Do You Have What It Takes to be a Successful Entrepreneur?

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It takes a lot to be a successful entrepreneur. Do you have what it takes? Check out this list of qualities common in successful entrepreneurs and see how you measure up.

1. Great People Skills

Entrepreneurs have great people skills and understand that it's the relationships between people that get things done. They enjoy being around people and know how to work a crowd without the crowd even realizing it!

2. Confidence—in Yourself and the Product

Another essential quality for any successful entrepreneur is confidence. We're not talking about regular old self-confidence however. Entrepreneurs take it to another level. It's that extreme confidence and belief in self and product that gives an entrepreneur the wherewithal to shamelessly promote a product or service.

3. Passion

Ever wanted something so bad you could taste it? Then you must be an entrepreneur! That burning desire to succeed is what enables entrepreneurial types to accomplish just about anything, from the apparently insurmountable to the thankless minutia required to keep your business running.

4. Perseverance

Every entrepreneur stumbles into roadblocks once in awhile, but what sets the successful ones apart is the ability to step back, re-evaluate, and take another route. You know that familiar saying, "If at first you don't succeed, try, try again?" Consider it the mantra of the successful entrepreneur.

5. Stamina and Energy

High energy levels and stamina go hand in hand with perseverance. Any successful entrepreneur will tell you that he or she has had a pattern of burning the midnight oil, skipping lunch, working 80 to 100 hours a week, and missing out on social events in pursuit of success.

6. Sharp Focus on Goals

Entrepreneurs are focused and goal oriented. They set up goals and develop plans of action to achieve those goals, whether they're generating sales, improving efficiency, or reworking a product design in a time crunch.

7. An Understanding of How to Make Money

An entrepreneur's primary goal is to make money. They are not content to work solely for the pleasure of doing something they love; they prefer cold, hard, cash and understand how to get it.

8. A Gift for Sales and Marketing

Entrepreneurs don't have to be born closers, but they need to know how to sell and market their products. It usually comes naturally to business owners; even people who don't enjoy sales usually find it easier to sell and market a product or service they completely believe in.

9. An Eye for Opportunity

Last but not least, an entrepreneur cannot be successful without a product or service that people want. Even if your product is fantastic, you won't make a dime if there's no market for it. Getting the right product in front of the right audience at the right time is crucial. The ability to spot a trend or need in the marketplace and run with it is the hallmark of every successful entrepreneur from the guys behind Ginsu knives (still going strong after more than 30 years by the way), to Vince Offer, creator of the ShamWow.

Do you have what it takes to be a successful entrepreneur? LegalZoom can help you start your business today.