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Management Smarts

Character Study

Successful entrepreneurs have a lot in common. "They have a high need for achievement," says Susan E. Murphy, interim director of the Kravis Leadership Institute at Claremont McKenna College in Claremont, California. "They have a high tolerance for ambiguity and are comfortable adding their own structure to ambiguous situations. They usually have a single vision they do not swerve from, and they believe they control their own destinies."

These characteristics can be developed into strong leadership skills. Murphy advises putting yourself in difficult situations that challenge and stretch your abilities. If you fail? Learn from the experience and keep going.

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This article was originally published in the February 1996 print edition of Entrepreneur with the headline: Management Smarts.

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