Close Menu
  • Home
  • Celebrity Gossip
  • Entertainment News
  • Featured
  • Photo News
  • Advertise with Us
  • About Us
  • Privacy Policy
Facebook X (Twitter) Instagram YouTube WhatsApp
Facebook X (Twitter) Instagram YouTube WhatsApp TikTok
BigEye.UG
Subscribe
  • HOME
  • CELEBRITY GOSSIP
  • ENTERTAINMENT
  • PHOTO NEWS
  • VIDEO NEWS
  • MONEY
    • Money
    • Features
BigEye.UG
Home»BigEye Money»Local Business»4 Things Most Successful Entrepreneurs Have in Common
Local Business

4 Things Most Successful Entrepreneurs Have in Common

BigEyeUg3By BigEyeUg3October 3, 2013
Share
Facebook Twitter Telegram WhatsApp

Dell

mashable.com

Starting a business is always risky, and success is never guaranteed. Yet, entrepreneurs thrive every day. Although there is no one-size-fits-all approach, successful entrepreneurs seem to share several traits that the rest of the pack lacks.

SCORE, a nonprofit organization aimed at helping small businesses, recently released their infographic on what makes today’s entrepreneurs successful. To thrive, entrepreneurs need professional experience, a business plan, the right personality and mentors, SCORE found.

Professional Experience

Professional experience gives entrepreneurs the edge they need to make wise business decisions. Entrepreneurs with a track record of success are two-and-a-half times more likely to raise more money, 3.6 times more likely to see better user growth, and 52% less likely to scale prematurely, the infographic revealed.

A Business Plan

Taking the time to write a business plan not only gives your business direction, it also improves your odds. Companies with a business plan see nearly twice the success as those without one, SCORE found. Those companies that create business plans also see higher business growth and are more likely to secure capital and loans.

Positive Personality

Think you can succeed as an entrepreneur just by being you? If you’re overly aggressive and unapproachable, think again. The most successful entrepreneurs are beaming with positive traits, such as openness and agreeableness. The least desirable traits include narcissism, making excuses and emotional instability. Also, while being aggressive can often work to your advantage, entrepreneurs need to kick the bad habit of predatory aggressiveness if they want to be successful, SCORE found.

A Mentor

New businesses shouldn’t have to go at it alone. The most successful business owners have relied on some form of mentorship to provide guidance and keep them on the right track. Entrepreneurs who work with mentors are three times more likely to start a business, seven times more likely to raise investment money, and three and a half times more likely to grow demand for their product, the infographic shows. They are also more likely to thrive; although many businesses fail within their first year, 84% of ventures that work with mentors are still in business after one to two years.

Related

Share. Facebook Twitter WhatsApp Email
Previous ArticleThis Is Why No One Follows You on Twitter
Next Article Eddy Kenzo Defies KCCA’s Orders, Insists He will Hold Concert on the 25th

Related Articles

dfcu Bank launches Foundation to empower SMEs, women, and youth in agriculture and enterprise development

Equity Bank Uganda Contributes UGX 30 Million towards Martyrs Choral Festival

Empowering Women, Engaging Communities: The GROW Project in Uganda

Equity Group reports Kshs 15.4 billion profits after tax on prudent cost management and resumption of growth

Rockboom Rewards Mpigi Carpenter with Toyota Noah in Life-Changing Moment

“Raising Teens on Purpose: The Story Behind Teen Tales”

Latest News

Singer Stecia Mayanja receives big boost for upcoming concert

June 2, 2025

Music and art take centre stage at 3rd edition of the Smirnoff Fiesta

June 2, 2025

Haffy Powers Says Diamond Platnumz Is Not Her Type

June 2, 2025

GNL Zamba Names His Top Ugandan Musicians of All Time

June 2, 2025

Bobi Wine’s Nephew James Churchill Sentamu to Contest in 2026 Parliamentary Elections

June 2, 2025
Follow Us
  • Facebook
  • Twitter
  • Instagram
  • YouTube
  • TikTok
  • WhatsApp
BigEye.UG
Facebook X (Twitter) Instagram YouTube WhatsApp TikTok
  • Sitemap
  • Privacy Policy
  • Contact Us
© 2025 BigEye.UG | All Rights Reserved

Type above and press Enter to search. Press Esc to cancel.