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How successful entrepreneurs make money: A case study

What do Elon Musk, Richard Branson, Steve Jobs and Oprah Winfrey have in common? They are all super wealthy and famous. But how did they come to be like this? Was it luck or hard work? Well, it is a healthy combination of both that has led to the success of these entrepreneurs. Each one of these entrepreneurs have the following traits:

They are problem solvers

When you look at these entrepreneurs, they are people who are looking for a solution to a problem. They identify a need in the market and then think of creative ways to solve it. Through being great problem solvers, they are adaptable and persevere to be successful. They capitalise on the solutions. An example of this trait can be seen in Richard Branson when he was stranded at an airport. Instead of looking at the problem, he tried to figure out a solution. His solution to the problem was to charter a plane and then sell the extra seats to his fellow stranded passengers. Thereby he got a free flight home and made a small profit.

They are passionate

Entrepreneurs have great passion for their chosen field. They are continuously reading and learning about what is going on in their industry so that they can become gurus in their field. In addition, their passion is their driving force for why they are engaged in the work they do. Many entrepreneurs work because they love what they do and not necessarily for the financial reward they will receive in the end.

They are risk takers

Successful entrepreneurs are willing to take big risks which will hopefully pay back great dividends. They hunger for the success of making money. Many successful entrepreneurs come from impoverished backgrounds and understand what it means to struggle. Therefore, they are willing to take great risks because they know they can deal with the outcome should it not be favourable.

They are hard workers

If you seek to be a successful entrepreneur there is no space for laziness. Successful entrepreneurs are constantly looking for opportunities to grow and improve their business. They work hard and work smart.

They are action takers

These entrepreneurs do not talk about the business ideas they have and then return to their day jobs. They take action. They look for ways to achieve the business goals they want. They may have limited funds but they work within their means and grow their business little by little, knowing that the wise investments which they make today will bear fruit for them in the future.

By having this combination of traits, they are able to be successful. You may wonder what this has got to do with making money, but most of these people are not overnight successes. They have worked long and hard to achieve the success that they enjoy today. So go out, be courageous, and you never you know, you may be well on your way to your first million.

Proudly brought National Small Businesss Chamber (NSBC).

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