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1. TRAITS OF SUCCESSFUL ENTREPRENEURS Lingaya'sVidyapeeth

2. TRAITS OF SUCCESSFUL ENTREPRENEURS Becoming an entrepreneur is a dream for many. Generally, entrepreneurs are looked upon for making enormous wealth, being the boss, and having the freedom to work as they want. But in reality, entrepreneurship is not justapieceofcake.Ittakeslotsofhardworkanddedicationonthepartof entrepreneurs to make their efforts tremendously rewarding. On an average, ifyousee,entrepreneurshavetoputinlongerhoursofworkand take on much more risk than their employees; nevertheless, some of the traits they possess are what makes the difference in the success of their ventures. Not all entrepreneurs who launch new businesses are fortunate; some will be extremely successful, some will muddle to sustain, while some others will fail. However, it is not always the luck that favors. Business success and growth is most often the combined result of the effort, ability, and vision of the founding entrepreneur. So, what makes an entrepreneur successful, when so many do not? It is the individual quirks and idiosyncrasies of every entrepreneur, developed over the years of their experience in their own businessenvironment. These speci2c traits and attitudes that are either innate or developed characteristics of every entrepreneur are what guarantee success in business and make them successful when they take on the entrepreneurialplunge.

3. TRAITS OF SUCCESSFUL ENTREPRENEURS Follow TheirPassions: Not all people discover and recognize what they are truly passionate about. But entrepreneurs do. Passion is the thing that stems from their beliefs,enhancedbytheirskills,andissustainedbythevaluethattheyare able to provide to it. In short, passion is the most important trait, without which,onecannotsustainlongenoughtosucceed.Successful entrepreneurs determine their passion 2rst and make a full-scale effort to wholeheartedly follow their passion. They spend hours running a venture that was once nothing more than their passion. Their devotion and effort come from doing what they love, and most importantly, the satisfaction they get is far greater than their monetary gains. It is indeed truly said that when you really love something, you won’t mind going an extra mile and puttinginthatextraefforttomakeitasuccess.Andthisiswhatpassionate entrepreneurs do about their business and that is what drives them to keepworkingtoughandhardtoachievetheirvisionandmission. Not Afraid to TakeRisks: Risks and businesses go hand in hand. If you don’t take risks, it is probable that you’ll keep on loosing on the opportunities to grow big. Successful entrepreneurs are indeed risk-takers, who are ready to dive into uncertainty. But remembers, not all risk-takers can become successful entrepreneurs. What differentiates risk-taking successful entrepreneurs is that they oversee the unprecedented challenges and plan ahead to deal with the ‘unknowns’, keeping their own resources in reserve. This means that they do take risks but in a very calculated manner. They evaluate every risk with an eye for detail, identifying the pros and cons of it, and decide whether their risk is worth the cost of the consequences and the efforts they putin.

4. TRAITS OF SUCCESSFUL ENTREPRENEURS Tenacity: Running a business is never a cakewalk. It takes a lot of endurance and tenacity on the part of entrepreneurs to keep going when things get tough. Successful entrepreneurs have the perseverance to sustain the hardest times and stay constantly re-committing to their decisions, not giving up that easily. They accept success as a process, rather than an end-result. Successful entrepreneurs are tenacious in their commitments that no matter where the tides turn, they are willing to learn from their experiences and stay the course to execute it successfully the next time around. EmbraceFailure Success is not always guaranteed. Even the most successful businesses see bumps along the road. This is why, entrepreneurs should stay prepared to embrace the failures along with successes, in their path of risk-taking. Successful entrepreneurs know how to be resilient when encountered with failures and are able to bounce back from the setback. Indeed, they see setbacks as a part of the game to learn and grow, and it does give them the impetus to move further forward, without losingheart. Adaptable andFlexible: In business, things do not always go as planned. A successful entrepreneurknowshowtobeflexibleandadaptableinallaspectsoftheir business. They stay committed to their goals, but still are willing to adapt and accept changes as they go along. Successful entrepreneurs are 2exibletotheclientorthemarketneedsandreadilywelcomesuggestions for optimization. They are open to trying new approaches, revisiting their businessplan,andre-framingtheirideas,ifandwhen asituation arises.

5. TRAITS OF SUCCESSFUL ENTREPRENEURS Strong MoneyManagement: It takes time for any business venture to bring in pro2ts. Until then, capital needs to be utilized wisely. Successful entrepreneurs make plans in terms of 2nancial needs for present and future and set aside emergency funds. They keep a complete handle on cash 2ows, prudently invest in overheads, and have strong money management skills to secure their capital,untiltheygofullyoperational. Leadership: Last but not the least, a successful entrepreneur must be a successful leader. They have to possess the ability to lead an organization effciently, stand out in their intellect/wisdom, and face adversities with strength. Leadership is doing the right things and having the internal strive to lead. Also, being sociable is what makes an entrepreneur successful among his or her team. Successful entrepreneurs keep hold of an inspiring vision to unite employees and stakeholders by staying clear and consistent in their values, and most importantly, they are well-versed in the art of motivating people. It is important to understand here that though all these traits are invaluable, they cannot be learned in one go. It takes time and experience to learn the skill sets and develop your innate entrepreneurial qualities. Running your own business and becoming an entrepreneur can be truly rewarding but before taking the leap, one has to understand and acquire theskills/capabilitiesneededtobecomesuccessful. Inthatsense,managementeducationattainedfroma reputededucational institution can help the aspirants to nurture their entrepreneurial skills and preparethemtobecomesuccessfulentrepreneursofthefuture.

6. TRAITS OF SUCCESSFUL ENTREPRENEURS Lingaya’s Vidyapeeth, one of the best management institutions in the country, is committed to delivering holistic excellence to students that help translate their achievements into professional success. We, at Lingaya’s, instill relevant knowledge and skills in students to nurture their development into leading entrepreneurs of tomorrow. Management programs at Lingaya’s enable students to develop career-speci2c business skills and intangible traits that make them stand out from the rest. Students at Lingaya’s Vidyapeeth are provided with a cutting-edge holistic curriculum and business knowledge along with skills development programs/activities that help equip them with appropriate entrepreneurshiptraits. We believe that young budding entrepreneurs should be trained to learn beyond classrooms for a real-world experience, and this is exactly what our management program at the Lingaya’s Vidyapeeth is designed for. Lingaya’s industry-centric program curriculum blended with the practical exposure provided to the students, aids to thoroughly prepare the students for the business world and facilitates their development into strong and successful entrepreneurs and management leaders with skills thatmakeforasustainedsuccess.