreneur will be successful when he/she has a good network.

Curious-

Successful entrepreneurs should always be curious to learn different things which happen in the surroundings. And should also keep one updated with the latest things.

Know what you don’t know-

Entrepreneurs should always be ready to learn about things they are not aware about because only then growth is possible.

Passionate-

Last but not the least, entrepreneurs should be passionate about the work otherwise, in the long run it would become difficult for them to survive in the market or face any hurdle which comes in their way.

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