22 Qualities Of Entrepreneurs Likely ToFail

Say you want to build a thriving business. You could list everything you think is important in founding,
growing, and maintaining a startup, and build your company that way.
Or you could focus on what experienced investors look for — not because you want to attract outside capital, but because you want to evaluate the same key qualities an experienced investor looks for when deciding whether a business merits their money.

In other words, build a company that has all the qualities a successful angel looks for... and you've probably built a company
with real legs.
The same approach can apply to you, the founder.
As David S. Rose , the CEO of Gust and the
founder of New York Angels , says :
The number one thing I look at when making a startup investment is the quality of the entrepreneur.
If I have to choose between
a great business idea and a great
entrepreneur, I'll take the
entrepreneur every time.
So what about you? Do you have all the qualities a successful angel looks for in an entrepreneur?
There's no need to guess. While in the book he describes certain behaviors of great entrepreneurs, David also lists a number of warning signs.
See if any of these apply to you:
1. Perceived lack of integrity
2. Unrealistic assessment of market size
3. Unrealistic assessment of competitive offerings
4. Unrealistic assessment of competitive advantages
5. Unrealistic assessment of execution challenges
6. Unrealistic assessment of execution costs
see also: 9 Biggest lies We All Fall For About Starting Your Own Business
7. Unrealistic assessment of timing
8. Unrealistic financial projections
9. Unrealistic valuation expectations
10. Unrealistic declarative statements
11. Unrealistic fundamental business idea
12. Lack of execution track record
13. Lack of domain expertise
14. Lack of technical expertise
15. Lack of long-term vision
16. Lack of historical knowledge of the market space
17. Lack of perceived leadership capability
18. Lack of perceived communication skills
19. Lack of necessary operational skills on the management team
20. Lack of perceived ability to grow with the company
21. Lack of perceived willingness to accept advice or mentorship
22. Lack of carefully considered go-to- market strategy
Of course you might say, "Wait. I don't plan to seek investors. So an inability to communicate effectively with potential
investors is a non-issue." Of course you'd also be wrong; while communicating with investors may not be important, communicating with everyone else — employees, customers, vendors, etc. — is
definitely important.
Any entrepreneur who lacks solid communication skills is working at a huge disadvantage.
The same is true for all the other items on David's list of warning signs. If you can't lead then your employees can't follow. If
you can't grow with your business then your business can't grow. If you can't identify and leverage your real (not imagined) competitive advantages then you
can't compete.
And while you think you may never be an angel investor, you already are, because you've invested in your business.
Viewing entrepreneurship and your
business from a different perspective — especially an experienced perspective — is
incredibly valuable because it can help you identify weaknesses you must overcome... and just as importantly, strengths you can
leverage.
see also: 17 Hard Truths Every College Grad Needs To Understand
via Business Insider