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Winning Entrepreneur Characteristics
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Angel investors often choose their investments according to various criteria, including the entrepreneur’s ability to successfully sell a unique product and service that has a strong potential for success. In addition, some entrepreneurs possess certain winning qualities over others that can easily attract angels to their deal. Here are some distinct characteristics that many successful entrepreneurs must have:

The 4 C’s- confidence, competence, communication, and conceptualization
Successful entrepreneurs are strong-minded, self-assured individuals who take pride in their company and inventions. They have proficiency in their field of industry and possess strong communication skills (verbal and writing), especially when it comes to selling their product or service. They also freely exchange their ideas and opinions with investors, management team, board members, etc. Furthermore, they have an impeccable skill for envisioning unique novel ideas, can identify complex situations, and offer quick solutions to existing problems.

The 3 P’s- passion, persistence, and pragmatism
Successful business owners often demonstrate a profound passion and a robust enthusiasm for their profession, qualities that are highly regarded by many angel investors. In addition, they are quite persistent individuals, especially when it comes to bringing forth viable ideas and concepts. They are also pragmatic persons who have a realistic approach in life, especially when it comes to their company.

The 2 F’s- focused and flexible
Another striking attribute that successful entrepreneurs share is their focused mindset. They are aware of their company’s mission and they meticulously address what needs to be done in order to succeed. They also have the capability to adapt to different modifications throughout their company’s cycle, especially when it comes to strategy, and are able to properly readjust in order to meet those changes.

Leadership
It is a well-known fact that it takes a competent leader to successfully start, run, and cultivate a business. Many successful entrepreneurs have this leadership ability. They are able to execute their goals in a timely manner and possess the integrity to deliver. They are great delegators and attract a solid management team. In addition, they assume the security and risks of their company while still focusing on their objectives and motivating others in order to guide their company towards success.

Stable pattern of success
Often times, entrepreneurs start their businesses in an area where they have both an interest and experience. The successful ones have a continuous, solid track record of endeavors. Prior achievement is usually indicative of future success.

Physical and mental stamina
Many people often assume that once they become a business owner, they will have more free time and are able to work their own hours. However, contrary to popular belief, it is a proven fact that new entrepreneurs must still work long hours for extended periods of time. In order to successfully do so, they must be in good health and be prepared for the physical and mental challenges of entrepreneurship.

Comprehensive awareness/learning from mistakes
Winning entrepreneurs can easily identify complex situations and while every decision made may not have a successful outcome, they are aware of all the ramifications involved in a decision-making process, assess all risks thoroughly, and learn from their mistakes.

Staying power
Successful business owners may be persistent in their approach but are also very patient and tolerant when finding capital. They are aware that obtaining startup funding is time consuming, and give angel investors adequate time in completing the due diligence process.

Energy
Running a new business requires a considerable amount of energy on the entrepreneur’s behalf since he/she have to work long hours for extended periods of time. Winning company owners not only have the physical and mental stamina of running a business but also have a high-level of energy in the workforce. They are continuously involved in ensuring the success of their business and use their energetic persona to motivate others towards the company’s goals.

Realistic expectations
Positive thinking is essential for success and triumphant entrepreneurs seem to always possess this characteristic, exuding confidence in those around them. Even though most are optimistic individuals, they are quite realistic in outlook and are aware/ready for the different challenges throughout a company’s development.

Objective approach
Angel investors also believe that successful entrepreneurs have an objective approach in life. They rarely take into consideration the feelings of other people during their business deals and are more concerned with the performance and accomplishment of others. This remarkable ability to psychologically keep their distance and to concentrate on the effectiveness of operations is what establishes a successful entrepreneur from the rest.

Enjoys risks and challenges
Starting a business is considered an enormous risk and entrepreneurs need to be able to make many more risky decisions throughout their company’s development as well as learn to cope with the consequences of their business decisions. A business owner who is somewhat comfortable with taking on risks and challenges is more likely to make the right decision that will result in larger payoffs. These decisions can result in a successful company.

Financial aptitude
Successful entrepreneurs are very good with numbers. They are able to predict efficient financial projections, know their budgets and receivable amounts. They are also more economically practical than other business owners and tend to not overspend company dollars when necessary because they are aware of startup costs.

Welcomes the participation of angel investors
Often times, angel investors expect a percentage of stock and/or a board seat when investing in a company. While this may seem like a fair exchange on an investment, some overly controlling entrepreneurs have the need to dominate and direct, and may not embrace the idea of giving up a portion of their company. However, successful business owners have the tendency to welcome the participation of angel investors to their company, especially when it comes to seeking advice and mentorship since many angels were once successful entrepreneurs. The valuable insight that an angel investor can provide a young company may mean the difference between a struggling business and a prosperous one.

Honest relationships with investors
It is interesting to note that successful enterprise owners had more open, honest relationships with their investors than their not-so-successful counterparts. This entails monthly contact with lead investors and quarterly information of the company’s performance. Entrepreneurs who fully disclosed company matters to their investors also had more cooperative, respectable interactions towards each other. In addition, investors are more likely to participate in future rounds of company funding when notified regularly of their investment’s performance.

Partial network of contacts
Winning business owners also have an established small network of contacts when compared to less successful entrepreneurs. As a result, they are able to network even more, making introductions to angel investors and angel groups.

Ability to learn from mistakes
As a company leader, entrepreneurs are often involved in making many risky decisions regarding their enterprise. While many of their business decisions may not always be the correct choice, successful business owners are able to properly assess any mistakes, learn from them, and assimilate that new information for a brighter future.
While an angel’s decision to choose an investment varies between each investor, many will agree that there are certain characteristics that differentiate a successful entrepreneur from others. Among them are confidence, determination, a realistic outlook, and honesty with their investors. Angel investors often are attracted to these winning traits because they usually signify a shrewd entrepreneur with sheer determination to succeed and a possible large return on investment.

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