All Great Entrepreneurs Have This

July 12th, 2013 / No Comments »

By  Geoffrey James

Management skills don’t make an entrepreneur great. Neither does access to capital or innovative thinking. It’s something much more simple.

What makes an entrepreneur successful?

Some people believe it’s the ability to innovate. However, many startups are refinements of existing business models or improvements on how everyday products and services are delivered.  Being innovative helps, but it’s not the deciding factor.

How about access to capital? It’s admittedly difficult to start a business if you don’t have the money to get it started.  Even so, there are plenty of successful startups that survived on the thinnest of shoestrings for their first few years.

Management skill? Give me a break. Entrepreneurs are famously short-tempered and few have the patience to coach employees.  If they wanted to play politics, after all, they would be working in a big company, not starting something new…….