How Many of the 10 Characteristics of Young Entrepreneurs Do You Have?

In Mexico, 79% of early-stage ventures pursue an opportunity and 56% of young founders are motivated by improving their income or quality of life.
How Many of the 10 Characteristics of Young Entrepreneurs Do You Have?
Image credit: Depositphotos.com

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Entrepreneur Staff
4 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Visualizing your own business or company is the dream of thousands of young people, doing what they like, without neglecting their personal life, in addition to achieving success accompanied by unforgettable experiences has become the goal of many students today.

According to the 2015/16 National Report of the Global Entrepreneurship Monitor , the majority of entrepreneurs around the world are driven more by opportunity (as a voluntary alternative to entrepreneurship) than by necessity (as a forced decision due to lack of employment). In Mexico, 79% of early-stage ventures pursue an opportunity reason and 56% do so motivated by an expectation of improvement in their income or quality of life.

And although undertaking is not an easy task, there is a percentage who have decided to trust their strengths and abilities to put their dream into motion and not stop until they see results. Next, you will find the main characteristics that you must have as an entrepreneur so that you can see what you need or what you need to reinforce:

1. You must be willing to learn. That is, knowing how to accept advice, opinions and even working methods, each person can specialize in something and thus help you to promote your business idea.

2. Be confident in your business idea. There will be many people who will try to discourage you by telling you that your idea is not good, but if you have already analyzed strengths and weaknesses, in addition to the opportunities and threats that you can find in the market, do not stop.

3. Mind with innovative ideas. This is essential, you might think that everything already exists in the market, however, people's needs are constantly changing, did you see the opportunity? take it and start developing it.

4. Have security. For decision making and to talk with clients, if you transmit trust and security it will be easier for people to trust your project and obtain the necessary support from your work team and external people.

People's needs are constantly changing, did you see the opportunity? / Image: Depositphotos.com

5. Make way for creativity. The minds behind large international companies did not stop at the possibilities, capture everything you visualize in this way you can assess the pros and cons to carry out your idea.

6. Be ambitious. The more short and medium-term goals you have, the more you can add small successes that over time will bear the expected fruits, being ambitious does not mean chasing money, but knowing that your project can improve every day and make a difference in the market.

7. Be passionate. Doing what you like will give you the necessary boost to continue developing your business idea.

8. Have a spirit of leadership. You must have the ability to influence others in order to achieve the goals you seek as an entrepreneur and thus encourage your colleagues to continue on the path of success.

9. Take the initiative. It is good that you have many business ideas, but analyze those that are viable and those that are not, keep your feet on the ground, if you leave ideas in the air, they will probably only remain as good intentions.

10. Solve problems quickly. As mentioned above, the path of entrepreneurship is not easy and thousands of problems can arise on your way to success, so it is necessary to keep your temper and a cool head to solve any challenge.

Do you comply with all of them or do you need to reinforce some? Remember that for your project to be applied and not be just an idea, it is necessary to enhance skills that may be innate or acquired through practice and experience.

More from Entrepreneur
Our Franchise Advisors will guide you through the entire franchising process, for FREE!
  1. Book a one-on-one session with a Franchise Advisor
  2. Take a survey about your needs & goals
  3. Find your ideal franchise
  4. Learn about that franchise
  5. Meet the franchisor
  6. Receive the best business resources
Discover the franchise that’s right for you by answering some quick questions about
  • Which industry you’re interested in
  • Why you want to buy a franchise
  • What your financial needs are
  • Where you’re located
  • And more
Make sure you’re covered for physical injuries or property damage at work by
  • Providing us with basic information about your business
  • Verifying details about your business with one of our specialists
  • Speaking with an agent who is specifically suited to insure your business

Latest on Entrepreneur